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[mikazo]

I went to a sporting goods store to look at some hiking apparel, shoes in particular. As expected, the mens' shoes were too wide, and the womens' just about right, but they didn't have my size. "We don't have an 11 women's, but we have a 10.5. We don't have a 10.5 men's, but we have a 10." When those predictably didn't fit, they encouraged me to

Comments

[hastka]

What I don't get is, after WWII there was a huge economic boom. Right now we're in a massive economic crisis. Unemployment is fairly high. So how can housing inventory be low, at least in areas that are already semi-expensive?

[mikazo]

I think it's a crisis for some people and not others, due to a K-shaped recovery. That and a perfect storm of other factors - the increasing normalization of remote work and the desire of people to leave big cities and move to other areas.

[hastka]

What is a K-shaped recovery?

I don't think remote work is really "normalized" for most people, so far. Even in techie companies, it seems like it's only barely an option, and many of the places where it's an option are uncertain yet how long that will be taking place. But either way, I don't think remote work explains why established population centers - let alone "nice places" that are off the beaten path - would all be seeing astronomical price hikes.

I guess arguably "everyone who wanted to move is now more comfortable snooping in other people's houses" perhaps, with the relaxation of covid restrictions... but like, as with all things in economics, all you need to do if you want prices to come down is stop paying high prices... >.>

[mikazo]

Here is an article that goes into the specifics of K-shaped recoveries. It is usually used in this context to describe how some people do very well in an economic recovery, potentially even coming out ahead, while other people fall behind.

I guess arguably "everyone who wanted to move is now more comfortable snooping in other people's houses" perhaps, with the relaxation of covid restrictions... but like, as with all things in economics, all you need to do if you want prices to come down is stop paying high prices... >.>

Makes sense, except I think the pandemic has made people less rational. :P Where I live, we have people paying thousands over the asking price of a house and forgoing home inspections. The area I live in has nice aspects, but I can't find anything about it that warrants that level of demand.