The price of housing increased to historical proportions in just three years of the Biden-Obama Administration.
This tweet says it all.
The reason the housing market is where it’s at varies.
On one side is the declining value of commercial real estate assets. Commercial real estate since COVID has declined drastically as companies realized they could save money having employees work from home. Offsetting this was poorer production.
On the other hand, the housing market is going up. This is in large part due to entities moving their investments in commercial real estate to residential.
But the market is slowing because Americans now have to borrow at higher rates and the percent of income, which has not increased with inflation, is over 50%. This is a hammer on middle income families.
Housing cost from 1995 vs 2019 vs 2023 🚨🚨🚨
Great video walking thru the pricing and income. Explains why the last 4 years have been a huge change in the housing market.
— Wall Street Silver (@WallStreetSilv) August 15, 2023