I’m actually cheering for the investment buyers. A fall in homeowners as a percentage of voters is the only way out of the mess that’s been created. With a supermajority of voters owning homes of course we see a higher is always better dynamic among politicians.
I'm sure this will happen eventually as the Boomers retire and die off.
I suspect people who actually live in homes aren't as attached to rising house prices as politicians think. Personally I'd happily buy a house for $500,000 and drop the price to near-zero if it meant I didn't have to pay $10,000 a year in property taxes. At some point it's not about "building equity," it's about having a place to live that you control, where the rent won't skyrocket 20% per year, where you can raise a family or own a dog or install a patio or whatever.
