I can't tell if this is sarcasm. The housing market is suffering due to "real estate investors" just buying out and renting houses that used to be non-rental. Investment is driving up the cost of housing significantly. There's going to be a reckoning as wages are kept down and mortgages keep going up though. Eventually rent to cover mortgages are going to be too high and it's just going to push out the small time real estate investors, and either more companies will move in or there'll be a small drop in pricing.

[–] HubertManne@kbin.social 8 points 2 years ago

One reason the condo complex has sane, ish, prices is that rentals are not allowed and if you want to flip one you will be paying both taxes and association dues till its sold.

[–] books@lemmy.world 0 points 2 years ago (2 children)

I'll agree that is A problem, but not the only problem.

Nimbyism
Building laws
licensing laws
zoning

Those things also add to the exorbitant cost of housing. It's not investors who are causing houses to cost 300 a square foot in my city, it's lack of buildable land, contractor availability, licensing, residential zoning laws. All those things equal cost... some of those things could be fixed with less regulation.

[–] bennieandthez@lemmygrad.ml 4 points 2 years ago (1 children)

You do realize it's a rich people hoarding land/houses problem, not a building laws problem right?

[–] MotoAsh@lemmy.world 2 points 2 years ago

Well, it's both, but I agree with you that rich fucks and corpos running rentals and airbnb's is a much more prescient and addressable issue.

[–] pjhenry1216@kbin.social 1 points 2 years ago (1 children)

I mean, food can be made cheaper with less regulation too, that doesn't mean that's the right answer or even a good answer. Most of that stuff you mentioned has been in place for a long time. The more recent blowup in cost isn't directly related.

[–] books@lemmy.world -1 points 2 years ago

You do realize it's possible that it's more than one thing that is contributing to the cost of housing, right? .. and not just landlords, despite what lemmy keeps telling everyone.