Americans who moved across state lines in 2021 ended up in urban areas whose median home costs were almost $36,000, or 7.4 percent, less than the urban areas they moved from, according to Zillow. This follows a trend that began in 2020, when interstate movers ended up in areas with $29,500 lower median prices.
Prior to 2020, affordability seemed to be less important an issue. In 2018, the median prices of destination urban areas were only 0.1 percent less than origin areas, and in none of the four years before 2020 were they more than 2.0 percent.
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This will put pressure on less-affordable regions to make themselves more affordable. Of course, most of what they have been doing to address affordability–inclusionary zoning, increased subsidies to affordable housing, densification of single-family neighborhoods–won’t work. The question is how long it will take for the leaders of those expensive urban areas to realize that.
“Of course, most of what they have been doing to address affordability–inclusionary zoning, increased subsidies to affordable housing, densification of single-family neighborhoods–won’t work. The question is how long it will take for the leaders of those expensive urban areas to realize that.”
How long – DECADES, because these people KNOW their theories are just and right. They will just try harder until we throw the bums out.
Government subsidizes whatever they perceive to be good, taxes what they perceive to be evil