Quote (thesnipa @ Nov 3 2021 04:06pm)
why does a house cost inflate? just for fun? or because houses are far better today than in the 1980s? because they're not shitty uninsulated wall papered messes?
there is of course other factors, but a house isnt just a house regardless of the passage of time. my house was built in 1980, modernizing it is incredibly expensive.
there's plenty of nuance.
My house was built in the 40's. Yeah, not as good as modern houses.
But we aren't talking about inflation of prices of modern houses. We're talking the average price of houses. It's great that houses get better, but if the populace can't afford them who cares if they're more modern? You don't get one. You get to pay more in rent for your house than the inflation adjusted value of the mortgage on the house.
The far greater driving factor to pricing inflation of houses is that housing became a major investment vehicle, and as a result the price of houses has massively increased beyond the price increase from modernizing and beyond the price increase from inflation.
This post was edited by NetflixAdaptationWidow on Nov 3 2021 03:29pm