US Politics on Sidechat | I kind of wonder if housing will ever be affordable again in America. Like ever. Because at this point I think asking for policy that is both intelligent and benevolent in this country is like asking to win the lottery.

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US Politics 1d

I kind of wonder if housing will ever be affordable again in America. Like ever. Because at this point I think asking for policy that is both intelligent and benevolent in this country is like asking to win the lottery.

Anonymous 1d

It still is in some suburbs and cities. But no not really

Anonymous 1d

It will be. But we both know what has to happen for housing prices to drop and it won’t be great.

Anonymous

#1 1d

My parents house in the outer suburbs of St Louis was worth about 650k at the bottom of the Great Recession. Now it’s worth roughly 1.3 million. And it’s not like they totally rebuilt it or anything. It’s just ridiculous

Anonymous

OP 1d

Yes, I’m with my parents house. It’s tripled in value and they got it in 2010

Anonymous

#2 1d

Demand decreases or supply increases. That’s a bloody political fight no matter how it plays out, because a lot of people perversely benefit from the current status quo.

Anonymous

OP 1d

No. 2008. Full crash. That’s the only thing that will make housing affordable again. Demand will never decrease so long as there’s a steady supply of available buyers (unfortunately despite how it looks, housing is and has been being built for people making over 6 figures for some time now and there’s no shortage of people who fit that criteria.) As for supply, there are currently exponentially more vacant housing units than homeless people in the US and there have been for several years now.