News for hackers. Stuff that matters.

A comment on Mortgage Rates Jump Above 6%, Putting Pressure on Housing Market. Parent comment

Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by onlyrealcuzzo on Thursday September 15, 2022 @12:59PM (#32855005)
Considering the Fed single-handedly controls the value of money and demands that it declines by 2%+ per year, and home values have outpaced money devulation for the last 50 years - this seems like a reasonable long-term assumption.
[ Parent | on HN ]
Re:Mortgage Rates Jump Above 6%, Putting Pressure on Housing... by lotsofpulp on Thursday September 15, 2022 @01:01PM (#32855039)
Home (land) values in select locations have outpaced money devaluation.

The national median figures even lag CPI:

https://dqydj.com/historical-home-prices/

This probably manifests from increasing income/wealth inequality, in conjunction with inequality of how popular some places are relative to others. If your goal is to obtain housing that the top 20% or 10% are competing for, then you will experience prices rising much quicker than housing that the bottom 80% are competing for.

Here is another source showing the variance:

https://www.visualcapitalist.com/20-years-of-home-price-chan...

[ Parent | on HN ]