Will houses ever become affordable again?

[Anonymous]

The increase in prices over the past few years has been so dramatic. Is there any scenario where houses become more affordable?

[Anonymous]

Yes, as the Boomers start to move into care homes and die, lots more will become available, and there won’t be such intense competition.

[Anonymous]

It’s inflation.

[Anonymous]

Anonymous wrote:Yes, as the Boomers start to move into care homes and die, lots more will become available, and there won’t be such intense competition.

Around here those boomers will just leave their kids or grandkids a big inheritance that the next generation will use to buy their home.

[Anonymous]

Anonymous wrote:Yes, as the Boomers start to move into care homes and die, lots more will become available, and there won’t be such intense competition.

Those homes will likely be complete gut jobs or tear downs so I would not hold out hope for them.

[Anonymous]

Anonymous wrote:Yes, as the Boomers start to move into care homes and die, lots more will become available, and there won’t be such intense competition.

It is actually lazy Gen Z men who won’t launch many are saying will cause a 20 percent correction in around 10 years

[Anonymous]

Anonymous wrote:Yes, as the Boomers start to move into care homes and die, lots more will become available, and there won’t be such intense competition.

Best laugh I've had in a while. Thanks for making my day!

[Anonymous]

I do think prices will stabilize and we'll have a few years of incomes slowly catching up.

But places in DCUMlandia are always going to be expensive. Get a better job.

[Anonymous]

prices won't fall but they might stabilize for a while. That's the best you can hope for and only in less desirable areas.

[Anonymous]

Anonymous wrote:The increase in prices over the past few years has been so dramatic. Is there any scenario where houses become more affordable?

No

[Anonymous]

If we build more housing. Basically the great recession killed housing starts and they have never gotten back to where they were.

[Anonymous]

Anonymous wrote:If we build more housing. Basically the great recession killed housing starts and they have never gotten back to where they were.

That won't affect the prices because if you build it, they will come. So many people want to live here, they just keep packing them in. Increasing supply from an economic principle should lower price but in reality for real estate in the DMV that won't happen and hasn't happened because more and more people just keep moving here. So more demand with more supply.

That was part of the missing middle argument, that home ownership is like a property ladder and in order to make those apartments and homes more affordable at the bottom of the ladder, we needed to increase supply in the middle and people move up the ladder, freeing cheaper housing, stabilizing prices. But that assumes a limited demand. In reality, there is just too much demand and it keeps increasing. Hence you can keep building gigantic $2 million duplexes and THs and people will STILL buy them. Prices will never go down here.

[Anonymous]

The only way is to buy further out (loudon county) and then move closer and closer into dc by upgrading as you build wealth. There’s no way to get an expensive house without a high income.

[Anonymous]

Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

[Anonymous]

There's a couple things in play -- but who knows how it will all work out. If interest rates come down - there might be more supply (people are currently holding onto homes because they don't want to take on a higher interest rate on a new home but might if the rate comes down). However there will also be more demand. How these 2 things play out - who knows. I also see a lot of older people who "might" sell at some point (at least where we are looking).