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The Great Compression

·1 min

House Prices Skyrocket: Unaffordability Increases

A retired nurse, Robert Lanter, purchased a new single-family home in Redmond, Oregon, which is becoming one of the state’s most expensive housing markets. The house is priced at under $300,000, a rarity in the current housing market. Lanter’s house is incredibly small, measuring 600 square feet. However, there are even smaller homes in his subdivision, some as tiny as 400 square feet. These small homes provide an affordable option for Lanter and his neighbors to own homes in a market with skyrocketing prices.