Quote:
Originally Posted by HemiEd
No question about that part, it is pathetic what has happened to the starter home availability. I have two grandsons dealing with that very issue right now, it is sad.
Big investment companies have bought up much of the cheap housing for various financial opportunity reasons, rentals, flipping etc. It is maddening. Then of course these companies raise the rent to crazy numbers.
But, like I say, even 53 years ago, without the GI bill, I wouldn't have been able to do it either. $200 is all I could get my hands on.
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Starter homes are ridiculously overpriced due to a lot of those reasons. So when comparing to 40-50 years ago it’s just such a pointless exercise. Then, starter homes were being built and supply plentiful, while still being in good locations. But now those same homes are by and large occupied so you have to wait for availability and when it does come on the market you have compete because the location is good. The other option is to move 60 miles away for a comparable home size that’s is not being bid on by 10 people and Blackrock. The only starter size homes and prices I see being built are horribly ugly connected properties like duplexes/townhome communities that look like they purchased from a Sears kit.