norrislakevol
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- May 25, 2007
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The dream of home ownership (1st time home buyers) will decrease and it will be unaffordable for the "average" American or it will take a higher % of your income. They will resort more to apartments and condos consuming less space and building upward in the cities and the suburbs.
15 to 20 years ago the same starter home you could get for $125 - $130k is probably $250k today in the Nashville area.
I will add that a chunk of the homes being sold are sold to investment companies that turn them into rentals or Air BNB's. Another big blow to home ownership.