Buyers supplying plenty of demand

Somewhat like the comment “That place is so crowded no one goes there anymore” is the often-repeated phrase “Houses are so expensive no one can afford to buy.” That’s not correct. It is demand for houses that makes prices rise. Houses are so expensive because people can afford to pay an ever-higher price for a home.

When a buyer stops paying the ever-increasing price, the seller will accept a lower price. If buyers had resisted when the median price was $100,000, the median price of $300,000 or $500,000 would never have been reached.

Jim Humberd

Burbank