Why Is Housing So Expensive?

From Kite & Key Media: Ever look at real estate listings and think, “What the hell?”

The lack of affordable housing in many parts of the United States has reached a crisis point.

In some areas, even the most unlivable homes are out of reach.

This property in San Jose, California had literally been set on fire before being listed at $800,000. Which, of course, is crazy. No one would pay that much for this burned-out shell of a house. And they didn’t...it sold for over $900,000.ⁱ

Now, the Bay Area is far and away the country’s most expensive housing market.

But this is a problem in many American cities.