this post was submitted on 22 Aug 2023
217 points (99.1% liked)

News

23404 readers
4535 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

Mortgage interest rates have nearly tripled in the span of just a couple of years amid inflation fears and strong economic growth.

you are viewing a single comment's thread
view the rest of the comments
[–] YoBuckStopsHere 35 points 1 year ago (4 children)

Real Estate Corporations goals include blocking home ownership and forcing Americans into a rental only market, similar to Germany.

[–] matter 16 points 1 year ago (1 children)

Germany is a terrible comparison here. Home ownership in Germany is about 50%, true, much lower than the US' 65%. However, the majority of those rentals are apartments rather than houses, since even small towns are highly densified, very unlike the USA. There are many state landlords which provide rentals at a very attractive price; it's rare for people to spend more than 30% of their post-tax income on rent. Furthermore, there are extremely strong protections for renters, restrictions on rent increases, and they can renovate their apartments as they please. That's very different from what American real estate corporations want.

[–] YoBuckStopsHere 3 points 1 year ago (1 children)

The United States isn't building houses; it is building apartments.

[–] matter 1 points 1 year ago

That's great but the percentage of people who currently live in single family houses is much greater in the USA than in Germany.

If only the USA was building some solid laws protecting tenants...

[–] Fredselfish 7 points 1 year ago (1 children)

Really is that how Germany is? And all this bullshit about inflation it is called Corporate Greed and we need to be singing it to rafters. Fucking greedy corporations making record profits while wages stagnate.

All raising rates do is continue to make it impossible for average American to own a home.

[–] grue 6 points 1 year ago (1 children)

it is called Corporate Greed and we need to be singing it to rafters. Fucking greedy corporations making record profits while wages stagnate.

That's like complaining that mosquitoes suck blood and carry disease. It's their nature. If you don't like it, the only solution is extermination.

[–] Fredselfish 5 points 1 year ago

Like the way you think.

[–] [email protected] 1 points 1 year ago

Yeah, this was the outcome that was predicted when they allowed real estate brokers to also be property managers.

People wonder why starter homes havent existed on the market for 25 years and the answer is because nobody builds them, and when they do go up for sale, real estate agents are sending them the way of clients they already represent as property managers.

Why sell a house for 3% commission just once when you can sell it to somebody you are already partnered with and then make a 5% comission every month for the rest of your professional career while maybe only putting 15 hours per year worth of work into the unit?

Pretty much every issue in America comes down to the partnership of banks, real estate agents and landlords.

[–] [email protected] 0 points 1 year ago

Interesting, I didn't know that about Germany. I'll have to look into how that is working out for them, seeing as probably quite a lot of people my age and younger won't be able to afford to buy.