@Amoxtli
This is not a supply/demand *imbalance*, it's a slow return to affordability. What was going on during the pandemic was the imbalance. It will be balanced when we have no homelessness.
What the article does not mention is interest rates. It was an interest rate induced demand in conjunction with the pandemic that made people flee lockdown states. Mortgages are more expensive than they were 5 years ago. The Federal Reserve had to tighten monetary policy in response to the inflation and supply chain squeeze created by global lockdown policies.
2 Comments
cshlan@dawdling.net · 0 pts · 1y
@Amoxtli
This is not a supply/demand *imbalance*, it's a slow return to affordability. What was going on during the pandemic was the imbalance. It will be balanced when we have no homelessness.
Amoxtli@thelemmy.club · 0 pts · 1y
What the article does not mention is interest rates. It was an interest rate induced demand in conjunction with the pandemic that made people flee lockdown states. Mortgages are more expensive than they were 5 years ago. The Federal Reserve had to tighten monetary policy in response to the inflation and supply chain squeeze created by global lockdown policies.