That’s not because people suddenly don’t want houses. It’s because costs have inflated up and wages are lower and less secure.
There’s a lot of noise here about how houses are fundamentally wasteful, we should all be living in apartments, etc. Thats all reflective of a young audience dealing with reality.
Houses are no more or less practical than they were in 1978. The difference is that on average, each household today is poorer than the last two generations in real terms.
Jobs and affordable real estate are in a teasingly inverse relationship. There is plenty of cheap real estate if you don't mind less than ideal areas with few jobs. That can work out for retirees but they wind up being ghost towns.
Booming cities are at times like a monkey's paw wish - you can get great pay, prestigious work, plenty of variety in services and there are many jobs but everything is inflated.
I agree with you completely. The allocation of resources to the luxury market is almost completely been up to the collective decision making of developers building the houses.
There’s a lot of noise here about how houses are fundamentally wasteful, we should all be living in apartments, etc. Thats all reflective of a young audience dealing with reality.
Houses are no more or less practical than they were in 1978. The difference is that on average, each household today is poorer than the last two generations in real terms.