Comment by sokoloff
3 days ago
Also known as “housing cannot be both a good long-term investment and simultaneously remain affordable over a long period of time.”
Many people have been sold on the former and will (fairly understandably) act to protect the value of their single largest purchase which often has a large mortgage attached to it.
Many people overlook the effect of 30 years of general inflation on their outstanding mortgage debt. Also, most people's income rises as they age, so the monthly payment becomes proportionally smaller. If you buy around 30-35 (and many in the US, outside of crazy areas, buy much younger), then their income will rise for long periods of their mortgage.