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Views : 131,698
Genre: News & Politics
Uploaded At Dec 9, 2023 ^^
warning: returnyoutubedislikes may not be accurate, this is just an estiment ehe :3
Rating : 4.784 (333/5,832 LTDR)
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RYD date created : 2024-07-09T05:07:38.355342Z
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Top Comments of this video!! :3
They really a put a graph showing that overtime more houses are being listed in more expensive categories, with the original claim being that houses are getting more expensive ( a very circular argument) All that chart shows is the result of changing prices, not necessarily a change in supply patterns. Notice how the width of the tiers stays the same except for the bottom and top ones.
I can say from personal observation houses worth 200k back in 2017 are now worth like 400-500 in many cases. A better metric would have been construction cost adjusted for inflation, since that gives a better idea of what the actual input cost would’ve been.
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Lower income people living in the lower cost homes can not afford to trade up in a high interest mortgage market. It is more economical to stay put with your lower interest rate mortgage in place until rates come down. They are also spending a higher percentage of their incomes right now on higher cost food.
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@andrewklang809
11 months ago
I bought a condo about two years ago. The realtor was talking about how people, including her, would often buy second homes just as investments, with no intention of living there or even subletting. It was the most normal thing to her. I told her that that was buying up a home that could have gone to someone else and driving up all house prices. She didn't blink.
Combined with all rhe stories you hear about rich people from overseas buying up whole apartment buildings in major cities just so they have a safe place to keep their money, it's clear property is just another way the rich getting richer is directly leading to the poor getting poorer. Ain't nothing trickling. Money stays up.
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