from Hacker News

The US housing shortage is likely to worsen, experts predict

by aruanavekar on 10/26/22, 4:52 PM with 9 comments

• by rogerkirkness on 10/26/22, 5:11 PM

  Interesting world where the experts would not immediately go to Home Depot and pick up a nail gun. It does feel a bit like that sci fi book I am blanking on the name of where the whole world is just academics writing about the decline of productivity instead of, you know, being productive.

• by Jeema101 on 10/26/22, 7:33 PM

  The Case-Shiller home price index seems to indicate otherwise recently:

  https://www.spglobal.com/spdji/en/indices/indicators/sp-core...

  If the bottom of the housing market experiences a drop in sales, then the result would be that the median price would indeed appear to continue increasing for some time unless you are matching past sales to present sales using comparable houses. Maybe that is what's happening here?

• by adamredwoods on 10/26/22, 6:03 PM

  This hurts:

  >> Also, the median sales price for homes in the U.S. was $384,800 in September, an 8.4% spike from the $355,100 price tag in September 2021 as prices climbed in all regions, the association reported.

  >> Assuming a 10% down payment, the monthly mortgage is $1,000 higher than a year ago, Evangelou said.

  Low inventory, and even lower seeing how construction is not keeping up with demand, is keeping housing prices up. For someone like myself who owns but wants to move to a bigger house, I cannot because the interest rates are so high. This locks up the market even more.