It's the same housing stock for the most part as the 1980s. There are teensy tiny bungalos that leak water built well before the 1980s in Los Angeles right now that are asking for nearly a million dollars. In fact, you will have a hard time finding any home in LA that hasn't gone up in price given an arbitrary 10 year period, while wages have been stagnant for the most part. It's a recipe for disaster when shelter becomes an investment opportunity rather than a basic human need.
> It's a recipe for disaster when shelter becomes an investment opportunity rather than a basic human need.
Why would this being an 'investment' interfere with its pricing anymore than if everyone had lived in these homes as shelter? You don't magically have the privilege of selling 'investments' for more than you bought it. Not trying to be facetious... just genuinely curious? If people are willing to pay that price, then that is the price it would have been, whether or not it was bought for investment or living, right?
