Some economists also have grim warnings for the future of housing in the United States. According to Sal Guatieri, the levels of housing affordability will most likely fall drastically over the next 12 months; this means that more and more Americans will find home ownership to be significantly challenging.
A solution to the housing market crisis?
Many Americans feel very displeased with the current state of the housing market; as such, there are some people suggesting that the real solution lies in the hands of the people.
Americans with this outlook believe that folks should stop paying the current drastically high prices for homes. Others maintain that states are deliberately increasing housing prices in order to charge more property taxes.
Time will tell whether the solution is as simple as Americans refusing to pay the current prices. Another possibility is that more and more folks may choose renting over buying.
The housing market is not the only area in which costs of living are increasing. Therefore, more and more Americans may have to re-assess their options and what they’re willing to pay for.
