This chart shows why home prices will continue to be high and won’t just crash, but again I don’t have a crystal ball

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This chart sort of tells the picture. There are still 10 million housing units short in the US. It’s a mix of builders not keeping up with demand after the 2008 crash, millennials moving into better homes, and the work from home environment.

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Exactly my point, add supply chain issues(China going down again into a massive lockdown, Ukraine war etc.)

Lol no it does not

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I don’t see how the chart shows anything really other than how many private dwellings there are per person. Are the numbers that different than 2008?

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The chart is not saying it won’t cause a crash, I’m saying looking at the chart that there may not be a crash. People can look at data and come to their own conclusion, I may be wrong but that’s my opinion looking at the chart.

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You making this post explains exactly why the housing market will crash lol

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Explain this: on my block there are 3 abandoned houses. They have been vacant without windows for at least 20 years. Investors bought all 3 2 years ago for $400-600k. They have done nothing with them. What is the business strategy here? Why just let them sit? I will believe there is a housing shortage when I don't see houses going unused.

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They were owned by the city before. But why pay $600k to let them sit and rot? I'm trying to understand their business model other than to ensure someone else doesn't buy them and make them habitable. Artificial constraint.

So, every person needs a separate private dwelling? I think this chart says exactly opposite of what you are reading from this

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I think we will see a decline when interest rates go up. Most people have budget/limitations when they are home buying. For example, they may say I can afford $3,000 a month. Currently, this will buy you XYZ amount of house, but when interest rates go up, they will have to buy a cheaper place to achieve their 3k monthly payment.

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Yep there’s a correlation between lower interest rates and higher housing prices. Low interest rates are good for the buyer if you want cheaper payments but higher interest rates are actually better for the buyer if you want a cheaper house. A little more nuanced than people realize.

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