Lumber crash leads to 'blowout' sales as prices crater

Re:Lumber crash leads to 'blowout' sales as prices crater by ryan93 on Wednesday September 15, 2021 @11:15PM (#28547540)

I think people have just increased the fraction of their income they are willing to spend. If people in Austin will spend 50% of income instead of a third prices can go up a lot

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Re:Lumber crash leads to 'blowout' sales as prices crater by Bombthecat on Thursday September 16, 2021 @03:38AM (#28549117)

Yes, this.

There was a question why people want to move to Munich even though it is the most expensive city in germany.

Answer : because it is a city! Disco, cinema, stuff to do in your free time.

And more and more people are willing to sacrifice 2/3 (or more) of their income just to live in the city. (also part of the first question)

So, i dont see rent going down anytime soon.

And if there will be a recession, even more people are willing to sacrifice everything, just to move to the city.

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Re:Lumber crash leads to 'blowout' sales as prices crater by tayo42 on Thursday September 16, 2021 @12:14AM (#28547924)

People over spending is the only thing that makes sense

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Re:Lumber crash leads to 'blowout' sales as prices crater by itsoktocry on Thursday September 16, 2021 @12:06PM (#28553540)

>If people in Austin will spend 50% of income instead of a third prices can go up a lot

Exactly this. Somewhere along the lines in the past decade or so, it became completely normal to lend people 10x their income to buy a home, when historically that figure was 3.5x.

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