Because that’s not the driving cause of minimum rent ballooning past the “30% of income” guideline for median earners in nearly every city in the US, while home prices are getting too high for someone spending more than 30% of their income on rent to save enough for the down payment necessary to be able to afford buying a home.
THIS is the housing crisis. Not a lack of residential buildings for people to live in, but rather people being priced out of home ownership at every step of the game.
The thing causing such price increases? Corporate ownership of residential buildings, because when they’ve bought out all the housing in an area they can set the price at whatever they want to make that money back. They have far more money and credit to buy up these homes than 999,999 out of a million individual owners, and they can use that to strong arm us out of the market. If you’re not already in the game, you’re barred from entering.
Because that’s not the driving cause of minimum rent ballooning past the “30% of income” guideline for median earners in nearly every city in the US, while home prices are getting too high for someone spending more than 30% of their income on rent to save enough for the down payment necessary to be able to afford buying a home.
THIS is the housing crisis. Not a lack of residential buildings for people to live in, but rather people being priced out of home ownership at every step of the game.
The thing causing such price increases? Corporate ownership of residential buildings, because when they’ve bought out all the housing in an area they can set the price at whatever they want to make that money back. They have far more money and credit to buy up these homes than 999,999 out of a million individual owners, and they can use that to strong arm us out of the market. If you’re not already in the game, you’re barred from entering.
Yeah.