>>14888337There is absolutely another factor involved in the insane housing prices. It's a government backed loans program, some more new-deal garbage that distorts the market and drives up prices. Bank makes 30 year fixed interest rate loans with historically low interest rates like 3% or 4%, but the catch is the bank only has to hold it like a year or two for it to become a "performing loan" and then sell it to the government making their profit as well as regaining the money to lend out yet again.
Similar distortions in the market occur everywhere government attempts to subsidize something, for instance, health-care and college. Did greedy landlords buy up all the seats in a university course and health-care services too? Fuck no! Government loans and welfare programs did that.
