Great! Good news to fuel an already decent morning! Thanks
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The other thing that’s “artificially” driving housing prices up is the consistently constrained supply enforced by overeager zoning and labyrinthine permitting processes.
Thank Blackrock, and all the 401k/roth/retirement investment orgs for investing in Blackrock.
I’m sure there are many factors, but constructive (edit: constrictive) zoning plus rising population (ie rising demand) is itself sufficient to explain not only rising prices, but even accelerating price increases (since the demand curve isn’t linear).
That's only one element, and it's not everywhere.
In my city, it's the opposite. They're pushing for more home construction and less commercial.
The other problem areas have with rapidly growing the population is all the infrastructure that has to grow with it. My area has added three schools in the last 5 years and are near capacity, tripled water and sewer capacity (some future proofing), are constantly widening roads. They've started slow rolling rezoning so they can catch up which has caused home prices to jump 10% more compared to the surrounding areas.
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