As a life-long Californian, I don't recall a big building spike over the last 10 years in any mature market. In any year.
Texas and Florida seem to have built much more than my state.
I mention this because the last graph shows New Home Sales, Building Permits, and Boom-Bust Housing Markets.
As I look at the 4 markets mentioned under Boon-Bust, I infer those are the markets being listed under New Home Sales and Building Permits. If so, breaking it out by each of the 4 markets would be insightful.
If prices fall because of higher supply, we should welcome and applaud that outcome.
I almost own my house. Just a small mortgage at such a low interest rate that paying it off makes no sense. As someone who benefits from higher home prices, I am all for building more in California.
My home is in Marin County. Everyone here celebrates every time more land is set aside as Open Space (please genuflect when saying Open Space!).
My kids left the state and expect to never come back due to high home prices...and high just about everything else.
My son and his family did the same, move out of state. The house he grew up in Northern Calif would today require a $14k mortgage payment. It is not a fancy house.
I could not afford it either if I were moving in today.
Wondering if the surge in immigration has led to tighter housing markets in the “cities”. Recently moved my daughter within Brooklyn and realized that Brooklyn has a significant Latino population. More so than I thought. Lot of immigration in Manhattan as well (multi cultural). Litmus test is listening to all of the different languages being spoken. I would think the housing shortages are more acute in areas that experience an influx in population with limited opportunities to expand housing.
As a life-long Californian, I don't recall a big building spike over the last 10 years in any mature market. In any year.
Texas and Florida seem to have built much more than my state.
I mention this because the last graph shows New Home Sales, Building Permits, and Boom-Bust Housing Markets.
As I look at the 4 markets mentioned under Boon-Bust, I infer those are the markets being listed under New Home Sales and Building Permits. If so, breaking it out by each of the 4 markets would be insightful.
If prices fall because of higher supply, we should welcome and applaud that outcome.
I almost own my house. Just a small mortgage at such a low interest rate that paying it off makes no sense. As someone who benefits from higher home prices, I am all for building more in California.
My home is in Marin County. Everyone here celebrates every time more land is set aside as Open Space (please genuflect when saying Open Space!).
My kids left the state and expect to never come back due to high home prices...and high just about everything else.
My son and his family did the same, move out of state. The house he grew up in Northern Calif would today require a $14k mortgage payment. It is not a fancy house.
I could not afford it either if I were moving in today.
"If you’re in a market like New York, the housing market is always tight since supply is so low."
It's the densest city in the country. Supply per land area is higher than anywhere The market is tight because demand is so high.
Wondering if the surge in immigration has led to tighter housing markets in the “cities”. Recently moved my daughter within Brooklyn and realized that Brooklyn has a significant Latino population. More so than I thought. Lot of immigration in Manhattan as well (multi cultural). Litmus test is listening to all of the different languages being spoken. I would think the housing shortages are more acute in areas that experience an influx in population with limited opportunities to expand housing.