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Wisconsin | Not everybody has to live on Park Avenue, or San Fransisco, or Windsor? Plenty of suburbs, small apartments, trailer courts throughout the country. The real losers are the so called middle class public employees in those cities that can't afford the easy life like they once could (if they ever could have everything on a solid but reasonable paycheck?).
I don't see a lot of reasonable new housing being built anywhere, none actually. Affordable housing has always been old housing, or subsidized housing which is different than affordable. At least affordable housing has been old housing since the takeover of zoning and planning departments. Poor people have to live where they can find housing, that used to be inner cities, and inner ring suburbs, now those areas are hip, until rioters move through and the people who can move find somewhere else hip to live. The infrastructure cost of old pipes, streets, and union strangleholds adds a huge cost to urban housing, I doubt there will be any drop in price on "gentrified" urban housing, the money has already been budgeted. Will take a bankruptcy to change that in most cases.
What I see in new construction is much larger, more gaudy, less durable homes being built for smaller families that move around more often. Am I missing something? that seems like a recipe for high priced housing to me.
Plenty of people living in reasonable houses that have been there for a while that aren't affected by the mania. My grandmother said about the trouble with rental property, "everybody that likes the place isn't qualified to rent it, and everybody that is qualified to rent it thinks they should own something nicer". Or about buying real estate (or dating maybe?), there's mostly crap on the market, because the supply is mostly crap, and crap turns over faster than quality. | |
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Is this a housing $$ bubble
