cross-posted from: https://lemmy.world/post/14231269
Let them fight (second image in body)
this post was submitted on 03 Jul 2024
89 points (94.1% liked)
Housing Bubble 2: Return of the Ugly
326 readers
217 users here now
A community for discussing and documenting the second great housing bubble.
founded 6 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
In a market with expensive housing, that would have effects similar to simply making renting illegal: a dramatic drop in property values, conversion of multi-unit rental properties into condos, and no apartments available for rent anywhere that isn't a slum. I suppose it would be good for home-buyers, since people owning (former) rental properties would be desperate to sell, but it wouldn't be good for renters.
If housing were cheap why wouldn't renters just by or go into co ops.
Owning a house takes a lot of money that renters don't necessarily have
And take a wild guess about why they don't have that money
It wouldn't take lots of money of there were no landlords. The average home takes only 300 labor hours to build. Homes are expensive because of the rent can pull in, not because they're expensive to build.