I get trying to fix problems by removing bad taxes and red tape, but I don't think this will go far enough. The bigger problem is when older people who bought their home 30 years ago for 100k are trying to sell their house (supposedly) now worth 4 million without thinking about how it possibly makes sense to be selling at such a markup. Or am I to believe the house is really worth 40 times more than it was 30 years ago?
Less crazy than this example is the median cost of houses going up from 143k in 1997 to 414k in 2025. This is still a major increase, since the price of a house tripled while incomes most certainly have not.
I have to wonder how many housing market issues are more of an isolated issue in major urban areas rather than universally true across the board, but I have seen housing prices higher in rural areas as well to a lesser extent, so it is effecting everyone to some extent.
We are going to need to see housing prices be allowed to drop majorly for a proper rebalance to occur. I think the Boomers can manage to not sell their house at quite the inflated rate that many of them are doing. They should have more to their nest egg than their house. And if not then that is their problem.
We should have already been restricting immigration, but that is "racist" according to our traitorous politicians. That would also alleviate housing demand.
@houseoftolstoy Solvency will be an issue, but imo the biggest issue is tax reciepts on all levels of government. Loval governments are very economy involved now a days as well so the ability to maintain anything with the current taxation as jobs collapse & earning collapses into homes causing broader solvency issues makes a MASSIVE tax burden which will plume the expenses of the state even harder.
@houseoftolstoy It is not just the boomers, but most people I know are just all in on their homes and 401ks. They just autopilot assuming they'll have a retirement at 65 in their work retirement vehicle instead of having it as a supplement. Many people let in lifestyle creep.