[johnchristopher]

> The reason that prices are going up is because a lot of people want to spend a lot of money for the real estate

Hum. No. People don't want to spend a lot. But the whole system is built so owners can extract rent either from rentals or from buyers to which banks will lend enough money to meet the seller's price.

[hnarn]

> People don't want to spend a lot.

The fact that prices are going up proves this is not true.

[martin_a]

> The fact that prices are going up proves this is not true.

No. Prices go up because demand is higher than supply and people are forced to live somewhere (as in "reasonably near their work") and are therefore forced to spend lots of money on this. They wouldn't do so if they did not have to.

[barry-cotter]

Yes, that’s what happens in a market where supply is growing slower than demand. Prices go up. See levels.fyi for an example of this in the market for software engineers.