Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try [email protected]
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either [email protected] or [email protected].
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email [email protected]. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
I mean we are seeing the results right now of decades of exponential growth. Take a house that costs $100,000 and increase prices from 3-10% per year every year for ten twenty forty years whatever and boom, same house now costs a million bucks. It's not surprising to me at all. Idk how to fix it but it's not surprising.
Decades? 2008 was only 15 years ago...
? Housing is an asset class like any other and grows over time. What has 2008 got to do with anything? A quick google search shows historic growth rates around 5% a year.
YoY growth data is updated quarterly, available from Mar 1992 to Dec 2022, with an average growth rate of 5.4%
That's a double time of about 12-13 years so roughly 3 doubling since 1992. That's an 8x multiplier so yeah, that's how a $100k house turns into an $800k house without a housing bubble to inflate prices even more. Just normal market forces.
That what were you saying about 2008 and why did you downvote me for it? Lol