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Tafkam Hokie

Joined: 10/07/1999 Posts: 35179
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What's this?

Except there are quite a few non-capitalistic forces in play as well


The inflation in labor and materials is partially due to shortages, but also partly due to a massive increase in the money supply during Covid. We tried to fend off a depression and got inflation instead.

The country badly needs A LOT more affordable housing. But no one wants high-density/affordable housing in their neighborhood. They only want mcmansions on quarter acre lots, so that's the only kind of housing that can get zoning approvals. Which keeps the shortage alive and well.

And finally, the 2008-09 housing bubble (which also had quite a few non-capitalistic causes) killed an awful lot of building contractors, and that is a segment that still hasn't recovered. Even though logic says high home prices should drive more to be built, there aren't enough contractors, materials, or labor to build them, at least in the short term.

(In response to this post by UTPr0sim)

Posted: 03/23/2022 at 11:15AM


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Current Thread:
 
  Guess I've been living under a rock re real estate prices? (inside) -- FfxStationHokie 03/22/2022 1:43PM
  In the process now myself....its absolute madness -- hokiegoatzz 03/22/2022 3:03PM
  Supply shortage for buyers every house is a bidding war drives prices up ** -- HokieJamie 03/22/2022 2:45PM
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  Pent up demand -- Stork 03/22/2022 1:49PM
  Capitalism at its finest. Yet people complain..... ** -- UTPr0sim 03/22/2022 4:43PM
  Also regular people having to compete with "investors" who can pay cash.. ** -- HokieNoVA 03/22/2022 3:46PM
  ^^^Bingo ** -- hokiegoatzz 03/22/2022 3:53PM
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