Paywall removed: https://archive.is/eyxeJ
An Orange County homebuyer with a 3.5% down payment would have to earn just over $420,000 a year to afford payments for a median priced home.
Only 10 times higher?
Come to Adelaide, South Australia, where it’s ~15x the median wage!
For the working class it’s closer to 20-25x higher…
I can’t say I love living in Indiana, but it’s things like this that don’t make me regret moving back from L.A.
I wonder…if the house prices are skyrocketing that means no one will buy a house, if no one buys a house that means house prices will go down right…? right…? Like the basic economy taught us
A lot of foreign investors are just parking their money in empty homes here.
The boomer die off is coming - when that generation starts to really drop like flies we’ll see millennials offloading property and a likely deflation of the market. The issue right now is that boomers are making so much money off their properties that many of them own multiple homes and a fair few have dozens of rental properties.
The danger is that corporate landlords start scooping up the estate sales.
That’s why multiple people share housing. Housemates.
If you keep paying the prices, they will keep going up. Stop buying houses.
