The median US home price was $219,000 at the start of the 2010s, $165,300 at the start of the 2000s, and just $124,800 at the start of the 1990s.
  • US home prices have soared 47% so far this decade.
  • The price surge has outpaced the gains seen in the 1990s and 2010s, and is nearly ahead of the 2000s.
  • The rising value of homes has coincided with a millennial-fueled demand surge and years of low mortgage rates.

US home prices have soared 47.1% so far this decade, according to a ResiClub analysis of the Case-Shiller National Home Price Index.

The massive price gains seen in the first four years of the 2020s have eclipsed all of the growth seen in the 1990s and 2010s, according to the analysis. Housing prices in those two decades grew 30.1% and 44.7%, respectively.

On top of that, housing price growth in the 2020s is on the verge of eclipsing all of the growth seen in the 2000s, which was 47.3% after peaking at just over 80% before the 2007 housing market crash.

  • NeatoEnglish
    72•1 month ago

    This might sound good for people who own their home already but all it does is lock them in. You can’t move, trade up/down if no one else can afford to buy.

    And when prices are inflated they tend to reach a price cap. This means the variance between a small and large house shrinks. This means selling a big house to buy a smaller one nets you very little profit which encourages people not to sell. Which decreases the market of affordable homes.

    But corporations with the goal of owning all property to rent seek don’t care. They’ll overpay to hold houses a while until they can corner the rent market and charge through the nose.

    • @GoofSchmoofer@lemmy.world
      16•1 month ago

      It’s these deep pocket corporations that I think will keep a major housing bubble burst from happening or when it happens it will be fast.

      They can buy x number of houses now at these inflated prices, they can but 10x X number of houses with a major downturn in home values. Then with all this buying of homes the prices shoot back up… At least that is how my high school level economics knowledge brain sees it.

    • bluGill
      1•1 month ago

      They’ll overpay to hold houses a while until they can corner the rent market and charge through the nose.

      Only if this is possible. If zoning allows someone will just build a new place to make up for their empty one. And of course there is nothing about being a landlord that gives it a natural monopoly so competition is likely to own some of those places and rent it out thus limiting what rent they can charge