Local control over zoning is a massive problem. Most people agree that building more homes would bring housing prices down. However, most cities have more than half of the land exclusively reserved for single family homes and have rules that prevent any creativity or density. They want other places to add the housing. I can't see the problems going away unless entire states reform zoning.
Akron, Ohio is up 7%. So is Cleveland, Madison, and Toledo. Cincinnati, Milwaukee, and Scranton are up even higher. [1] These are figures from before the pandemic.
The idea that the rust belt has lots of cheap housing is outdated. That was true in five to ten years ago. It is not true today. You can expect to pay around $200k for a house in any given rust belt city with decent jobs -- and quite a bit more if you want to live in a nicer neighborhood or a nicer home.
And can you get the same services, community (people of similar circumstances/values as you moving there), opportunities, schools, safety that these in demand areas provide? Travelling around only reinforces my desire to buy in an in demand area. I cant just shop at panera, five guys, and walmart for the rest of my life.
