Ya I know right. But the thing is, they never write articles like this. Usually, for several years, they’ve been celebrating the increase in house prices.
The article focuses mainly on the renters. But increasing prices are also bad for most owners.
It gets harder to become an owner in the first place.
And if you already are, price increase of the house you live in is just a book value, while some running costs like insurance rates scale with this value.
It is a loose-loose scenario except for the very wealthy that use houses as speculative investments.
Also people tend to move from lower cost to higher cost houses over the years. If house prices go up a lot, the price gap between the houses is larger.
Basically the only people benefiting from house prices rising are those downsizing.
Ya I know right. But the thing is, they never write articles like this. Usually, for several years, they’ve been celebrating the increase in house prices.
The article focuses mainly on the renters. But increasing prices are also bad for most owners.
It gets harder to become an owner in the first place.
And if you already are, price increase of the house you live in is just a book value, while some running costs like insurance rates scale with this value.
It is a loose-loose scenario except for the very wealthy that use houses as speculative investments.
Also people tend to move from lower cost to higher cost houses over the years. If house prices go up a lot, the price gap between the houses is larger.
Basically the only people benefiting from house prices rising are those downsizing.