I see charts from the 1960’s – 2000 showing wages keeping up with the cost of housing. Then there’s a huge boom in housing cost. What factors caused the price to jump so high? Is it only the low interest rates, or did something else happen?
For example: [https://imgur.com/a/8HWIlqx](https://imgur.com/a/8HWIlqx)
Edit:
This guys just uploaded a video today answering the question I posted. He says a lot of the same things that you guys said too[https://www.youtube.com/watch?v=eL9DBjfhWAE](https://www.youtube.com/watch?v=eL9DBjfhWAE)
In: 50
I think their are several factors. Supply and demand are most likely the primary reason, though.
The boomer generation laws around the building restrictions helped reduce supply. Then, corporations realized renting could be profitable and started buying up homes. Even China is buying up US homes and renting them.
Less homes built and fewer homes for sale equals higher value.
Edit – I get several calls a year from companies wanting to buy my house and asking if my neighbors might be selling soon. Companies… not real estate agents.
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