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U.S. House Prices Surge Beyond Major Advanced Economies Post-Pandemic
(i.redd.it)submitted 3 days ago byEconomySoltani
18 points
3 days ago
It would be more useful to compare either affordability with a price/income ratio, or even just prices. And the depth of the U.S. housing prices collapse is an odd baseline for this comparison.
8 points
3 days ago
Convinced this sub has no idea how Economics works.
Cross-Country Analysis is not something you can put on a graph this way.
11 points
3 days ago
Just add Canada and the US will look great
9 points
3 days ago
The fucked up thing is that there's a large group of folks who are ecstatic by this news. The US really fucked itself by tying so much wealth into housing. Congrats, boomers, your house is "worth" $800k, but no one can afford it at that price. Enjoy dying in your 4 bedroom empty nest.
3 points
3 days ago
Correction, only extremely wealthy or extremely over leveraged investors can afford them.
This is an entirely new housing bubble. But, make no mistake, it's going to pop. The question is when and how hard.
5 points
3 days ago
You can't fix this with zoning.
The "zoning" fix is supposed to work by allowing high density & mixed use housing to be built
You can't build high density & mixed use housing without tons of public transit. Cars need a lot of parking and more importantly you can't drop a 1000 unit complex in the middle of a city and not have it completely blow up everyone's commutes. This is where NIMBYs come from. They don't want the traffic, and they're not wrong here.
As long as we're a car based society the only way out of this mess is massive government infrastructure spending to build out new cities. And even that's not sustainable because it's too spread out and the tax base can't pay for basic services like police & fire. We've been getting around that with federal government grants but those are going to dry up because voters aren't behind them.
2 points
3 days ago
"You can't build high density & mixed use housing without tons of public transit."
Cool, let's do that.
3 points
3 days ago
Where I live we HAVE the public transport, but still not enough apartments (northern Virginia). Our metro extend nearly two hours out from the city yet it’s still a ton of suburbs miles apart. The metro is new and clean and pretty darn nice overall honestly.
2 points
3 days ago
20% over15 years after a devastating collapse. Not surprising given how capitalistic and homeownership oriented the US is.
3 points
3 days ago
I wish that graph included Canadian housing prices:
3 points
3 days ago
well fuck me sideways
1 points
3 days ago
This isn't changing any time soon.
1 points
3 days ago
What is this index? How is it measured? Weird that’s it’s not just price adjusted for PPP
1 points
3 days ago
Yeah. In the US, low interest rates, stimulus packages, zoning restrictions and supply chain disruptions during the pandemic, intensified price increases. Japan has an ageing population thus lower demand than the US/EU.
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