sorry what do you mean by saying "Desirability has changed. For example, the number of sports teams have tripled since 1950." ? I am like not American and I do not get how that is related to housing
Houses near desirable locations (e.g. sports stadiums) are more expensive. There are more of those desirable locations now (more sports teams = more sports stadiums). So the average is driven upwards even with no change to the housing itself.
Running a 15 minute errand on a game day could take hours. It was impossible to get my car out of the garage or get on/off the highway. The food/trash left on the streets was terrible too, which made walking my dog a PITA instead of a pleasure.
For me? Absolutely not, haha. But I'm sure it is for others. I have no idea what the average American would say.
People who choose to live, say 250mi from the nearest major professional sports team are going to have a ton less job opportunity, things of note to do, but will generally have a lot less to pay because no one else wants to live there.
If the market was flooded with options nobody would be talking about housing prices. People don't give a single thought about sports stadiums or if you're near a highway/airport or any of that soft nonsense. People are hard: they want a big house that isn't damaged on a nice plot of land above the flood plane where they don't spend 3 hours a day commuting to their job.
Who said that?
>People don't give a single thought about sports stadiums or if you're near a highway/airport or any of that soft nonsense.
You might not, but other people definitely do. It's common for people to have criteria when looking for a house (e.g. not having an airport or train station directly in your backyard, being near a good school, being close to x and y amenities, being on a main bus line, etc.). They don't go to a real estate agent and only say "I want a house". Being close to work is a starting filter. Most people apply more filters.
Stadiums were just an example of what people might consider desirable. I think the broader point hervature was making was that what is considered a desirable location (and the cost of being near those locations) has changed in the last 70 years. That is an effect on housing prices which is not clearly captured in the article's analysis.