this post was submitted on 22 Nov 2024
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Prices still aren't affordable despite this % decline.
I agree. But things can get out-of-control unaffordable from year to year when you own a home and the expenses along with it.
If you think that's unaffordable, you should try renting which is always more expensive than owning.
Historically, that is not always true and very market dependent.
Historically when there were work houses and inns that cost under a days pay, sure. But anytime after the 19th century it's been true. Anywhere in the US in Canada for the last 150 years it's been true. Any SFH it's been true, including historically.
Landlords don't rent out of the kindness of their cold, dead, grease filled hearts, they rent to make a profit. Meaning it is always cheaper to own than rent because that profit is built into the rent.