A Boring Dystopia

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Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment (fortune.com)

submitted 10 months ago by return2ozma to c/aboringdystopia

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[–] Rooty 33 points 10 months ago* (last edited 10 months ago) (1 children)

And again, the corporate media is blaming anyone but real estate companies and market speculators.

[–] Badass_panda 6 points 10 months ago

Market speculators are a symptom of the problem, not the root cause. God knows "people giving their kids money for a downpayment" certainly isn't the root cause.

The foundational issue is that many high demand markets have artificial limitations on the amount of housing, and it's easier and more profitable for real estate developers to shit out mcmansions in the suburbs than denser housing where it's needed.

Demand keeps going up because the population keeps going up, while supply is focusing on fulfilling only the luxury end of the market.