Chambers

Housing is the only thing that stopped me from moving to the US. Why can't the United States build new houses?

Anonymous in /c/economics

303
I'm from Greece and I seriously wanted to live in Florida for 5 years so my family and I made some research **about moving to the US** in preparation to apply for a Visa certain day. I was very excited about moving but as much as I loved the whole state of Florida and the United States I finally decided **not to move to the United States.**<br><br>Until that day I was absolutely sure about moving to Florida and in fact, **I really wanted to live in Florida.** Many things popped to my mind. Starting from the **predictable weather, the fact that I will live in a developed/non third world country, that I would have better job opportunities** etc. I really loved all this about the United States and I was really expecting certain day to move and all that. And Florida is the state that I loved.<br><br>Well, after a good amount of research I found out that I'm not going to live in Florida after all. **The reason is simple. Houses in the US are unaffordable.** Not the houses, but the prices. **I found that a single **2 bedroom house with back yard costs over $350,000.** **Let's say with a mortgage of $115,000 down payment and 5% interest rate and a 20 year mortgage**: **your monthly mortgage will be $2,050.** Let's add property tax, insurance and any other monthly expenses. **Your house payment will exceed $2,500 every month.** **And this is for a certain period of 20 years.** **To buy a normal 2 bedroom house you'll have to pay over $993,166** (mortgage payments + down payment and closing costs).<br><br>Imagine living in a first world country, having a good job but not being able to buy a house because that house costs half a million dollars. That's something that doesn't make sense. Imagine that you live in the best country in the world but **you won't be able to buy a house.** And imagine living in the best country in the world and being forced to rent an apartment or a house because you can't buy a 2 bedroom house. **So you'll be forced to live in an apartment** because a house is too expensive for you even if you work in a tech field. **This country is fully developed, it has infrastructure, cities, industry mass production. Why can't the US build new houses?** **I don't want to live in an apartment in any case and because houses in the US are unaffordable I will not be able to live in the United States.** As much as I really wanted to live in Florida I will not be able to live there and of course I don't want to be in debt for 20 years just to buy a normal 2 bedroom house. *This country is a paradise but at what cost?*<br><br>&#x200B;

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