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this post was submitted on 13 Dec 2023
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The thing is, if everyone rents homes, then there will be a ton of political pressure to fix pricing. Of course the system is so broken that there's no guarantee of real change, but it could happen.
Aww, the peasants are unhappy. Better get the lobbyists on the line again
You're assuming people won't vote directly against their interests. This is America lol
That's why I hedged a lot, because people do all sorts of things, and the status is not quo.
A majority of people should always be renters, and homes should lose value over time if not rehabbed. Until both of those boxes are checked, housing prices will continue to rise.
Why should a majority of people be renters?
Prices are high because of hoarding by land barons and corps while we simply don't build enough in my opinion.
If not renters, condo (or something like it) owners. We need to build for density and disincentivize house ownership, because demand exceeds supply by such margins that we are unlikely to resolve it any time in the next generation of we only build houses - plus we are contributing to sprawl and the associated externalities.
LA is a warning, not an ideal.