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The Real Reason Housing Is So Expensive – Second Thought
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Citations and Further Reading:
The financialization of housing
https://books.google.com/books?id=AAQRDAAAQBAJ&newbks=1&newbks_redir=0&printsec=frontcover
https://doi.org/10.1080/14036096.2014.947082
https://doi.org/10.1111/j.1468-2427.2009.00874.x
https://doi.org/10.1177/00323292231201480
https://www.tandfonline.com/doi/full/10.1080/19491247.2023.2170542
https://doi.org/10.1080/14036096.2020.1846610
https://doi.org/10.2307/j.ctv175nt.13
https://www.jstor.org/stable/26151125
https://doi.org/10.1080/14036096.2014.947080

https://doi.org/10.1080/02673031003711550

2023 least affordable year to buy a home, home prices over the last 20 years, avg. home price
https://www.cnbc.com/2023/12/07/2023-was-the-least-affordable-homebuying-year-redfin.html
https://www.nytimes.com/2024/06/02/realestate/housing-market-rates-prices-slow.html
https://www.cnbc.com/2024/03/19/why-home-prices-have-risen-faster-than-inflation-since-the-1960s.html

Record number of people paying more than 30% on rent
https://www.nytimes.com/2023/12/11/us/politics/rent-burdens-low-income-life.html

Avg. home price 1964
https://fred.stlouisfed.org/series/MSPUS

Avg. income 1964
https://www.census.gov/library/publications/1965/demo/p60-047.html

“More than half of all renters are paying more than the recommended 30% on housing and over a quarter are paying more than 50%.”
https://www.npr.org/2024/01/25/1225957874/housing-unaffordable-for-record-half-all-u-s-renters-study-finds

Minimum wage workers can’t afford simple 1-bed
https://www.cnbc.com/2021/07/14/full-time-minimum-wage-workers-cant-afford-rent-anywhere-in-the-us.html

Home prices have nothing to do with housing supply and demand, it’s about the supply of finance
https://www.taylorfrancis.com/chapters/edit/10.4324/9781315668666-8/conclusion-manuel-aalbers
https://www.taylorfrancis.com/chapters/edit/10.4324/9781315668666-6/mortgage-lending-house-price-developments-germany-italy-spain-netherlands-us-manuel-aalbers?context=ubx&refId=046f087c-b6be-48cf-994c-3d3fd7554344

2022 rent inflation and Jay Parsons quote
https://www.nytimes.com/2022/09/27/business/economy/landlords-rent-inflation.html

Millenial/Gen Z wages aren’t rising
https://doi.org/10.1080/14036096.2020.1846610

Realpage, tactics and statistics
https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
https://www.propublica.org/article/why-rent-is-so-high

Realpage CEO quote
https://www.multifamilyexecutive.com/technology/in-the-back-office-revenue-management-software-is-causing-a-revolution_o

“In the first quarter of 2022, nearly a third of all single-family homes sold in the US were bought by private investors”
https://www.huduser.gov/portal/periodicals/em/winter23/highlight1.html

Private equity buyup of mobile homes

New tool tracks private equity ownership of manufactured housing communities across U.S.

US wealth in real estate + Robert Schiller quote
https://www.barrons.com/articles/net-wealth-is-over-135-trillion-where-that-money-resides-d722c9c6
https://books.google.com/books?id=pm1aDwAAQBAJ&printsec=frontcover

1980s government creation of mortgage-backed securities market
https://doi.org/10.1111/j.1468-2427.2009.00874.x

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