cross-posted from: https://lemmy.world/post/3560407
Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
There’s kindof 2 ways to describe affordable housing though:
1: Affordable given any reasonable person with a reasonable job can afford to live within 15 minutes of their workplace
2: any locality that when you save enough money you can move to and find subsistence wages after moving (gentrification)
Number 1 is basically never coming back unless people spread out far and wide and opportunities are afforded by federal programs that can absorb the losses and round things out for everyone.
Number 2 is basically the only way to become a homeowner anymore