– I keep hearing the housing market in the USA had such a price surge because of demand increase and a lack of housing. Why did happen all of a sudden? There wasn’t some huge increase in people too.

Question

Secondly- What would it take for prices to change?

In: Economics

Answer 1

Not as an answer to your question but context that helps inform what’s going on “around” this topic— The number of immigrants needed to maintain GDP is around 1 to 1.2 million immigrants per year to sustain GDP growth [without factoring in any economic expansion/growth at all].

We need a million new people to move to the US…. *every year* for the US economy to *not* shrink.

Now think of how often you hear about people say “I don’t want those apartments built near where I live— it will bring down my home value” and you’ll start to understand how fucked we really are.