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[–] 5 points 2 months ago (1 child)

The biggest issue is lack of construction. We’re building fewer units now than we were in the 1960s, despite having double the population today.

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  • [–] 1 point 2 months ago

    There's been way more new houses built in the greater area in the last 10 years than were ever built when I was growing up.

    Adjusted for inflation I probably make about 60% more than my stepdad did when they bought a house in 1997. That house is now worth almost 5x what the bought it for. And the mortgage for the house as a first time homebuyer is probably close to 8-10x what it was for them.

    The house next to my friends probably needs to be a complete rebuild and it's likely going to sell for 800k. It is a good location but it's not particularly big and is unlivable best case you could take it down to the studs but I didn't even think that is actually enough to fix it.

    Must of the rentals here are owned by a few family owned property management companies.

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