At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.
Honesty is saying that home prices have to fall. But this is progress.
The Generation Squeeze folks have recommendations.
the market drop was tied to interest rates so the effective monthly mortgage is unchanged. Unless you’ve got a million bucks under your mattress to pay up-front, houses are still unaffordable.
renters are people too, and their prices have gone up, not down.
It’s better to say “housing costs” rather than talking about the price itself. The costs wording includes things like mortgage interest, insurance, etc.