Home prices hit an all-time high in June, even as the housing market continued its post-pandemic slump.
The median price for an existing home sold last month was $435,300, besting the previous record, set in June 2024, according to data from the National Association of Realtors. But overall, sales numbers were at a nine-month low, seasonally adjusted. Sales in June decreased 2.7% from a month earlier.
How can prices be so high when the market is so slow?
“Today’s housing market is really haves and have-nots,” says Jessica Lautz, deputy chief economist at the National Association of Realtors.
invertedspear@lemmy.zip 4 days ago
Make a new law that a corporation cannot own single family homes and individuals cannot own more than two single family homes, condos, or cabins and the housing issue is solved. People can still have a vacation home, or a single rental property, a few for a married couple, but they don’t get to own 50 homes anymore unless they want to run an apartment complex. I do think there is societal value in rentable single family homes, but it’s gone too far.
Give them one year to divest, and start charging a tax if they don’t that starts at 25% of the homes assessed value, and raises 25% every year thereafter.
Scolding7300@lemmy.world 4 days ago
And ban airbnb for longer than X months per property per year
fodor@lemmy.zip 4 days ago
X weeks. :-)