In my world, based on the people I know and the conversations I hear – I disagree. There is significant demand outside of sites like this.
All the 20 & 30 year olds, and everyone else who found themselves priced out of the market have been saving up. Fast forward 5-6 years, and many of those people have saved up down payments & are making a lot more money. A lot of people are having kids, and raising families.
Prices are falling, rates are still low, and there are going to be a lot of great opportunities to buy.
If young people were going to move back to the mid-west, they would have already done so. It’s always been cheaper there, nothing has changed. They didn’t however – they got roomates, lived at homed, they saved up.
And I think many of them (myself included) are going to be buying homes at very discounted prices, with very large down payments over the next few years.
People want to live in San Diego, and people who run their companies want them to be here & places like Silicon Valley, etc. Good luck getting VC funding with a company based in Idaho vs. San Francisco.
That’s just IMHO though. I’m under 30, so that’s the general age bracket I tend to associate with most often.
