Americans being priced out of housing market, study finds

Millions of Americans are being priced out of home ownership, according to a new study by the Harvard Joint Center for Housing Studies. Chris Herbert, managing editor with the center, joins CBS News with more details on the research.

#home #sale #price

[Aarrenrhonda]

In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200, 000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?

[tpop]

What you expect when corporations and investors now own around 30% of all homes.

[kortni_animations]

Tax the poor. Give breaks to the rich. Enforce strictor zoning. Hike inflation. Dont build affordable homes. Im amazed we have this problem.

[skylarcowley]

In other news, grass is green. Water is wet

[adanr]

We are being priced out by large corporations that are buying houses.

[Me]

Really? We needed another “study” to come to this conclusion? How about fewer studies…and more solutions.

[ryanwalters]

Thanks for the international corporations that can still afford to buy with cash.

[alexsteven.m]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[Network]

I lost my housing twice during the pandemic, and then couldn't afford the skyrocketing rents anymore, so I ended up buying an old Toyota Sienna minivan to live in.

[buzzard]

There are numerous studies that show there are 14 MILLION homes vacant due to institutional investors as well as speculators asking too much for rent or selling price. We don't need to create more multi-family housing or drastically change zoning laws because those new homes will end up being vacant due to the same institutional investors asking too much for rent. Leave our neighborhoods alone.

[AllisonSherman]

"Sometimes, it's not about having a talent, skill, or passion. But what if I told you that with the right investment, you can still achieve your goals? No talent, no skill, no passion, but good investment can bring you financial freedom. Don't underestimate the power of smart financial

[AndrewTran-bleh]

@1:52 laughed out loud when hearing the guy said homes have higher quality now than in the past

[RomaSF]

Who else thinks that the only fix for housing prices is to prohibit “Blackrocks” from buying single family houses?

[freeheeler]

1. End foreign ownership of all homes and land in the US.
2. End corporate ownership of homes.
3. Try to fix the insurance industry.
4. Build smaller homes.
5. Build more land efficient, dense, row homes and condos near downtowns.

Our path to home ownership was a bit brutal. We bought and lived in and fixed up really distressed homes. And we did the remodeling while working full time jobs. We weren’t flippers as we lived in the homes for years. But each time, we came away with significant equity. We worked a lot of 70 hour weeks. Buy actual books on carpentry, cabinetry, plumbing, electric. YouTube helps. Some pro’s actually respect do it yourselfers, and will help you plan your wiring project if you respect them in turn and pay them well for their expertise!

[socialconservative]

You needed a study to come to this conclusion?

[christinet]

We live in a plutocracy... there, I answered it for you. It has nothing to do with the pandemic. Housing prices have been ridiculous for the past 40 years.

[NewYork]

Now buying a house turned American dream to American nightmare.

[tabbykat]

I'm hearing so many people my age (30-40s) who have been in the workforce for awhile but still have to rent unless we're with a partner and have dual income and even then its not a guarantee. A lot of people have basically become resigned to the fact that we're unlikely to every be able to own a home. We'll be renting until we're dead.

[bonniebob]

It’s amazing these news stations don’t discuss the fact Wall Street now owns 25%+ of all real estate. Not the only reason for housing prices to skyrocket but a main factor.

[newtec-kdvy]

No one looks at Havard as experts anymore.