hh on Nostr: In most major metro areas in the West, we have achieved peak Kafka in the sense that ...
In most major metro areas in the West, we have achieved peak Kafka in the sense that people pay monthly rentals that are lower than what a bank loan would cost, but they can't access the loan to begin with because the banks require downpayments that are impossible to gather. So, you can see people who religiously pay their monthly rental, without fail, for years, and years, but they still don't qualify for a loan.
i always heard the adage home price = 2X annual salary of the people who life there. I suppose with really low interest rates that could go up to 3X.
someone told me 6X at one point in 2020!
i just don't see where all the people who can afford such houses are coming from. so IMO, the house prices in most places will all have to fall relative to median income.
Published at
2024-11-07 11:01:06Event JSON
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