Do We Want Housing Prices To Be Low, Or High?

Does it seem like the same people who were wringing their hands over low housing prices a few short years ago are the same people lamenting the alleged dearth of “affordable” housing now?

The housing crash and downward-spiraling prices of a few years ago were great for “affordable” housing. But a large number of people and politicians were determined to jack housing prices back up as quickly as possible.

Headlines like the one below are quite common. And a quick Google search for “lack of affordable housing” turned up over 5.8 million hits this morning.

Affordable housing in the suburbs hard to come by – Democrat and Chronicle: There also have been federal cutbacks that have made funding new affordable housing development more difficult at the state and county level. “In the suburbs, I think it’s really, really difficult to find affordable housing,” said Susan Boss, executive director of Rochester’s The Housing Council. “There’s more households of modest means than we have housing for.”

  • DWMF

    Agreed. I’ve been yelling about this for years. As someone who doesn’t own a home, but would someday like to, falling home prices are great news for me. It amazes me that the lefties haven’t picked up on this. They supposedly hate the rich and all that, but it’s the rich who are likely to own property and want to see the value rise. The poor are likely to want property, and therefore celebrate when values fall.

  • marfdrat

    Come on – that’s easy. There needs to be a government commission that subsidizes the price of your house when you sell it, so that you can get a high price, but the price to the buyer will be low. And your taxes, and mine, will pay for the subsidy. If there’s not enough to pay all the subsidies, they’ll just mint another trillion-dollar coin.