Comment on Why is the price of real estate rising so dramatically?
intensely_human@lemm.ee 2 weeks ago
Because population is increasing faster than new housing is being built. There is a supply problem and demand is in elastic. The supply problem is the result of government’s continual suppression of new construction, via permitting red tape and overeager density zoning.
I was listening to the radio and they had said to keep up with housing demand in my area they would need to create 35,000 homes per year for 30 years. Meanwhile we get maybe 25 houses at most. In 6 years the typical rent has quadrupled.
Horrible world we live in.
hitwright@lemmy.world 2 weeks ago
I guess it’s by country basis. A lot of places have negative population growth yet the prices skyrocket. It does make me think what is the actual reason in those places