281–290 of 1001 posts
Earlier quoted context omitted.
That's not the problem at all. Stop allowing people to buy multiple homes. Stop allowing landlords to "collaborate" on prices.
The causes of homelessness are a little more complex than that, at least in the US: https://homelessness.ucsf.edu/blog/vacancies-are-red-herring
Given how abundant land is, does it imply that supply shortages are purely man-made? (e.g. policies not allowing large swaths of land to be built on). Otherwise it doesn't make sense that prices are high for a good (housing) whose primary input (land) is in great supply.
That's not really how it works as far as I understand. Their are economic epicentres, and building near them means greater productivity and economic growth. The further out you get, the lower the ROI. The problem is, many cities in the west, controlled by an aging population of "haves" who bought when houses were the price of a sack of beans, feel that they are entitled to live in the same neighbourhood they purchase…
It's not a feeling, it's how purchasing things works.
Stop subsidizing demand at the national level. Stop restricting supply at the local level.
That's not the problem at all. Stop allowing people to buy multiple homes. Stop allowing landlords to "collaborate" on prices.
I’ve noticed roommates are not a thing for many people anymore, particularly among younger folk. Is this a post-Covid thing?
I bought in 2022, and while it was new construction, it's a pretty mid-range house. No premium finishes, in a growing but small city northwest of Houston. If you told me 10 years ago how much I paid for it, I'd ask what the name of my butler is.
Earlier quoted context omitted.
I'm not sure if it's the case in your location, but sometimes foreign buyers come in and buy properties they don't expect to inhabit (unless something goes really bad in their country). Europe and the US have strong rule of law systems that prevent the state from just taking property. (The government charging you with a bogus criminal charge to justify taking their property in in their home country). It's also an ass…
It’s dirty money.
Are mortage rates that high everywhere in the US? 7%, or 6.625% sound ridiculous to me in norther europe. I pay 4.54% now with roling 3 month-fixed rates, but its going down now, and I could get it for 3.55% if I fixed it for 5 years. 30 years fixed is pretty much impossible here in Sweden. But you get ~30% of your interest back as tax deduction, so effectively I am borrowing at ~3% (in SEK). Which, again, is cheaper…
However, it's common for people to refinance down to a lower rate when they come available, so lots of American homeowners have rates in the 2-3% range.
Stop subsidizing demand at the national level. Stop restricting supply at the local level.
Inequality is another issue. Even with enough homes, if they are all owned by minority of the population who extract rents from the rest the situation remains pretty dire.
Why doesn't the government build and sell housing at a small profit? Here in Dubai, the largest housing construction companies are or were government owned. It's one of the ways the government can have zero income tax despite oil being less than 1% of its economy. My only thought is that it's political, and some voters don't want their houses to lose value.
The land under UAE doesn’t have dozens or even hundreds of years of plot splitting and ownership claims too, there is just an enormous advantage to how new much of the county is and a government incentivized to grow. It does help that citizens form a smaller part of the population and that it seems like they get advantageous jobs and housing to keep them happy. Hard to compare to western counties.
I don’t get articles like this. It’s arguably a better financial decision to NOT buy a home, and park your downpayment in a broad based index fund. I get that there are arguments for or against, but there doesn’t seem to be a clear financial advantage to home ownership. So, what’s the big fuss about? Just pay rent and carry on? Surely, there are better things to focus on?
No-one can kick you out of your own home because they want to rent to someone they can charge more. No-one can tell you you can’t change the wallpaper in your own home, or remodel the bathroom, or get a dog. Not everything is a purely financial decision. A home is primarily a place to live, not an investment opportunity.
Yes, the housing association absolutely can tell you not to remodel your bathroom. Unless you literally own a house rather than an appartment, you really don't have a lot more rights than a renter would have.
I am speaking as a Finnish homeowner.