Politicians love to scream about housing being simply unaffordable. Like mayor-elected Mandami in New York City. But the reality is that housing prices vary by city and there are more affordable cities than New York City to choose from. Federal policies should not be focused on letting people staying a particular city.
When we look at housing prices compared to average hourly earnings, we see housing prices rising with average hourly earnings … as expected.
If we look at year-over-year changes, we see the Covid bump in housing prices corresponding with the surge in Federal spending. But things have simmered down since the bump in 2020-2023.
My suggestion is for the Federal government to stop interfering in the housing market.
