The price of homes has skyrocketed far beyond reach of the average person. Today, it seems rather unlikely that the younger generation will be able to AFFORD a home. Sure anyone can buy anything. But can it actually be paid off? Well in most cases, the answer is no. With increasing interest rates, there’s no way that this can be sustained. Recently, we have seen home prices actually start to stagnate or even decline. Unfortunately for many, they may be underwater and carrying a lot of burdensome debt.
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Inventory of homes for sale is soaring in Las Vegas | Las Vegas Review-Journal
https://www.reviewjournal.com/business/business-columns/real-estate-insider/inventory-of-homes-for-sale-is-soaring-in-las-vegas-1551864/
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Toronto New Home Prices Post Biggest 12-Month Drop Since 1996
https://www.bloombergquint.com/onweb/toronto-new-home-prices-show-biggest-12-month-fall-since-1996#gs.yNU9clE
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Interactive: The Geography of America's Distressed Communities
https://www.visualcapitalist.com/america-distressed-communities/
2018 Millennial Homeownership Report: American Dream Delayed - Rentonomics
https://www.apartmentlist.com/rentonomics/2018-millennial-homeownership-report-american-dream-delayed/
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Thanks!
I bought and own my land. I had to save for a decade and only bought what I could buy in cash. This meant I couldn't buy a house just land. so I'm homesteading :)
Well you’ll never be able to keep it here in communist Illinois . With some of the highest property taxes in the country , some poor folks are paying as high as $15,000 for less then one acre lot . I know of several situations in were people are not going to be able to make that tax payment , and I don’t know how that works exactly with possibly missing a payment , but stay tuned and I’ll do a little digging on that , and put it up here on my comments .
It's very informative to know all this, seriously, lands can be considered cheap here in west Africa perfectly understand too how and why land prices are getting out of hand. Don't worry, the new wave of new ideas coupled with technology will make things easier eg. 3D printed house, lease lands, ability to have a load on a land. And so on.