I think the biggest issue is that the price of homes proportional to income isn’t what it used to be. And that causes things to keep getting worse.
Homes cost more and people have less money so less homes are sold. This allows institutional investors to buy up larger portions of the available housing, and they prefer to rent those out.
So that along with other factors makes home prices keep going up causing less people to be able to buy. People being forced to pay a larger portion of their income to housing causes the spiral to get worse and creeps into other industries that people won’t patronize if they need to save money.
Landlordss being allowed free reign historically does this to countries. It happend in England and China and probably a lot more countries i am ignorant about.
Neighborhoods fighting densification tooth and nail make housing scarce, and people who want housing having to outbid each other for (proportional to population) fewer and fewer houses makes them unreasonably, unsustainably expensive. Which attracts investors and adds icing to the problem, but at root it’s the homeowners who got theirs and then pulled up the ladder after driving the scarcity of housing in the locations where people want to live.
If people demanded governments really invest in densification and new houses where the jobs are - including sharply limiting the ability of noisy impacted neighbors to drag the process out - the availability of houses would force prices down, which would cause the predatory investors to lose interest and add icing in the other direction, to affordability.
I think the biggest issue is that the price of homes proportional to income isn’t what it used to be. And that causes things to keep getting worse.
Homes cost more and people have less money so less homes are sold. This allows institutional investors to buy up larger portions of the available housing, and they prefer to rent those out.
So that along with other factors makes home prices keep going up causing less people to be able to buy. People being forced to pay a larger portion of their income to housing causes the spiral to get worse and creeps into other industries that people won’t patronize if they need to save money.
Landlordss being allowed free reign historically does this to countries. It happend in England and China and probably a lot more countries i am ignorant about.
Neighborhoods fighting densification tooth and nail make housing scarce, and people who want housing having to outbid each other for (proportional to population) fewer and fewer houses makes them unreasonably, unsustainably expensive. Which attracts investors and adds icing to the problem, but at root it’s the homeowners who got theirs and then pulled up the ladder after driving the scarcity of housing in the locations where people want to live.
If people demanded governments really invest in densification and new houses where the jobs are - including sharply limiting the ability of noisy impacted neighbors to drag the process out - the availability of houses would force prices down, which would cause the predatory investors to lose interest and add icing in the other direction, to affordability.