Strongly disagree with you , I'm in Europe. I'm in the 25% richest of my state , I can't manage to rent a home because every time I contact a landowner for a property to rent there is 30+ person who applied before me within 4 hours...
Covid-19 has created a "remote economy" boom as well as accelerated household project to move to another state and acquire a property or just to invest in real estate.
Thus real estate market is performing just as expected... As long as the supply does not meet the demand the price goes up.
For crypto it's different , 99% of crypto transactions are speculation base. It's by design.
Why won't landlords raise prices then?
Rent control?
Not only are populations growing, but there is a net migration toward high demand areas.
Look at real estate listings in many smaller Midwest cities and you’ll see large inventories of very nice, very affordable homes. Older people are moving out but no one is there to buy them.
Meanwhile, many popular cities are fully built out. It’s musical chairs with existing housing inventory, plus a few high density reconstruction projects here and there.
We thought remote work would enable people to move away from expensive cities, but it turns out many people choose to live in popular, high-demand areas once they no longer have to live near their office.
As long as supply is fixed and demand continues to grow, prices will go up.
What? No, it’s the opposite. Suburban and rural homes have seen major price jumps in the past year while the most expensive cities have stagnated or dropped. For example Western MI has seen more price growth than the city of SF in the past year.
Not in my small Midwest city. Many houses are being sold in hours. Most of the time I see a new realtor, it is already sale pending. I have little doubt houses are being sold without being put on the market. There are realtors asking around my neighborhood if anyone is looking to sell because they have buyers interested in the area.
Here in my city, the rents are decreasing since COVID started and the prices keep skyrocketing. It also supports my hypothesis. Investors are just buying up properties and renting them out, lowering rents everywhere. It may come to a head sooner rather than later, once someone finds the mortgage is way higher than the renter is paying. But even then, I think many owners are willing to take a hair cut on their mortgage because they feel like "the market has performed so well, its worth it". But how long?
This does not seem to be true, most of them have small (< 1%) but positive growth I think.
What were you basing it on? Some of them have negative birth rates, but that isn't the same thing - and to lead to an overall decline in population immigration would have to be reduced by more than the delta.
Not if the supply of money is increasing. Also, different regions of the US are experiencing very different levels of changes in price.
Here in the UK, older people have not been leaving their homes because of covid lockdowns which is one of the reasons why there is a shortage of houses to buy. The one exception is retirement apartments.
The housing supply argument is completely accurate.
This is true. The question is, why would they? Generally, with a few exceptions like Florida, the places where the jobs are are also the best places to be old.