• SCB@lemmy.world
    83·
    7 months ago

    In any ideal scenario, renting would be preferable to buying for the vast majority of people.

    The reason buying crushes renting, in terms of value, is that the value of housing (and thus the price) continually rises. Homeowners get equity and renters get fucked.

    This happens because we literally are not allowed to build enough housing. This makes owning a home an investment.

    I’ll give you three guesses as to what bloc of voters instituted those restrictions, and continues to fight for them today.

    • pelespirit@sh.itjust.works
      3·
      7 months ago

      We are in the actual thread that tells you why there’s a problem, it’s corporations and investment funds buying up all of the available supply. We might be tight on supply if we got rid of all of them doing that, but it wouldn’t be a crisis.

    • milicent_bystandr@lemm.ee
      11·
      7 months ago

      I suppose my ideals are different: in an ideal scenario, I think buying is preferable to renting. But besides the problem of having enough money to get started with buying, renting gives a flexibility and reduced (outsourced to landlord) responsibility that’s very valuable for many people, especially in the short term.