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pixxelkick , 4 months ago No, it truly is, because that’s how numbers work. Median income should not be buying Median homes because that ignores the entire existence of renters markets. You have to factor in the enter renter market plus the buyer market combined. And if you do that then the Median price of a home suddenly plummets, as now your average home is a very nice well off apartment. People hate on the concept of renting, but the real issue is unregulated renting. Renting serves a critical economic role for people so it needs to exist. But collusion and bad actors have poisoned the renting markets in many cities unhindered and that does need tackling.
No, it truly is, because that’s how numbers work.
Median income should not be buying Median homes because that ignores the entire existence of renters markets.
You have to factor in the enter renter market plus the buyer market combined.
And if you do that then the Median price of a home suddenly plummets, as now your average home is a very nice well off apartment.
People hate on the concept of renting, but the real issue is unregulated renting.
Renting serves a critical economic role for people so it needs to exist.
But collusion and bad actors have poisoned the renting markets in many cities unhindered and that does need tackling.