Re:A record number of Americans can't afford rent
by cglan on Wednesday February 07, 2024 @03:34PM
(#39293928)
i mean 30 year fixed mortgages aren't the only thing. I just pointed it as example. The insane keys to power we've given homeowners to essentially fight back against any kind of building in the form of environmental reviews, and community boards are a much bigger problem. It's all a problem. Most western countries have fallen into the same trap in terms of homeownership.
Re:A record number of Americans can't afford rent
by gottorf on Wednesday February 07, 2024 @03:45PM
(#39294075)
> The insane keys to power we've given homeowners to essentially fight back against any kind of building in the form of environmental reviews, and community boards
That's right. The states that have the least land-use freedom[0] are some of the worst in terms of housing availability.
Canada is in worse shape, and doesn't have 30 year fixed mortgages (most are 5 years), and you can't write off mortgage interest expenses. In other words, our homeowner incentives are worse, and yet the house crisis is also worse.
That's leaves what you mention off-the-hop: we aren't building enough. But why? Is it a supply or demand problem? My country is starting to believe it's the latter.