The silver lining for this cloud is that many who were priced out of the market for years are now going to be able to enjoy what many before them were able to do and that is to buy an affordable home. Then, using the established rules of paying debt and making a living, the current and future generations will have something...
BUY AND KEEP STRATEGY
Assuming that the buyers of today don't follow the statistics of selling moving, and then buying every 4 years or so. The concept of buying and holding the home until paid works like a charm and I hope comes back as the normal way to proceed here. Then, after 15-20 years, the buyers of today will own their homes.
GOAL IS TO OWN IT
To be able to live rent or mortgage free is worth working for. A huge chunk of you income can now go toward something else instead of exclusively to shelter.
Rolling back prices to when things made sense is the way to go. If not, we exclude current and future generations and how does that help anyone? if people cannot afford to buy something, then it wont sell. all involved suffer because of it.
BUYERS...START YOUR ENGINES
So buyers...first step for you is to contact a Real Estate agent and establish a working rapport. Then, this buying team will enter into the process of finding the home product of your choice.
PUT LEGS ON THOSE DREAMS
Don't day dream about the American dream....live it instead