What do you think cause housing prices to go up and price Americans out of the housing market ?it was institutional buying and money printing , I am all for institutions not allowed to invest in family housing let them play in the commercial space
There is also a demand issue. We have allowed millions of immigrants in which has increased demand at the same time it has increased labor supply. This drives wages down at the same time home prices are driven up.
I own 2 two family Houses in a HCO area. I purchased my first one in 1985 and second as a no money down cash out. Based on my experience, it appears to me that you are correct about the high cost of new construction. This lies with the municipalities. My apartments are the same square footage or slightly more than the “luxury” units. The luxury units have marble or other high end countertops and more expensive appliances, a side from roof deck party spaces, health clubs, and maybe swimming pools there really isn’t a lot of difference is quality of life in my homes vs the glass box towers. Cut development costs and omit the frills I don’t think that 400 “luxury” units with 100 of the same size unit would be really so expensive. People just aren’t very good at math in calculating costs.
What do you think cause housing prices to go up and price Americans out of the housing market ?it was institutional buying and money printing , I am all for institutions not allowed to invest in family housing let them play in the commercial space
There is also a demand issue. We have allowed millions of immigrants in which has increased demand at the same time it has increased labor supply. This drives wages down at the same time home prices are driven up.
I own 2 two family Houses in a HCO area. I purchased my first one in 1985 and second as a no money down cash out. Based on my experience, it appears to me that you are correct about the high cost of new construction. This lies with the municipalities. My apartments are the same square footage or slightly more than the “luxury” units. The luxury units have marble or other high end countertops and more expensive appliances, a side from roof deck party spaces, health clubs, and maybe swimming pools there really isn’t a lot of difference is quality of life in my homes vs the glass box towers. Cut development costs and omit the frills I don’t think that 400 “luxury” units with 100 of the same size unit would be really so expensive. People just aren’t very good at math in calculating costs.