Inflation is helping house prices a lot at the moment. I think we will see a modest drop in prices around 10% in total but which will amount to 25-30% in real terms due to inflation. Hard to see drops much greater than that happening due to the supply constraints making rental costs also very high.
Inflating away the high house prices seems to be the least painful way for housing to become more affordable.
People who’ve had to buy in at high prices don’t get completely shafted, while housing can potentially become easier to obtain.
There’s been a thousand predictions of house prices falling over the past decade for a hundred reasons, and every single one falls over the fact we have a drastic shortage of housing and no credible plan to increase the speed we build them.
25-30% in real terms is pure fantasy pulled from your arse and it’ll never happen, not even close. Does Lemmy have a remindme bot so I can come back in 6/12 months and point this out?
Inflation is helping house prices a lot at the moment. I think we will see a modest drop in prices around 10% in total but which will amount to 25-30% in real terms due to inflation. Hard to see drops much greater than that happening due to the supply constraints making rental costs also very high.
Inflating away the high house prices seems to be the least painful way for housing to become more affordable. People who’ve had to buy in at high prices don’t get completely shafted, while housing can potentially become easier to obtain.
There’s been a thousand predictions of house prices falling over the past decade for a hundred reasons, and every single one falls over the fact we have a drastic shortage of housing and no credible plan to increase the speed we build them.
25-30% in real terms is pure fantasy pulled from your arse and it’ll never happen, not even close. Does Lemmy have a remindme bot so I can come back in 6/12 months and point this out?
They are already down 13% in real terms since March 2022.
I didn’t pick this number from nowhere in this opinion piece you have a couple of expert predictions in the 20-35% range.