alt Hacker NewsThis is extremely silly.
Prices are high because we don't build enough houses which is mostly because it's really expensive to build houses, then the houses we have built are all owned by empty nesters and people with 1 - 3 investment properties.
Everything else you're describing is completely ridiculous.
Replies
patrick451 • last Thursday at 1:20 PM
"We don't build enough houses" does not explain the massive spike in prices we have seen in the last 5 years.
kapone • last Wednesday at 11:39 PM
[dead]
> which is mostly because it's really expensive to build houses,
Assuming you're referring to the typical high CoL areas, the shortage has very little to do with the expense of building. The zoning laws don't permit sufficient supply in those areas. And that's quite unlikely to change (at least quickly) because anyone pushing such reform would be obliterating the average Joe's net worth.