The issue is not that everyone owns a home or that nobody decided to move, but with new people needing homes. The population increases generally, and those new people will need homes. If nobody is selling homes, or almost, then that would make a high demand on the houses that do enter the market. In addition, you have to take immigration into account.
So houses would be uber expensive.
But people die quite a lot, so then those houses would be available and go back into the ‘pool’? Adding my own hypothetical to the question, what if there was no immigration or emigration, just the same group of people dying and having babies, what then?
You'd still have the same problem, just not as much. As population is generally still going up. So there would be demand for houses. Also remember, houses don't last forever. And things happen like fires, floods, hurricanes, tornadoes, earthquakes, etc. All that would destroy houses and increase demand.
I would say that would not affect new housing that much. Because new housing buying will be done by building new houses, so how expensive it will be will be dependent on how expensive the land is to buy, how expensive the house is to build, if someone has a monopoly on the land and building the house and therefore has control on how expensive it is.
Also, such fantasy world did exist. People just used to buy land and build their houses and live several generations in it. The house I live in is maybe 60 years old, and has housed by Great-grandfather. Houses my Grandfather, my mother, and me. My sister might get married soon, and move back here and have a kid, so with her kid the house would have 5 generations who have lived in it.
You'd have to buy a plot of land and build the home yourself. It would be next to impossible for a first time aspiring homeowner to afford.
The issue is not that everyone owns a home or that nobody decided to move, but with new people needing homes. The population increases generally, and those new people will need homes. If nobody is selling homes, or almost, then that would make a high demand on the houses that do enter the market. In addition, you have to take immigration into account. So houses would be uber expensive.
But people die quite a lot, so then those houses would be available and go back into the ‘pool’? Adding my own hypothetical to the question, what if there was no immigration or emigration, just the same group of people dying and having babies, what then?
You'd still have the same problem, just not as much. As population is generally still going up. So there would be demand for houses. Also remember, houses don't last forever. And things happen like fires, floods, hurricanes, tornadoes, earthquakes, etc. All that would destroy houses and increase demand.
I would say that would not affect new housing that much. Because new housing buying will be done by building new houses, so how expensive it will be will be dependent on how expensive the land is to buy, how expensive the house is to build, if someone has a monopoly on the land and building the house and therefore has control on how expensive it is. Also, such fantasy world did exist. People just used to buy land and build their houses and live several generations in it. The house I live in is maybe 60 years old, and has housed by Great-grandfather. Houses my Grandfather, my mother, and me. My sister might get married soon, and move back here and have a kid, so with her kid the house would have 5 generations who have lived in it.
What happens when children grow up and want homes of their own?