@Daniel Not just in the US. Canada has a similar housing crisis. I bought our house in 2011 for $150,000. The (conservative) estimated value today is $450,000. Nothing about our neighbourhood has changed. No new services or anything that would have increased the property value.
My kid and his girlfriend pay $2400 a month to rent a small two bedroom apartment in a nearby small city/large town. That’s almost twice my mortgage payment, yet even if they could save up enough for a down payment (while also paying that ridiculous amount in rent), they would never be approved for a mortgage because paying rent does nothing for your credit score.
