alt Hacker NewsAfter thirty years of house prices rising astronomically, you can't appeal to "speculation" any more. People are speculating because the underlying scarcity makes prices sure to rise.
I think if you look closely at "population down, house prices up" you will find normal supply-and-demand stories like "population down, houses down even more" or "population down (downtown), prices up (suburbs)".
Agree.
So often I see people complaining "people treat their home as an investment…". Because in fact it turns out it is?
Are we supposed to pass laws that fix the price of a home based on the square footage?
(I wonder if jewelers complain that the reason silver is so expensive is that people treat it as an investment.)