My salary didn’t change at all, but homes went up 82%. The money I saved for a down payment and my salary no longer are good enough for this home and many others. This ain’t even a “good” home either. It was a 200k meh average ok home before. Now it’s simply unaffordable

  • PriorityMotif@lemmy.worldEnglish
    83·
    2 months ago

    Eventually supply will catch up with demand which will supress rent (if we do something about the price fixing) and it will no longer be a viable investment. They’re probably losing a lot to management costs and capital expenses already.

    • chiliedogg@lemmy.worldEnglish
      11·
      2 months ago

      Single-family rental is also a huge thing now.

      I work in municipal development, and since 2021, 100% of single-family subdivision developments that have approached the city have been for rental-only neighborhoods.

      And they want to put all the homes on a single shared commercial water meter on a single piece of property instead of extending public lines, so they can’t even be converted later without massive infrastructure projects and replatting.

    • Cryophilia@lemmy.worldEnglish
      9·
      2 months ago

      Eventually supply will catch up with demand

      Not if NIMBYs have their way. We have a MASSIVE supply problem already, and it’s getting worse.

      • PriorityMotif@lemmy.worldEnglish
        2·
        2 months ago

        Not exactly a good business strategy. You can deduct the taxes, insurance, management costs, but you have to amoratize depreciation of the building over 28 years. Not to mention that an empty house is going to start developing problems fairly quickly.