Houses in the U.S. are collectively getting older. Seeking Alpha just published a report: The cost of home repairs in the U.S. is skyrocketing, and homeowners are feeling more financial pressure. The median age of existing homes in the U.S. has now surpassed 40 years. The post-WWII baby boom housing boom? Those houses are all hitting their major repair phase now. Roofs, plumbing, electrical systems, foundations... Building material prices haven’t really come down since 2020. Labor costs are climbing even higher—blue-collar skilled worker shortages are one of the biggest structural issues in the U.S. labor market. Want to find a reliable plumber? Waiting three months is the norm. A typical roof replacement? $15,000-$30,000. Replacing all the plumbing? Starts at $10,000. And that’s the standard rate—need it rushed? Pay extra. From an investment perspective— The hidden inflation in U.S. real estate is far worse than what the CPI shows. Housing has a high weight in the CPI, but it only accounts for rent equivalents, not repair costs. The true holding cost of a 40-year-old home is higher than the monthly mortgage payment. Meanwhile, retailers like Home Depot and Lowe’s have strong long-term fundamentals. Building materials, tools, repair services—the demand is inelastic. At the same time, the new home market will also benefit. When the cost of repairing an old home approaches the price of building a new one, more people will opt to tear down and rebuild or just buy a new home.