Earlier quoted context omitted.
That's what I don't understand, if population growth is stagnant or declining, how is it these housing prices are reaching such heights?
> That's what I don't understand, if population growth is stagnant or declining, how is it these housing prices are reaching such heights? Housing prices around me are directly correlated to school quality. The same house near a good school is literally 1.5x-2x the price. The supply of good public schools is very limited. A good private school is ~20-30k a year. Figure that is worth 300k, not even counting that that…
Because "school quality" is basically indistinguishable from "socio-economic status". It has little to do with the quality of buildings or teachers or other resources. It's mostly about the ability and willingness of parents to be involved in their kid's life and the standards they hold.