Quote:
Originally Posted by Jibartik
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I am having a hard time understanding the housing market.
I often hear this one response when someone points out that millennials can't afford to buy one:
But.. Am I the only one that is like, wait we're at maximum occupancy here? There are more people than homes can be built? [You must be logged in to view images. Log in or Register.]
Like...
Are we at a lack of supply because we could have many more houses than we have, but we just wont build them?
Or are we at a lack of supply because we're reaching maximum occupancy and no mater how you shake it, we're screwed?
I just seem to think that if we have more demand than we have supply of homes, that it's not a solvable solution.
Do we think that new towns are going to open up in Nebraska and that will solve the housing issue?
I just dont see how supply of homes being a problem can just be fixed. [You must be logged in to view images. Log in or Register.] |
supply needs to be above demand in order for their to be equilibrium. The issue is, and I mean this with all due respect, people are leaving liberal shit hole cities en masse for safer and more respectable living conditions.
This migration was caused by several things, most notably:
1) Black Lives Matter Riots
2) CHAZ and Portland riots (or similar)
3) Defunding, or a push to defund police
4) Draconian Covid restrictions
5) The realization of being able to work from home
The above reasons are why lumber prices and building materials are so expensive right now. There simply arent enough homes in the areas people want to live/move to, so new homes are in high demand.
People do not want to live in California, the state lost upwards of 180,000 people last year.