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Lolwat420 t1_j9c7b4x wrote

Technically price controls already exist, it’s called supply and demand. The price of homes drops when there is a larger supply of new one’s entering the market.

The ‘08 crash hurt home builders bad, and they haven’t recovered. Now there are so few new homes out that the prices of existing homes are so high. Now that the interest rate has more than doubled, it’s definitely going to see a drop in prices, but I’m not sure for how long.

We need new homes, that’s it. More properties means price competition, and that’s better for the consumer

Edit: a word

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pumpkin20222002 t1_j9cyyq9 wrote

It's a cycle that isn't sustainable, wages haven't kept up with inflation since the 80s so now it takes 2 people 30yr, 45yr mortgages with little downpayment to get a house, it's not supply and demand it's easy lending and low wages in a system dependent on non stop growth that guarantees inflation and a wealth gap where billionaires accumulate and don't redistribute wealth back into the system.

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