pixxelkick , 5 months ago

Some houses shooting up in price due to various (shitty) factors does not mean every single house has. Only a small portion of them have which has biased the average price up.

If 10% of houses go up x5 in price, the average price will now calculate significantly higher even if the other 90% only change a small bit.

This is a common thing people try and cite. “Yeah but some house skyrocketed in price so that must mean house prices are fucked across the board”

They aren’t, that’s just a fact.

The following are fucked areas:

1. Major City cores as the west’s renting markets are unhinged atm.
2. Closer to the core suburbs of tourist destinations for the Airbnb markets
3. Pockets of speculation areas that are being heavily gentrified.
4. Properties with land large enough to be potentially capable of being split into 2 smaller properties legally, as a speculation market. (This us why sometimes you see big old spots suddenly skyrocket, they satisfy the conditions to turn into 2 properties which can be lucrative if leveraged by a rental company)

Everything else had been fairly well in lockstep with inflation from what I have seen.