My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • EndlessNightmare@reddthat.comEnglish
    7·
    2 months ago

    Housing price increases are actively harmful to those who want to upgrade, since it increases the incremental cost of upgrading.

      • dan@upvote.auEnglish
        1·
        2 months ago

        In California the property tax can only increase a maximum of 2% per year, so at least there’s that. (this law was put in place so that older people don’t get priced out of their house due to house values going up a lot)