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?
No, unless we separate housing from investment, it will never be affordable. I don’t foresee the political will to make it happen.
I honestly think were heading for a total societal collapse. If the people with power and resources were the sort that were inclined to use it for good, they would have done it already. Given that we haven’t seen this, it’s reasonable that this accumulation at the top will continue unabated and that more and more people will fall into poverty and despair.
This is a recipe for revolution, and revolution is largely incompatible with stability, especially in the near term.
I wish this wasn’t the case. I suspect this century’'s deaths will dwarf last century’s.
No way, I think we are going to find out that circus is more important than bread, very soon. When people start needing to eat expired food and bugs, they won’t revolt as long as they have TikTok etc.
god i only hope.
Not without some real force or change, middle class has invested to much of their retirement into the housing market to allow the prices to tank. Those who have are not going to risk it for the have nots.
Imagine storing all of your nation’s wealth in real estate that is actively decaying by the minute instead of into companies that make products and provide jobs. What a stupid fucking idea.
No. As the effects of climate change become worse, people will migrate to cooler places, which will only push up prices in those places. Poor people will be left to live in uninhabitable and uninsurable areas, while the rich will get to live in comfort.
Climate change is essentially a class struggle, like everything else in life. As long as the 1% don’t have to suffer, nothing will be done. To get the rich to do something about climate change, it will have to affect them directly.
I also think in addition to what you mentioned people don’t want to address that the population is a problem as well. The earth more than doubled the people living on it in 70 years from all of human history, that’s not just sustainable. You can hypothetically fit 20 people in a one bedroom but just because you can doesn’t mean you should.
limate change is essentially a class struggle, like everything else in life. As long as the 1% don’t have to suffer, nothing will be done. To get the rich to do something about climate change, it will have to affect them directly.
Exactly this. Elysium comes to mind, altough it won’t be a space station in orbit but probably a densely populated blue zone in Western Antarctica defended by turret boats or some shit.
I’m in a hot climate and it’s far more expensive here than it is in cooler parts of the country, and it continues to be that way. Your hypothesis would be for the distant future, but that’s not what’s driving costs right now and in the immediate future.
Sure, but the premise of the question is if “we will ever have affordable housing again in our lifetime?” There is no reason to believe there will be affordable housing right now or in the immediate future, and this comment hypothesises why climate change will cause affordable housing to continue to be problematic in the distant future as well.
The solution is simple, but will never happen. Make it illegal to own a home you don’t live in.
Or at the very least make taxes paid proportionally more for each home you own past 1
What about apartments? Dorms? Would that make being homeless illegal?
Canada banned foreign ownership, and a bunch of local shell companies popped up. So it is not as simple as it sounds.
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If you don’t live in the building and it’s for permanent accomodation, you don’t own any part of it. Very simple. Feel free to rent out part of the building though if you do.
Whatever mental gymnastics you did to get from there to homelessness being illegal don’t apply.
|Make it illegal to own a home you don’t live in -> Feel free to rent out part of the building though if you do.
Wouldn’t renting out a building you don’t live in be illegal? Or is AirBnB a loophole?
Wouldn’t renting out a building you don’t live in be illegal
Yes. That’s the point. You can own it if it’s your residence even if someone else lives there too.
Also you don’t seem to comprehend the concept of bed and breakfast
So the only apartments in this brave new world would have the landlords literally living in them with you. That doesn’t sound like an upgrade to me.
Your grasp of the distinction between apartment and building is as abysmal as every other concept you mention.
Also you seem to be equally ignorant of the idea of owning an apartment and of social housing.
Ah, you are just a common troll. Got it. I was a bit tired, so I fed you after midnight. Won’t make that mistake again. Good night.
This is so stupid. The fact that people upvote this makes me want to go back to reddit
I think the people here are young and well meaning but don’t have much real world experience yet.
The opposite. I think home ownership will gradually seep away and only corporations will own houses. We’ll all basically rent small hovels from multinationals or it’ll be a package of the company we work for, like the dystopian show Severance.
“You’ll own nothing and be happy” - World Economic Forum
They really did go mask off with that one. I don’t understand anyone could’ve checked that out and signed off on it without going “surely people are going to see right through this?”. The answer is either apathy or malice, but both are equally bad for us in the end.
This is kind of just something that krept into my mind but I think with a slowing birthrate that we may just end up with too many homes at some point in the next 25 years.
If you’re talking about the US, the slowing birthrate is compensated for by immigration. This is what drives immigration policy and why the US hasn’t fallen into the same demographic slump as Japan has, and China soon will.
Add to this that much of the tight housing market is driven by people around the world investing in US real estate. Some estimates are as high as 30% of homes sitting empty, held by foreign investors, just appreciating.
Between these two things, we are extremely far from being able to visualize too much housing. I hope we get there, though. Because it would fix the high pricing and allow us to demolish some of the oldest, shittiest housing which is only still around because the market is so nuts.
It’ll probably even out as we may not have enough people to build them?
Perhaps, but in an energy-scarce world, who would be able to afford living in an old, inefficient house? I obviously hope to be wrong but increasing material price and labour might alone offset whatever price decrease the extra inventory of a decreasing population might bring. I hope to be wrong, ofc.
My old place was a cold, stone cottage and was a nightmare to keep heated.
The kitchen at one point was measuring 6°C and that was with the heating on in the winter.
We got out of there in December 2019 and I’m so glad we did, because with COVID, Brexit and the war, house prices went bananas, energy bills went through the roof and interest rates have increased massively.
We could never have afforded this place today. I really feel for young folks today, we bought our first home at 33 years old after years of saving and that was in the time of almost no interest - it would be impossible now.
I bought an apartment about 15 years ago. I finally finished paying it about 3 years ago, and recently got an offer to move to Ontario. With the current house prices and what I was offered there (about 80k), I could barely make rent for my family. I really wanted to move but had to say no because of stupid absurd rent prices. What’s weird is that if I wanted to rent the place I bought I would not be able to afford it either. This is bullshit.
Yeah but the market is going to have to absolutely tank first. There’s a lot of money in that bubble, and it’s going to be fucking painful when it does. But it’ll get there.
When it tanks people would be laid off and have no money for houses. Basically 2007 all over again. The rich would swoop up all the cheap real estate.
And the cycle would repeat a-fucking-gain, with the poor wanting silly things like owning their own land or homes and decent living wages being blamed for the next burst bubble
The problem is not affordable housing, there’s plenty of that in the US, the problem is getting people to states where housing is affordable without significant drops in quality of life due to lack of access to services and such.
Like, you could buy land in Detroit for the price of a decent car, put a trailer on it and you’re already on the property ladder, but you’re in Detroit.
After the climate mass deaths, migrations and/or wars, there should be plenty of land.
Although it might not be habitable.
Plenty of unoccupied land, but not unowned.
Perhaps, but what is ownership without a state to enforce it? Companies/landlords would need to occupy and defend it themselves.
I suspect that a strong push for fully remote work would help the US with housing costs due to a chunk of the workforce moving out of the cities and into the boonies.
No. With climate change more land will be unlivable, there will be more conflicts and more immigration (legal and illegal). Housing will increase because demand is high and supply will shrink further b
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.
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.
Only if capitalism falls. Otherwise zero chance. Sry.
Well, birth rate is steadily dropping. As people die the housing market could change. There are free houses in rural Japan because their population has been declining and young folks all moved to the cities. In 30-50 years we could see something similar.
you’re not factoring in catastrophic climate change into your equation. in 30 to 50 years much of the equatorial regions will ne unlivable. massive levels of climate refuges will be shifting. we’re seeing unlivable wet bulb temps TODAY. so this isn’t catastrophising. it’s an almost certainty at this juncture.
I dunno, I try not to worry about these things to much. I’m not having kids I do what I can to live a low carbon footprint life. Not really anything I can do about it. Thinking about moving somewhere cooler with more solid natural water access incase of societal collapse… I like to garden and preserve shit anyway.
That’s honestly the best you can do at this point. individual change is really limited when industry is like 85% of the issue. I try and do the same. grow my own food, drive an ev powered by solar panels, don’t eat meat etc. but it really feels futile when it’s a drop in the ocean as far as impact goes.
