The nation has not yet embraced the idea that housing needs to be more affordable, or that it's the most important economic and social issue facing the country.
Free money being handed out in the billions, and yes - supply and demand. A lot of people got very rich during covid, and a lot of people took advantage of those that could no longer afford their houses so had to sell them. More people were wanting to buy than were selling, and lots of them were in desirable areas where previously houses weren’t really available. About 6 houses in my street who all bought their house and land for ~$300k sold for over a million during COVID to cashed up out of state-ers, and prices just kept going up and up as more put their houses up for sale to cash in, with massive bidding wars. More demand than supply does that.
There was a redistribution of wealth towards the extremely rich, not sure why we’re blaming that on immigrants.
Do you have any resources about the rest of your points?
Free money being handed out in the billions, and yes - supply and demand. A lot of people got very rich during covid, and a lot of people took advantage of those that could no longer afford their houses so had to sell them. More people were wanting to buy than were selling, and lots of them were in desirable areas where previously houses weren’t really available. About 6 houses in my street who all bought their house and land for ~$300k sold for over a million during COVID to cashed up out of state-ers, and prices just kept going up and up as more put their houses up for sale to cash in, with massive bidding wars. More demand than supply does that.
There was a redistribution of wealth towards the extremely rich, not sure why we’re blaming that on immigrants. Do you have any resources about the rest of your points?
Where did anyone do that?
Are you arguing that prices went up because demand…dropped? Or what do you think the cause was? House sales went through the roof.