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me🏠irl
(lemmy.world)
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this post was submitted on 28 Jan 2024
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me_irl
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Your house didn’t increase 50% in four years, that’s the kind of unrealistic investment expectation that makes the housing market unaffordable. That’s not going to get fixed no matter how many houses are built. People ask unreasonable amounts of money for their shitbox (not saying your house is a shitbox) even if it’s on a bad piece of land. I am not sure what’s the solution for this other than teaching people critical thinking skills for objectively evaluating things.
But an “easy” one for a separate but related problem: corporate investors need to be legislated out of owning single family houses.
Except many housing markets have been doing exactly that for the past decades. Also with the period of hyper inflation we went through easily means the house has gained about 30% value purely through being a durable good that holds it's value with inflation. Another 20% due to the crazy '21-'22 housing market plus general "most houses gain value" housing market is not hard to believe
Hmm, 50% in 4 years? I haven’t seen the data so it’s hard for me to say either say. Maybe you’re right.
Edit: or if you’re going to make claims, then the onus of providing data and facts is on you, I think. OTOH, with crazy trends like NFTs and speculative stocks, I don’t know what to believe.