Inflation adjusted housing prices were basically steady from 1950 to 2000. Yet the US population went from 150 million to 300 million.
It is surprising that for most of the 20th century housing was very affordable and then something changed in the late 20th century that culminated in two housing disasters in the 21st (the first is the housing crash and now a housing market that basically excludes all but the rich).
With interest rates consistently over 7% and sometimes over 16%, a simple price chart doesn’t tell the full affordability story.
When rates fall under 4%, house prices will naturally be higher in desirable areas because a lot of buyers are buying on monthly payment, not headline purchase price. Cheaper mortgages make for more expensive houses.
You said that the size of the population determines housing cost.
Now, when I showed you this is totally wrong, beyond any doubt, you changed the story. Now it's the interest rates that determine housing cost.
This is like trying to have a discussion with an antivaxer. No matter what they say, you prove them wrong, and then they change their story, pretending like the nonsense they said before never existed.
Look up a chart of mortgage rates. You're still wrong. Bye!
https://www.russellsage.org/sites/default/files/inflation-ad...
Inflation adjusted housing prices were basically steady from 1950 to 2000. Yet the US population went from 150 million to 300 million.
It is surprising that for most of the 20th century housing was very affordable and then something changed in the late 20th century that culminated in two housing disasters in the 21st (the first is the housing crash and now a housing market that basically excludes all but the rich).