The true cost of housing is relatively flat across the developed world and especially the US. The actual cost is almost entirely a function of local politics.
We could have a flood of nice, brand new homes for $300k in Silicon Valley and nice older homes for $200k, in the same way a city like Tokyo or Houston does, if the people of California had not made the deliberate choice to pull up the ladder behind them.
We could have a flood of nice, brand new homes for $300k in Silicon Valley and nice older homes for $200k, in the same way a city like Tokyo or Houston does, if the people of California had not made the deliberate choice to pull up the ladder behind them.