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How could this happen? (media.piefed.world)

submitted 17 hours ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works

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[–] Auth@lemmy.world 1 points 4 hours ago (1 children)

Its not an issue of luxury home construction vs peasant home construction I doubt this even makes a dent. Investors are not buying up empty houses and sitting on them because they are to lazy to rent them out, thats absurd.

The issue is simply that housing development is to slow. The demand to build houses in higher density is there but local zoning laws and nimby residents block the developments. In cities where zoning laws were changed to allow development we see prices decrease.

[–] Test_Tickles@lemmy.world 1 points 1 hour ago

Its not an issue of luxury home construction vs peasant home construction I doubt this even makes a dent. Investors are not buying up empty houses and sitting on them because they are to lazy to rent them out, thats absurd.

https://ohiocapitaljournal.com/2024/10/22/report-billionaire-investors-driving-homelessness-housing-costs/#%3A%7E%3Atext=%E2%80%9CWealthy+investors+are+buying+up%2Cestate+as+a+luxury+asset.

The issue is simply that housing development is to slow. The demand to build houses in higher density is there but local zoning laws and nimby residents block the developments. In cities where zoning laws were changed to allow development we see prices decrease.

https://archive.is/20250110182457/https://www.wsj.com/real-estate/commercial/the-u-s-has-more-fancy-apartments-than-it-is-able-to-fill-f7bca968