Now I don't think so. I think we are now seeing the creation of a class system with those wealthy enough to own (and pay taxes/insurance on) houses and those who rent. In another ten years, it will be essentially impossible to buy property unless you are helped by someone who already owns property.
The government can selectively subsidize property insurance, making it so that only government cronies can afford the property insurance required by loanmakers.
Or else the property insurance is too much that the only people who can afford to buy are cash buyers. This, again, opens the market up to hedge fund managers and locks out family residential buyers.
It does seem that homes now sell for far more than what the material and labor costs are. There's a big disconnect there. Home prices went up a lot during scamdemic when material cost went up. Now material costs are down again, but the home prices remain high? I am subscribed to few real estate sites and filters and lots of price decreases the last 2 years. People are initially asking way too much and having to accept lower offers or continually reduce retail listed pricing. If you ARE on the market for a house, offer much less than what they are asking in this current market.
It does seem that homes now sell for far more than what the material and labor costs are.
It's the land. All this tiny house/shipping container stuff is pointless because over half the price is the land itself. Governments control both the supply and demand and it seems that they've set a hard barrier for entry into the market.
Hahaha, I said that once.
Ten years ago.
Now I don't think so. I think we are now seeing the creation of a class system with those wealthy enough to own (and pay taxes/insurance on) houses and those who rent. In another ten years, it will be essentially impossible to buy property unless you are helped by someone who already owns property.
The government can selectively subsidize property insurance, making it so that only government cronies can afford the property insurance required by loanmakers.
Or else the property insurance is too much that the only people who can afford to buy are cash buyers. This, again, opens the market up to hedge fund managers and locks out family residential buyers.
It does seem that homes now sell for far more than what the material and labor costs are. There's a big disconnect there. Home prices went up a lot during scamdemic when material cost went up. Now material costs are down again, but the home prices remain high? I am subscribed to few real estate sites and filters and lots of price decreases the last 2 years. People are initially asking way too much and having to accept lower offers or continually reduce retail listed pricing. If you ARE on the market for a house, offer much less than what they are asking in this current market.
It's the land. All this tiny house/shipping container stuff is pointless because over half the price is the land itself. Governments control both the supply and demand and it seems that they've set a hard barrier for entry into the market.