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      10-14-2019, 11:12 AM   #100
Not Enough Garage Space
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Originally Posted by Run Silent View Post

With exception of certain markets where housing has gone insane, overall as a country, home prices per square foot are actually cheaper today than they were 50 years ago, when adjusted for inflation.

Not the fault of the costs of home ownership - the fault of people today making dumb ass financial decisions.
Sure this may be true for the USA as a whole, but those "certain markets" you mention are the markets that are most relevant. New York, LA, Bay Area, Austin, Atlanta, Chicago, Seattle, Denver etc. are where job growth is for the average young person. Beyond job markets, most folks don't want to live in middle-of-nowhere.

You're also seeing the "death" of suburbia, where 20-30 years ago there was plentiful demand for areas 60+ minutes outside of the main metros we simply don't see the same demand today...people want to live near the cities (where supply is low) even though there are plentiful options in the burbs.

Your data is probably accurate, but doesn't actually capture the whole picture. Not everyone can just throw down roots in the middle of nowhere. Sure, many folks are piss poor with their financial planning but it's not fair to make a general statement that "cost of living is lower" and it's "the fault of people today making dumb ass financial decisions."