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this post was submitted on 09 Aug 2023
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Exactly. More offers competing for vendors means price will rise to attract vendors, either to win over existing vendors who will otherwise build a house for the next guy instead, or to compel new vendors into the marketplace who find the current rate not sufficient enough to bother with the industry. The going rate today is not enough to see more housing construction than what is already happening. Again, anyone who works on building houses today is booked up for years to come. Price has to rise to see something change.
At every point we mentioned raising the price of housing as it is fundamentally baked into the discussion. I don't know, maybe you just forgot to read the discussion taking place?