My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable
Oh, I 100% agree that one of the biggest issues is due to corporate mass house purchasing and squatting. But my understanding was that is a problem in some large metros and the surrounding suburbs around those. For example, in San Francisco, much of the issue is due to NIMBY laws preventing high rise condos/apartments in many areas of the metro, which artificially suppresses the supply of new housing.
Really, there isn’t an all encompassing, singular reason that’s driving up the prices everywhere, but a multitude of them. It’s a difficult problem to tackle, but it’s incredibly frustrating that most governments (local, state, and federal) thus far have made barely any effort to address it.