I see a lot of expensive houses being built in my area. A LOT. And the weird thing is that they’re being bought pretty quickly. Are these people just making more money than me? If so, what are they doing for a living? Or are they just living house poor? How exactly are they affording these places?

Edit: For reference, my neighborhood is starting to become popular (because the other popular neighborhoods have priced most people out of affording places there). The normal price of newer homes here is $700k. My home, built in 1965, which is 2500sq ft on a quarter acre of land, is $500k.

  • RickRussell_CAEnglish
    1•1 year ago

    What about “able to pay?”

    It means the same thing, unfortunately.

    Leaning on the market to set all of these values with no regulation means that the only people able to own property are the ones who start with capital and everyone else is SOL. I’m not ok with that.

    I’m not telling you how it should be, I’m telling you how it is. You can study rent control & related types of restrictions for how it might be different. But if homes are being priced out of your range in your geographic area, that’s because there are other buyers or renters willing to pay more, not because the house is owned by a corporation or a private citizen. The seller doesn’t decide how much the buyer or renter is willing – or able – to pay.