Why do people think the 80s were a boon? People struggled. Remember mortgage rates were over 15% at points, and averaged around 11%. Sure houses were cheap, because financing was so expensive...
Houses were cheap because there were way less people and boomers had an exodus from cities into brand new suburbs. Houses are expensive now mostly because cities refuse to allow new dense housing to be built where people want to move
That's not how that works. The houses haven't just been sitting there since time immemorial, waiting for buyers and now, suddenly, they've all been bought. They get built as a function of demand. The issue today is that only luxury housing gets built and it's only for rich people, anyway.
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u/TelephoneNorth8640 18h ago
Why do people think the 80s were a boon? People struggled. Remember mortgage rates were over 15% at points, and averaged around 11%. Sure houses were cheap, because financing was so expensive...