04-05-2024, 09:25 PM
kj wrote:
I think the key is that there has to be more housing available than there is demand before prices will go down. Developers, investors, etc. aren't going to build that much, and why would they? They are going to build more, but not enough to meet demand. I've got 20yrs. left on this earth, maybe more, and I'm not going sacrifice what I have and enjoy because someone stands to make a buck.
50% of rentals are owned by companies with investors, which means people's rent is going into investors' pockets in the form of dividends, etc. How big a dividend is "enough"? No big is enough. That's why most of the homeless in California are people who used to have a home in the area they currently inhabit. They were priced out to put money in the pockets of investors. Supply and demand aren't going to fix this.
When everybody is trying to fit in the same space, somebody is going to be ass out. YIMBY goal is to increase density. NOT to accommodate people who become homeless as a result of the lack of available housing. But to cram "more" of who "they are" into desirable communities.