>Unless the housing supply increases this will just be a temporary thing.
The housing supply will increase dramatically in the next decade, not by building but by attrition.
More than 55% of all homes in America are owned by Silent Gens or Boomers[0]. That figure includes non-SFHs, of SFHs I've read they own >70% of (lost my source unfortunately). They are going to start dying of en masse within the next decade. That means A LOT of SFH are going to hit the market, all around the same time.
The share of millenials and genzers who are financially fit to even purchase a home are going to be far less than the amount of people who are dying.
For the non-believers, it's all written in the demographics. Unless we import a shit load of migrants who can also afford expensive real estate, or we print money so that institutions can buy these properties, the prices are going to sink like crazy.
The housing supply will increase dramatically in the next decade, not by building but by attrition.
More than 55% of all homes in America are owned by Silent Gens or Boomers[0]. That figure includes non-SFHs, of SFHs I've read they own >70% of (lost my source unfortunately). They are going to start dying of en masse within the next decade. That means A LOT of SFH are going to hit the market, all around the same time.
The share of millenials and genzers who are financially fit to even purchase a home are going to be far less than the amount of people who are dying.
For the non-believers, it's all written in the demographics. Unless we import a shit load of migrants who can also afford expensive real estate, or we print money so that institutions can buy these properties, the prices are going to sink like crazy.
[0]https://ipropertymanagement.com/research/homeownership-rate-...