Rising mortgage rates to reduce number of homes available for sale. (housing, price)

[Serious Conversation]

https://www.msn.com/en-us/money/mark...80H?li=BBnbfcN

Here in my local market, we have two separate housing markets really. Basically a "nice" market with quality homes above $250k or so that would be "normal suburban housing" anywhere. New construction in my area is just terribly low - and there is barely anything on the market for under $250k. Meanwhile, median household incomes are below $40k and the other half of the housing market is filled with 30+ year old junk that is mostly all original.

When will the madness end?

[just_because]

Originally Posted by Serious Conversation

https://www.msn.com/en-us/money/mark...80H?li=BBnbfcN

Here in my local market, we have two separate housing markets really. Basically a "nice" market with quality homes above $250k or so that would be "normal suburban housing" anywhere. New construction in my area is just terribly low - and there is barely anything on the market for under $250k. Meanwhile, median household incomes are below $40k and the other half of the housing market is filled with 30+ year old junk that is mostly all original.

When will the madness end?

This post is difficult to follow and your point is not clear. What is 'low' about new construction? The price? The volume? The altitude? One story vs. two stories?

$250k is nothing for a free standing house on a plot of land but I don't pretend to be in touch. 30+ year old junk??? Mostly all original??? If household incomes are below 40k, what do you expect people to be living in? It's a kind market if people on very low wages can afford single family homes. At some points I've made much more than 20x that all while living in 30 year old 'junk' with everything original.

What's the point of this post?