My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable
Right but OP is talking about a house in Waleska, Georgia, which has a population of 921 (as of 2020 census). Not really on the same level as Toronto or Vancouver!
People from big city retire, sell their house now worth a fortune and move out of the city and can afford to pay whatever people want for their house, this inflates the price of housing in rural areas and people born there can’t afford to live there anymore.
Hi, Georgian here. Trust me, nobody wants to live in the ass-end of Cherokee County, so far north it’s only barely in Metro Atlanta, but not far enough north to have decent mountain scenery or anything. Frankly, I’m appalled at how overpriced it was at $200K four years ago, let alone now.
People move out of cities just to have a bigger lot around their house. Hell over here arable land is getting scarce because people buy any agricultural lot that has a house on it just so they have space, doesn’t matter that it’s in the middle of nowhere with nothing to do and doing the grocery means an hour of traveling, they have the time to take their car and travel but they certainly don’t want to exploit the land they just bought!