Most people here think that if renting magically went away, they could get a house and maintain it. From comments it seems also magical - almost like someone was to give a house to them the minute that renting was cut. Like, people will sell their houses and now there’s 50% of the population that needs to buy a home ASAP. The prices would get even more bonkers. After that temporary rise, nobody would build anymore - since it wouldn’t be profitable anymore to do that.
Not only that but some people just don’t want to own! We moved away while I was fully remote knowing full well that might be temporary, so what, I should have been forced to buy a house instead of renting? How would I have bought something else when needing to move back if the house I was forced to purchase didn’t sell quickly enough?
What’s funny as well is that home ownership to the level we’ve seen it since the 50s is an historical anomaly, even today there’s more home owners than there was 100 years ago so the people we see complaining are mostly people that wouldn’t be able to afford a house no matter what or that are young enough that it will just happen later on in their life or (based on what I’ve seen with many of my younger colleagues) that don’t want to start with what they’re actually able to purchase as a first home and instead want to start big and potentially never have to move again.
I mean, what I’d PREFERABLY like to see is a model like in large parts of Europe, where if you rent long enough, you are considered to own the apartment you’re normally renting. You still have to maintain it, but you do not have to necessarily pay rent (to my knowledge). I’d like to see more paths to owning your own space that is not necessarily a house - things like buying an apartment outright or a long-term lease that’s much harder to evict someone out of when you decide the rent needs to go up another $250.
Most people here think that if renting magically went away, they could get a house and maintain it. From comments it seems also magical - almost like someone was to give a house to them the minute that renting was cut. Like, people will sell their houses and now there’s 50% of the population that needs to buy a home ASAP. The prices would get even more bonkers. After that temporary rise, nobody would build anymore - since it wouldn’t be profitable anymore to do that.
Not only that but some people just don’t want to own! We moved away while I was fully remote knowing full well that might be temporary, so what, I should have been forced to buy a house instead of renting? How would I have bought something else when needing to move back if the house I was forced to purchase didn’t sell quickly enough?
What’s funny as well is that home ownership to the level we’ve seen it since the 50s is an historical anomaly, even today there’s more home owners than there was 100 years ago so the people we see complaining are mostly people that wouldn’t be able to afford a house no matter what or that are young enough that it will just happen later on in their life or (based on what I’ve seen with many of my younger colleagues) that don’t want to start with what they’re actually able to purchase as a first home and instead want to start big and potentially never have to move again.
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I mean, what I’d PREFERABLY like to see is a model like in large parts of Europe, where if you rent long enough, you are considered to own the apartment you’re normally renting. You still have to maintain it, but you do not have to necessarily pay rent (to my knowledge). I’d like to see more paths to owning your own space that is not necessarily a house - things like buying an apartment outright or a long-term lease that’s much harder to evict someone out of when you decide the rent needs to go up another $250.