Congrats guys. No new housing is gonna get built until after the next recession.https://twitter.com/SocketSite/status/1004511892461613056 …
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I know quite a few older ppl who are SF sfh owners. A new city is scary at that age. Don’t downsize their empty nest bc of emotional attachment. And don’t want new construction bc “it changes the culture of the neighborhood” even though they don’t know many of their neighbors.
Home price is not a factor because they would never sell. You literally could not pay them $1mm to live somewhere else. They also don’t want anything to change around them so it’s essentially a brinksmanship bet: we’ll get worn out and move before they die.
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