So I was listening yesterday and the reported says something like… Young people have a hard time getting a mortgage because the older generation has low mortgage rates…blah blah…but now they’re all loosing jobs, getting sick etc so “that will unlock housing or mortgages” something annoying like that.
Well yeah. It happens every generation. Until I suppose nobody can make enough money to rent either much less have a mortgage. I much rather hear about mortgage rates coming down after another happy CEO event. Yeah fucking unlock that shit please!
I’ve been saying it for years. We need to give HUD 500 million dollars (to start) and immunity from all but federal environmental laws. They drop apartment buildings in the highest cost markets with prices set to repay HUD over 50 years, cover maintenance, and two remodels in that time period. And the rent is of course nearly stabilized because it’s not seeking a profit. Then use the near guaranteed asset income to finance the next wave of buildings.
Just start dropping fucking anchors into the market.
They need to do the same thing for groceries too. Starting in food deserts, then monopoly areas, then high cost of living areas. Americans think they would hate it but in reality there would be literal fights to get those apartments.
AOC backed an idea to build homes and the ln hand over ownership to tenant cooperatives or non-profit orgs. Seemed like a decent idea on the surface.
https://gothamist.com/news/rep-aoc-unveils-new-housing-plan-to-spur-more-than-1m-affordable-homes
Yeah there’s a few ways to do it. I won’t complain about how it happens.