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What Happened to Housing?

It’s unaffordable. According to a 2023 chart, housing affordability hit the lowest level in almost 30 years.

Since then, the number of buyers has slowly declined, while the number of sellers has continued to increase. The gap has widened.

According to The Title Report, and data from Redfin,

“There are an estimated 1.9 million home sellers in the housing market and an estimated 1.5 million homebuyers, or 33.7 percent more sellers than buyers, according to a new report from Redfin. There are . At no other point in records dating back to 2013 have sellers outnumbered buyers by this large of a number or percentage. A year ago, sellers outnumbered buyers by 6.5 percent, and two years ago, buyers outnumbered sellers.”

Overall, the number of buyers has been trending down since 2016—or more likely since around 2012, just after the Great Financial Crisis slid into quantitative easing and easy money became even easier. This drove home prices up, but now something has changed. The downward trend of homebuyers eased, along with the number of sellers. So the actual ratio of buyers to sellers was shrinking—until recently. In 2024, the trend broke wide open.

Here are the reasons most analysts will give you:

• It’s expensive to buy a home.

• Economic uncertainty.

• Locked-in mortgage rates are easing (Homeowners need to sell because they can’t afford homes at the current rates.)

But they’re missing the point. Debt used to be something people paid off. Mortgages were once a way for families to purchase a home they’d live in together “until death.” When the mortgage was finally paid off, they would throw a party. But easy money and financial nihilism have taken their toll on society.

Take a look at the number of homeowners under the age of 30. As Nathan Halberstadt, a Partner at venture firm New Founding, pointed out—it’s only 12%.

Relevant, but just piece of story pic.twitter.com/hGdKwFl51I

— Nathan Halberstadt 🧊 (@NatHalberstadt) August 2, 2025

The Deeper Cause

Since Nixon decoupled the U.S. dollar from the gold standard in 1971, everything has become more expensive. Civilization is on the decline partly because of fiat money. Over time, easy money creates boom-and-bust cycles, driving prices higher and higher until the money itself takes on bubble-like attributes.

The euphoria is still real—in the form of American AI and tech stocks. But now, over the past few years, many people are starting to experience the consequences of the long-term money bubble. One of the clearest examples is unaffordable housing.

This didn’t happen overnight. The consequences have been building for decades. Some commentators simply point to the failure of the macro system. And yes—it has failed. Halberstadt’s chart was shocking enough to go viral. Marriage and homeownership for those under 30 have both fallen drastically.

Others say men and women are getting married later in life, which is true. But that doesn’t explain the growing number of single homeowners since 1971. More than just marriage breaking down, the family itself has broken down.

Homes Have Changed

Homes have become a form of monetary security—not a place for the nurturing and growth of the family, which is the first institution to stand against creeping fascism and the empty promises of government.

• For new couples, housing is a desperate attempt to “get into the market.”
• For single successful men, it’s a place to park their money.
• For single women in their 30s, housing is an alternative to waiting for a man to provide security.
• For underperforming men, it comes later in life—following the same advice as young couples, but with a sigh of relief that without kids, “they’ll just make it.”

The Solution Starts with the Family

If we want to fix the monetary system, it starts in what seems like the most unlikely place of resistance to government overreach: the family.

Families can resist the nihilism fiat money promotes. By producing their own culture, they reach beyond the empty state of wealth toward intergenerational relationships, submission to elders, a lifetime of personal development, and the passing of memories and care from one generation to the next.

In the sense of acquiring shelter, building a home, and giving purpose to recreational property, saving money gains meaning. That provides a foundation for the next generation to benefit the wider community.

Family wealth then shifts from each individual desperately struggling to acquire their own property toward education, skill development, and the maintenance and acquisition of wealth through family-owned business ventures.

Once families achieve long-term stability through housing and property, they are able to benefit the greater community.

If you want to fix housing, start with the family.

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