So I was listening yesterday and the reported says something like… Young people have a hard time getting a mortgage because the older generation has low mortgage rates…blah blah…but now they’re all loosing jobs, getting sick etc so “that will unlock housing or mortgages” something annoying like that.
Well yeah. It happens every generation. Until I suppose nobody can make enough money to rent either much less have a mortgage. I much rather hear about mortgage rates coming down after another happy CEO event. Yeah fucking unlock that shit please!
Even the builder’s remedy isn’t going to solve homelessness or bring prices down much though. They still need to sell those properties, which means they need to have a price point that makes it profitable to build. So the law of supply and demand actually prevents them from building enough housing because if the price starts to go down they just stop building.
That’s why it helps to make it significantly cheaper to build housing.
It helps, I’m not denying that. But it can only ever slow down housing inflation and it can’t solve a housing shortage. As supply gets closer to demand their profits will start to drop. The only answer to that equation is the government paying them to keep building.
Oh I agree. It really requires -supported affordable housing. Although the best results come from integrating low-income units into mid-price housing so people can be near jobs and have decent groceries etc. Also mixing mid-price housing into high-end neighborhoods so the people who provide services can also live near where they work.
The real problem is landlords who’d rather sit on empty homes than lower the rent. And collude to keep rents inflated.
I’m fine with either approach. As far as I’m concerned if services and groceries are an issue then the government just builds more.