Housing Bubble 2020 Sacramento

[sacguy71]

I heard someplace that it would take a million new homes built each year for a decade to level the inventory out enough to make homes affordable and available to more people here. Anyways, the shortage has made buying a challenge.

[Racer46]

Originally Posted by sacguy71

I heard someplace that it would take a million new homes built each year for a decade to level the inventory out enough to make homes affordable and available to more people here. Anyways, the shortage has made buying a challenge.

The number of people looking to buy each year is more than the number of homes, condo's etc available. It isn't just permits either, it is workers, wood and other supplies and there is a limit on such being available. Plus builders want the most they can make, not the least and more homes would drop their sale price, but not the cost, so they are not likely to ramp up the numbers being built. Now Cities probably like high prices as the property tax amount goes up as well.

[sacguy71]

@Racer46 yeah housing will not crash long term over next 20 years maybe a dip but supply much greater than demand and with low interest rates into the future won't change. Each home I looked at had dozens of people in line to tour and multiple offers.