Ah, but what about the very small percentage of the American population who happen not to be upper middle class. Easy to forget them I knowhttps://twitter.com/asymmetricinfo/status/1468343020793876481 …
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In part I think having more compact units is a step in the right direction, both in affordability and in energy efficiency. But also just building more houses. But the housing market is a market, so the market leaders will control the prices and good luck getting that fixed.
So, the builders and lenders I've known (my father was in mortgage banking, so this is a non-zero number), they want to build and lend, like, a lot. Because they don't hold the units as assets, jacking up the prices doesn't do anything for them that they couldn't make up for...
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...by building a ton more houses and selling them. The problem, at least everywhere I've lived, is zoning and local regs, some of which are good but a lot of which exist to protect the landvalues of homeowners at the expense of home buyers.
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There are some roads you can drive down in VA, where I grew up, and you can see the impact as you cross a town or county line: on one side, tons of new construction and on the other, near total stasis. Same builders, same local demand, same housing market. Different zoning.
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