Typically, when demand drops, prices follow. But even when the number of buyers dropped, prices kept climbing. The median price of a single-family home hit record highs in 2024, and has only continued going up. In May, the median price was $427,800 – up from $357,100 in 2021, when home prices started to climb.
At today’s prices, a family would need to earn $126,700 a year to afford monthly payments on an average home purchased in 2024, up from $79,300 annually in 2021, according to a report from the Harvard Joint Center for Housing Studies.
Economists say a historically low inventory of existing homes, coupled with sluggish new construction, is keeping prices high.
All over my are there are shit tons of new 
starting at $350-400k
There isn’t a damned shortage. There is a shortage of affordable homes. Who is afording these is beyond me because the jobs in the area don’t pay nearly enough and there can’t be that many upper management / C-suite families that can afford them. I am seeing banks offering Zero down / no PMI like in 2008. Like they are baking another housing crash.
Thanks
Wow that sounds pretty awful considering the normally awful standard of homebuilding in US.
Same as the intent for Krushchevka in socialist countries, but Khrushchevka stand strong till today (there’s even one in Germany that survived direct jet fighter crash and people still live there) and the prices often outstrips the modern private development houses which quite often starts to crack even before anyone actually moves in.
Overall conclusion for “mobile homes”: how fucking dare muricans joke about houses build from prefabs while they have this shit.
Yeah, modern home building quality in the US is also shit. I watched one go up few months ago near where I work, and you could see that it was basically 100% press board. I’m sure it sold for $550,000.