this post was submitted on 27 Dec 2024
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This is the natural result of decades of sustained exponential growth. At roughly 10%/yr, markets will double every 7-8 years. That's three doubling times in about 25 years, or 2^3 which is 8x. And that's how you get a house that was like $100k-$200k in the year 2000 to turn into a house for like $800k-$1.2m in 2024. It's only going to get worse.