After five
years of rising house prices, more homeowners are unlocking some of that value to put toward renovations or to consolidate high - cost debt.
People still had the idea that just like their parents got rich
off of rising housing prices and were able to put them through school and give they a better life, now they're getting richer.
While affluent knowledge, professional and creative workers have been squeezed, it is lower - paid blue - collar and service workers who bear the
brunt of rising housing prices.
Taking on debt to buy a house was a wonderful strategy until overall debt levels to finance housing got to high, but at that time, the momentum
effect of rising house prices was sucking people into buying houses, because they thought it was easy money.
Armstrong, who has been part of a local movement promoting the building of more tiny homes as an affordable housing alternative, says on Austin - American Statesman that the flexibility that tiny homes offer was one reason she built one for herself, in the
midst of rising housing prices in Austin: