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Do you think we will ever have affordable housing again in our lifetime? (lemmy.world)

submitted 1 year ago by filister@lemmy.world to c/asklemmy@lemmy.world

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Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[-] MolochAlter@lemmy.world 24 points 1 year ago* (last edited 1 year ago)

The problem is not affordable housing, there's plenty of that in the US, the problem is getting people to states where housing is affordable without significant drops in quality of life due to lack of access to services and such.

Like, you could buy land in Detroit for the price of a decent car, put a trailer on it and you're already on the property ladder, but you're in Detroit.

[-] JAC@reddthat.com 11 points 1 year ago

This sounds great, but when people start moving, pricing goes up. There's too much investing and too little self-ownership of housing.

[-] And009@reddthat.com 3 points 1 year ago

The rise would be slow if it's spread out. In my country it's one of the better ways to build equity. Buy where it's cheaper and wait for prices to go up.

Then sell it in 10 years and buy where you want to live, you'll have atleast half the money and definitely more than what you paid for it

this post was submitted on 21 Aug 2023

460 points (96.7% liked)

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