I was just reading Christopher Alexander’s article on stress testing potential home buyers out of the market and it is putting stress on sellers also. He is right. The government has to find ways to give incentives to help first-time buyers.
If this country would start a universal basic income there wouldn’t be the need for everyone to crowd into our two or three high-priced cities where all the jobs are and be enabled to move to lower cost rural areas as well.
Sadly, it’s mostly offshore money that is buying the properties here.