Saturday, December 14, 2024

Tag: Something’s Rotten in the American Real Estate Market

Something’s Rotten in the American Real Estate Market

by Daisy Luther, The Organic Prepper:

We all know something’s rotten in real estate.  Even people paying no attention to markets notice how dramatically rent and property values have risen.  In my area, property values have quintupled in the last ten years. What bought a house on acreage ten years ago now wouldn’t get you a small house on a tiny lot in a terrifying neighborhood.

It’s not that tons of people are moving to my state.  Nearly as many are leaving.  It’s also not that there is a building shortage.  Enormous housing subdivisions are going up, but they’re full of $500,000 homes in an area where the median income is $80,000.  It just doesn’t make sense.