When two people move in together so that they now only have to pay 1/2 the rent of a house, that means the rent of each house can double and the occupants can still afford it.
There’s a way this plays out where both home price and rent double, but an increasing number of houses sit on the sidelines empty. Watching the commercial real estate market over the past decade, that scenario doesn’t strike me as outlandish.
I know people who have gotten <2% mortgages, which is like a 0% interest mortgage. These are private individuals. What rates do you think banks the super wealthy are getting?
Nothing can go down until rates go up. Hell BTC went up after the Senate passed a bill that could really curtail adoption of it... because nothing can go down. Money printer go BRRRRRRRRRRR...
A lot of this is to diversify out of equities which will soon crater ala 1929. The problem is that hundreds of empty track houses don't have value either. I think they know that; I think they feel they don't have much choice. Desperate times.