The same is happening in many other countries (housing in my country is similarly overpriced related to income), and I have the same prob...
The same is happening in many other countries (housing in my country is similarly overpriced related to income), and I have the same problem - I'm renting, and housing is getting more expensive every year (as well as rent). I believe prices are cyclical and we should expect a "down" period, but when it will happen is always the question :) . Most economists believe cycles are almost inevitable, but "On average, upturns last more than downturns" and "the amplitude of upturns is also larger" Some googling found for example this paper, which includes Canada: http://www.imf.org/external/pubs/ft/wp/2011/wp11231.pdf It warns of "slow nominal price adjustment" during downturns, which is my experience as well (prices trail reality by 1-2 years during a downturn). So, you have to understand your reality, if you need a house in the next few years, they're not going to get any cheaper. If, OTOH, you can wait out the cycle and save money, you can probably make a good deal later. That is, unfortunately, not a choice for most of us.
Posted by GFischer on May 14, 2015, 11:48 AM
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Raise real-world problems, find people facing the same issue, and discuss solutions.6,500 issues0 comments
pricing (Housing)
> 1) Land is effectively nationalized under 100% LVT.
This low cost -> artist -> rich people movement of neighborhoods is something I observed happening in some cities I’ve lived in and it am...
From an admittedly selfish point of view, I also don't mind this.
> Oil is still underpriced wrt to its environmental cost.
If component prices keep going up and the respective monopoly/duopoly/triopoly for each component colludes to keep prices high&...
When I moved to the bay area out of college housing was too expensive for me to manage even working for a large tech company.
High housing costs is a key factor.
I know this isn't how our political system works, but if I were king of America I'd try to solve the problem of expensive housing like th...
The same is happening in many other countries (housing in my country is similarly overpriced related to income), and I have the same prob...
The same is happening in many other countries (housing in my country is similarly overpriced related to income), and I have the same problem - I'm renting, and housing is getting more expensive every year (as well as rent). I believe prices are cyclical and we should expect a "down" period, but when it will happen is always the question :) . Most economists believe cycles are almost inevitable, but "On average, upturns last more than downturns" and "the amplitude of upturns is also larger" Some googling found for example this paper, which includes Canada: http://www.imf.org/external/pubs/ft/wp/2011/wp11231.pdf It warns of "slow nominal price adjustment" during downturns, which is my experience as well (prices trail reality by 1-2 years during a downturn). So, you have to understand your reality, if you need a house in the next few years, they're not going to get any cheaper. If, OTOH, you can wait out the cycle and save money, you can probably make a good deal later. That is, unfortunately, not a choice for most of us.
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