Quote:
Originally Posted by laniroj
No. I was impressed that someone other than myself equated our housing crisis with the FACT that we produce the same number of pure housing units today with double the population as we did in 1975 with half the population. If those numbers don't make sense to you, I can't help you understand. I have been saying this for a decade, but nobody ever listens (or doesn't want to because facts aren't convenient for narratives).
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Over the decades real estate has been notoriously cyclical
While part and parcel with the whole economy, real estate led the charge.
The 1970's - were Peak FHA efficiency.
Per the era, land was readily available and cheap. Entry-level home neighborhoods were all the rage. If you wanted to buy a home then just skip lunch and use your lunch money as a down payment. No Biggie; if you were a working stiff for Pepsi Bottling Co you could afford the payments for both home and car.
Good guess that 1975 was the Peak. Then Jimmy Carter got elected and the fun of hyperinflation arrived. (Not his fault unless you are a Republican, then ofc it was his fault). Try buying and selling homes when interest rates are in the mid/high-teens. Ya think the numbers were down a little? (hehe)
The 1980's
Here we go loopty loo
Here we go loopty li
Here we go loopty loo
All on a Saturday night
Especially in Denver the 1980's went from Oil & Gas Boom of the 1st have of the decade to the O&G Bust of the 2nd have of the '80's. There were neighborhoods where it seemed nobody lived there; especially in Aurora which made the stupid mistake of allowing All That Density. Back then 'affordable homes' were a euphemism for 'undesirables.'
The 2010's
Following the Great Recession, land was neither readily available and definitely not cheap. Lenders were understandably finicky and the Power Players had no interest in building homes for the "unwashed masses." Instead they built upscale homes or homes for the upper crust. Now you wonder why there's a shortage of affordable homes?
Without context; without understanding what happened and why, statistics are mostly worthless, especially since they're so easy to "cherry pick."