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Do you think we will ever have affordable housing again in our lifetime? (lemmy.world)

submitted 1 year ago by filister@lemmy.world to c/asklemmy@lemmy.world

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Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[-] Kyrgizion@lemmy.world 20 points 1 year ago

No. Not because of overpopulation or such, but because the powers that be have simply discovered how lucrative it is to use housing as a business investment, and the fact that everyone NEEDS housing, no exceptions.

This is essentially a supply problem, so the "supply side" of this equation is the side with all the power. The end.

[-] sarchar@programming.dev 5 points 1 year ago

No. Not because of overpopulation, but because the central bank is devaluing the currency. That transfers wealth from all of us and gives it to TPTB.

[-] Natanael@slrpnk.net 4 points 1 year ago

Costs of housing have grown significantly faster than most other costs, it's not just regular inflation

[-] sarchar@programming.dev -2 points 1 year ago

And some things have experienced price deflation. It's all still related. Point still stands - central banking is the primary issue.

this post was submitted on 21 Aug 2023

461 points (96.8% liked)

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