this post was submitted on 04 Nov 2024
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A Boring Dystopia
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Homes are wildly unaffordable for nearly everybody! In the last decade literally hundreds of homes have been built in my town that sell for over $500,000. I want to know who the hell is buying them and how the hell they are affording them!
I have no idea how my son, who is 24, is going to buy a home of his own and at this point I'm wondering if I should sell my current place for a compound with enough space that I can turn into a multi-generational place so I can leave it to him and his family when my wife and I die.
Blackrock and other investment firms.
You and your son are the problem, everyone knows the free market will fix all inefficiencies, such as almost every global center lacking affordable housing because developers only want to build high margin homes. The free market just works or something.
The problem could be easily solved by you and your son just becoming wealthy, either that or decades of planning and government initiatives to mandate minimum supply and affordability if not outright building by governments--but how much work would that be !?! Probably easiest just to pretend it's complex market forces and not greed.