Sources: Autoblog, Wisconsin Ag Connection
quote: I already own a house. If my house is worth $300k and I sell it tomorrow and get $300k for it, I can buy a similar house for a similar price. If we tore down a bunch of old houses to reduce supply and it raised the value of my house to $600k, it doesn't really hurt me since I can sell my house for $600k and then buy a similar house for $600k.However it hurts those who are looking to buy their first house. If they're having trouble securing a loan to buy a $300k house, how in the world will they afford a $600k house?
quote: People are being brainwashed into thinking that owning a home is such a great investment that they should risk their entire financial future trying to get one.
quote: If a family cant afford a $300k then maybe they should look at $200k homes, hell you can get a pretty decent house for around $150k in my area. And if after all that they still cant get a house then... just wait longer?