Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment
Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment
Redfin chief economist Daryl Fairweather: "It seems like the only way to kind of get your foot in the door to the housing market is to have some help"
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God, if only people could just like pool their resources together to build homes or something...
We could even call it something like "social housing," and have it be a publically regulated service instead of treating housing as some sort of game of investment for the wealthy? No no, totally impossible...
Even going back to the way things were in the 70's where workers got a fairer share of the products of their labour that wasn't leeched away by non-productive shareholders would make a huge difference. There's a reason you could buy a house on a single income when you had 5 kids back then.
Hell we had deals where if you build the house yourself, they will give you the plot of land absolutely for free. But that was 30 years ago. I am absolutely sure people these days couldn't do it - either not manually skilled enough, but have the money, or manually skilled, but their job doesn't pay well enough to afford spending time building a house.
Well, the 70s was before the time of Reagan and Thatcher coming in and wrecking unions and deregulating commerce and industry.
Back before conservatives stripped the economy for parts, and left us with nothing? Yep.
You also pretty much described what S&Ls were.
Honestly wish they could make a comeback, but we'd need to ban them from becoming national organizations. Their biggest benefits were that they helped people get houses, provided proper financial advice, and kept money local.
We are limited by the technology of our time
They are called condos
Sure that totally worked for the Soviet Union.
It kinda did, didn't it? People are still living in those buildings, right?
They live in rundown shitholes mostly.
I tried to add a photo to this post but images seem to be banned atm due to the attacks on Lemmy. Just Google it and see the beauty of the land of krokodil.
I've heard that in the Soviet countries, they have very tall apartment buildings, many don't even have elevators. Some have elevators, but you have to pay to ride them.
Not really. There are "commie block" apartments across not just Russia but lots of Eastern and Central Europe that are more desirable, pleasant, and cheaper than many new developments in the US and UK.
You can also look at Red Vienna housing, another socialist urban design.
It actually did tho
State-owned apartments are working out well in pretty much every other country on earth. And certainly in everyone region exceot perhaps North and South America.