Affordability is a huge problem for sure. We moved into higher end homes and the buyers have money. I would not want to be working in the entry-level segment because it would be incredibly challenging. Wages have to go up significantly for people to be able to afford homes again. At least that’s the case in DFW.
That won't work unfortunately. If wages were to increase to meet inflation, inflation would simply increase, and we would be right back to where we started. Companies won't pay higher wages and not pass the cost on to the consumer. The truth is that companies charge what the consumer is WILLING to pay. So as long as people are buying the houses that are being built, home builders/construction suppliers will keep charging those prices. When consumers stop buying at these crazy inflated prices, the market will turn. Home builders will feel it first and start going out of business, and then the suppliers, and then the manufacturers. The only way this stops is when the market crashes.
