Quote:
Originally Posted by someone123
Analyzing the table requires at least econ 101 level theory. If you have new housing supply you can have population growth with flat housing prices (sunbelt). If you have no supply and no population growth you can have flat prices (Japan). If you have population growth and no supply, prices spike (Canada).
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The consideration that the worst affordability change in the US has been in some Sunbelt cities and low-growth/low-construction cities like Detroit and Philadelphia would suggest that there is more to it than that.
One of the bigger factors is that despite population growth or supply levels, incomes have kept pace with housing costs in much of the US.
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