[treis]

What we spend on housing has doubled. That doesn't mean the cost has doubled. It means that we buy a lot more housing than we used to.

Real estate cost is local and there are parts of america where the prices have gone nuts. But there's a lot more where it hasn't and housing is affordable.

[bluefirebrand]

> But there's a lot more where it hasn't and housing is affordable

In many of those places salaries have been stagnant or work has dried up

So we have a weird situation where someone living in a big city with a large salary is priced out of real estate by high prices, and someone living in a smaller city with more reasonable real estate prices is priced out by a lower income

It's not universal of course, but it's a squeeze that a lot of people are feeling

[treis]

Most of the sunbelt isn't like that. You can buy a 4 bedroom house in Atlanta for 270k and a 2/1 for like 160 and salaries are fine.

[selectodude]

Both are true. We’ve made cheap housing illegal and we’ve demanded ever higher quality housing.

We need to allowed for revealed preferences. In developers we trust.