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
You’re only making money if you downsize, move somewhere cheaper, or switch back to renting. If you move and all the other houses have gone up, then you just end up having to sink any gained equity into affording your new place. Rising prices really only help developers, realtors, and REIT’s.
It is theur business to make money off it.
I am not sure how people living in house got convinced that they are now investors though
Housing price increases are actively harmful to those who want to upgrade, since it increases the incremental cost of upgrading.
Housing Taxes also increase.
Exactly.