There is such an over abundance of housing available, what’s to stop it from becoming so affordable that anyone with a halfway decent income can just buy a house as easily as they would buy a car?
A 20% down payment and good credit. That along with investors would purchase the homes and rent them out far before it became extremely cheap to buy a house. In all reality, anybody who wanted to buy a home in the last few years was able to. The proof is home ownership rates going from 65% up to 70% in those years, but now that number is dropping again.
