I guess you are unaware of all the money people pour into their homes - renovati... | Hacker News

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		acchow on May 6, 2022 \| parent \| context \| favorite \| on: Homes in 97% of U.S. cities are overvalued, Moody'... I guess you are unaware of all the money people pour into their homes - renovations, furniture, upkeep, maintenance. People spend all kinds of money on nice things, but nothing comes close to the home itself. There will always be a market for this.

turtledove on May 6, 2022 [–]

My home is currently valued at 1.7m. I'm acutely aware of the cost of owning and maintaining a home.

But "homes have costs" does not axiomatically lead to "housing must therefore be a market."

acchow on May 6, 2022 | [–]

No, but people want nice homes and are willing to spend a ton for it.

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