Labour costs follow housing costs. Material costs have dropped since 2022 (see raw lumber) especially with 🇺🇸 tariffs on our raw materials (cheaper for 🇨🇦)
But high housing keeps labour high. High labour means construction costs high. High construction cost means you should pay more for the condo? No. Market determines the price of the condo - ultimately.
The price follows, and labour starts to drop as well.
Right? Someone making $60,000/year (average salary) should be buying a place for $240,000 (4X annual earnings; 25-year mortgage) not $500,000 (over 8X earnings; 35 year mortgage) and certainly not $1M (infinite mortgage)
Problem is government is run by realtors and real estate investors currently.
"I don’t want to be writing tickets for five over. I think that’s BS. You write someone for five over, you’re kind of a jerk" - Deputy Frank Sloup
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Fridays with Frank 121, CyberTruck
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"Traveling 55 mph in a 50 mph zone"
Thoughts?
@CGInvesting10 $1000/share SpaceX will have spherical data centres nearly completed. Can't wait to all the processed data beamed back to the surface of the planet.
@mvbenter@Tablesalt13 Tesla Shanghai will fulfill the entire quota, so this ends up a win for America First. (Global free trade usually does reward America.)