I think you might be out of touch with the Utah housing market. 1800 ft2 on the Wasatch Front now runs about 400K. But your point is valid. We are getting CA refugees especially around Orem, "The Silicon Slopes" and strong job growth here.Dead species walking. About sums it up.
A lot in this article plays to discussions I have had over the years regarding finite resources, and things like the housing market. It was funny when I bought my first house, how people talked about it like a big investment that can only go up in value over time. I thought long and hard about that because something tells you that it cannot reach infinite value, so there has to be a cap somewhere, right? In fact the first house I bought cost us $106k (1.8k sq ft older home on the bench in North Ogden), and recently it sold again for $200k, and that was outrageous, but not increasing as so many had stated, to nearly infinite levels. And $200k is arguably not that far off in value from $106k considering the state of the economy when we bought it vs now. Same with everything else for us as humans, there are caps. We can get better at things like farming and energy production, but even now we have reached the point of diminishing returns in lots of areas, we are increasing at a decreasing rate, the reverse hockey stick. I think this guy's view is fairly pragmatic. And the decreasing population growth rates make a lot of sense. We are living in the most prosperous age humans have ever known, with unprecedented duration of peace, generally speaking. And medical care across the globe is the best it has ever been. So it make sense there is a decreased urge to procreate when there is not a huge risk of losing the child in infancy, and there is so much to engage us in a prosperous society. Interesting piece for sure.
But besides the artificial limits on real estate in the West due to the gov ownership of so much, there is little reason to believe housing pricing can be infinite when pay scates are being depressed by bad politicians with taxing wet dreams.
Our housing market is inflated by low interest rates, but nobody is going to make pay keep up with this or any other kind of inflation. That's what open borders does for our big corporations. You go to college, get into debt to do that, and they hire from India. people who will live ten persons in an apartment and work for peanuts programming the vast IT wonderball.
:Homes will never be worth more than people can pay, in large numbers.