U.S. house prices are rising exponentially faster than income

Re:U.S. house prices are rising exponentially faster than in... by refurb on Saturday October 30, 2021 @05:17AM (#29047295)

It’s $1.5M because of limited supply, not because it has to be that expensive.

You’re ignoring two things: 1) many people don’t care about city living just access to jobs, thus a cheaper city with jobs is a good substitute and 2) sure there is a price premium, but $600k seems more reasonable than $1.5M.

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Re:U.S. house prices are rising exponentially faster than in... by maccard on Saturday October 30, 2021 @06:37AM (#29047679)

And you're ignoring that many people _do_ care about city living.

> sure there is a price premium, but $600k seems more reasonable than $1.5M.

So now you've built $600k houses, not $300k houses. And if there are desireable jobs in the area, that pushes the demand for thouse $600k houses up to the amount that is paid in the area.

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Re:U.S. house prices are rising exponentially faster than in... by danaris on Saturday October 30, 2021 @09:22AM (#29048555)

And you also need to bear in mind that a 2x increase in house price means much more than a 2x decrease in the number of people who can afford it.

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