[quote=patientrenter]The title is very telling. Apparently a lower demand for owner occupied housing – in other words, lower house prices – is considered “ruin” for the housing market.
In reality, the more affordable housing becomes, the better for the economy and for society at large. Would we cheer for higher oil prices? Or for higher bread prices? Housing is just a simple consumer good, and cheaper (for the same quality) is better.[/quote]
Well said. Furthermore, if housing does become more affordable, then those same Millenials may start rethinking their strategy as buying becomes more cost effective than renting.
Yes, even who value education, people and leisure more than other generations will still do the basic personal financial analysis of “rent vs. buy”, especially when they have a family – and I’m right in saying young people are still having sex, yes ?
