Comments by "Fumble_ Brewski" (@fumble_brewski5410) on "Graham Stephan"
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Sorry, Graham, but your figures don't give a complete picture of the true condition of the housing market. The U.S. housing shortage has doubled in less than a decade. When you boil it all down, it’s an issue of supply and demand. Even before the pandemic, in 2019, the U.S. was short 3.8 million homes — both places to rent and places to own. That’s according to a new report out from the research group Up for Growth. The shortage is much bigger now than it was in 2012. Double, in fact. And it’s a big part of why home prices and rents are up so much. We’ve known for a long time that there’s not enough housing in certain parts of the country: places like Salt Lake City, Boise, Austin, Detroit and Atlanta. More than half of all metro areas in the country now have a housing shortage, Up for Growth found. Renters especially are getting hammered. In my locale, monthly rents for a 2br, 2ba apartment have risen from an average of $750 in 2019 to $1250 today. And that's without any accompanying increase in salaries or wages. Some places are experiencing an influx of out-of-towners with money to burn, and there's no end in sight. Sure, there may be a "crash" coming for some markets in the future, but for now the sky's the limit. Cheers.
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