I hope that all the Millennials and GenZs who think they are uniquely screwed by home mortgage costs look at this graph. Your parents had it worse.
zeusomally on
So house prices are going up(as a percentage of income), but mortgages going down?  So the loans are longer then? Â
FelisCantabrigiensis on
You can really see when housing shortages began to become significant – from the late 1990s onward. After that point the price is entirely correlated with purchasing power, which is caused because if there is a shortage of supply compared to demand, the price is entirely determined by how much people have available to pay.
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I hope that all the Millennials and GenZs who think they are uniquely screwed by home mortgage costs look at this graph. Your parents had it worse.
So house prices are going up(as a percentage of income), but mortgages going down?  So the loans are longer then? Â
You can really see when housing shortages began to become significant – from the late 1990s onward. After that point the price is entirely correlated with purchasing power, which is caused because if there is a shortage of supply compared to demand, the price is entirely determined by how much people have available to pay.