– 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

In addition to over things mentioned, Millennials entered the height of their home buying years. GenX was a smaller generation than Baby Boomers, so that helped keep housing prices relatively lower for a couple decades.