Median price for Phoenix house goes up to $450,000 (Yuma, Lake Havasu City: buy, schools)

[MN-Born-n-Raised]

Originally Posted by FirebirdCamaro1220

You obviously don't understand the domino effect. When there is a lack of public housing, more people compete for private rentals, which drives rent up, which causes increased amounts of people who wanted to buy to have to continue renting because rent takes up enough of their income that they can't save.

You are into these domino theories. Can I try? If broke people get a free bike, that will drive down the cost of gas which will reduce gas taxes causing less road construction. That will force more people to build vertical because of more congested roads (people want to be near work because of bad traffic). Which in turn will reduce suburban land prices and that will lead to lower rent prices! See, I understand the domino effect! All because of the free bikes!

[FirebirdCamaro1220]

Originally Posted by MN-Born-n-Raised

You are into these domino theories. Can I try? If broke people get a free bike, that will drive down the cost of gas which will reduce gas taxes causing less road construction. That will force more people to build vertical because of more congested roads (people want to be near work because of bad traffic). Which in turn will reduce suburban land prices and that will lead to lower rent prices! See, I understand the domino effect! All because of the free bikes!

You're being ridiculous by straw-manning my legitimate argument. The domino effect is real when it comes to real estate, that's why there are "expensive ghetto's" in places like Los Angeles

[MN-Born-n-Raised]

Originally Posted by FirebirdCamaro1220

You're being ridiculous by straw-manning my legitimate argument. The domino effect is real when it comes to real estate, that's why there are "expensive ghetto's" in places like Los Angeles

That one wasn't your 1st Firebird Economics theory. You forget to apply common sense. Because it quickly popped in my brain that there is less than 1% public housing in America. A quick check and I am right https://prospect.org/infrastructure/...ocial-housing/

"Today, public housing—1.1 million apartments that house about 2.1 million low-income people—constitutes less than 1 percent of the nation's housing stock. "

You tried schooling Sno over a nothing burger. My bike example was slightly less of an impact than your example.

[FirebirdCamaro1220]

Originally Posted by MN-Born-n-Raised

That one wasn't your 1st Firebird Economics theory. You forget to apply common sense. Because it quickly popped in my brain that there is less than 1% public housing in America. A quick check and I am right https://prospect.org/infrastructure/...ocial-housing/

"Today, public housing—1.1 million apartments that house about 2.1 million low-income people—constitutes less than 1 percent of the nation's housing stock. "

You tried schooling Sno over a nothing burger. My bike example was slightly less of an impact than your example.

Except there is a shortage of public housing, there are many times more people qualified for public housing than there is public housing in existence, which is why the wait list for Section 8 is between 8 and 10 years. So all those people who are qualified for public housing but can't be placed are in the private rental market currently.

So there goes your 1% statistic. Whoops....

[Sno0909]

Originally Posted by FirebirdCamaro1220

You obviously don't understand the domino effect. When there is a lack of public housing, more people compete for private rentals, which drives rent up, which causes increased amounts of people who wanted to buy to have to continue renting because rent takes up enough of their income that they can't save.

You're just grabbing at straws now, but I'll play along with your theory for a minute.

You previously claimed that the UK had it all figured out as far as public housing goes. That if the US implemented their housing regulations, a lot more people would be able to afford homes here.

So, why then do I read this about London? https://www.worldatlas.com/articles/...0Singapore.%20

tl;dr
London is a progressive metropolitan city, so most of the luxury property seekers have turned towards the estate property here. Even the tax exemption and lower bank loan interest rates have attracted buyers to the capital city, and the well-known billionaires from many foreign countries are buying their property here. It would take the average skilled worker 15 years of work to save up for an apartment in the city.

[FirebirdCamaro1220]

Originally Posted by Sno0909

You're just grabbing at straws now, but I'll play along with your theory for a minute.

You previously claimed that the UK had it all figured out as far as public housing goes. That if the US implemented their housing regulations, a lot more people would be able to afford homes here.

So, why then do I read this about London? https://www.worldatlas.com/articles/...0Singapore.%20

Funny your article mentions Singapore, where 80% of the population lives in public housing....

[Prickly Pear]

Originally Posted by Sno0909

You're just grabbing at straws now, but I'll play along with your theory for a minute.

You previously claimed that the UK had it all figured out as far as public housing goes. That if the US implemented their housing regulations, a lot more people would be able to afford homes here.

So, why then do I read this about London? https://www.worldatlas.com/articles/...0Singapore.%20

tl;dr
London is a progressive metropolitan city, so most of the luxury property seekers have turned towards the estate property here. Even the tax exemption and lower bank loan interest rates have attracted buyers to the capital city, and the well-known billionaires from many foreign countries are buying their property here. It would take the average skilled worker 15 years of work to save up for an apartment in the city.

It’s almost as if London is not building to demand, just like Phoenix is.

[FirebirdCamaro1220]

Originally Posted by Prickly Pear

It’s almost as if London is not building to demand, just like Phoenix is.

There is a perverse incentive for the private market to NOT build more housing, because if they built enough for demand, the developers would see less profit

[john3232]

US public housing -2050

https://www.youtube.com/watch?v=yoqav3uEXWI

[dontbelievehim]

Have you guys looked into Japan? I heard Tokyo has cheap rents.