/biz/ - Business & Finance

>>58267724
What you non-real estate types don’t understand is that in investment properties (I.e. what effects prices the most) the property is only worth what it can bring in with rent. A 500k property, paid off/without a mortgage/loan, and 2.3% property tax (lower than average) would need a monthly rent of $2388. Average in the interest on a loan and you can see how people don’t make enough to be able to pay it off and you have what is known as a bubble. Unless you see median wages increasing to 100k, with this level of immigration meant to lower/slow wage growth, then theoretically it could go up indefinitely. But that isn’t the reality