The reason they’re not able to pay for home ownership is because people buy homes to rent for profit. If poor people only had to compete on price with other poor people instead of with investors, house prices would go back to 20th century levels where you could buy one for 3x your salary.
They tried banning landlords in specific neighborhoods in Rotterdam.
It lead to gentrification.
The people who bought the units, on average, were more wealthy than existing renters, but less wealthy than existing owner-occupiers. Basically, it forced poor people out of that neighborhood, and replaced them with middle class people.
There’s a lot of reasons why buying a house is expensive. In many places, it’s less because of corporate landlords, and more due to population growth outpacing housing growth.
Im sure they also thought the lack of poor people owning houses was “easily solved” by banning landlords.
But how does pegging the unit ownership to income even work?
They had renting back then too and way before that, and it was really large scale too. It’s not really a new phenomenon. And obviously buying a house is still a lot (and I mean a lot) more expensive than renting. Not everyone can save off from their paycheck so that they’d be able to pay for even these cheaper houses.
But in this case I’m not sure if we are talking about situation where the original post’s house was on sale (which would just make it a regular house you have to buy) or a situation where there isn’t any renting at all (or profiting from it), in which case it’d still be more expensive but less so than renting.
I bought my first apartment because my monthly costs would be like 30% less than rent. Like with many things, it’s expensive to be poor.
Absolutely. It’s the same even in very small scale in buying groceries. You can save a lot by buying bigger sized packages but not everyone can afford to since they don’t have such money on hand. So they’re wasting money (or being less efficient about it) because they can’t afford to not do anything else. Shitty situation.
