There is no such thing as affordable housing anymore when the cheapest house in my regional market is full of mold and already in pending status. It’s just so damn depressing. Also, how much do you wanna bet this sold for more than the asking price?
I keep hearing from lots of news outlets that “the economy really isn’t that bad, guys”, and sure, compared to the Pandemic or Great Recession, maybe… but the big elephant in the room, the thing that NOBODY is talking about, is housing. Housing is still utterly impossible to attain for most people, and I have yet to hear of any good solution for it other than “hope the market fixes itself-- but NOT with a real estate crash, that would be bad! ;-;”.
Office real-estate is crashing because so many places are still trying to make WFH, well, WORK, and lots of people are asking (quite reasonably I think) “Why don’t we just rehab those office blocks into housing?” Unfortunately that is an expensive endeavor that the big real estate firms don’t have the appetite for, because it involves running new utility lines and doing lots of other changes to the structure of the buildings to make them actually livable. It’s easier for them to build their McMansions outside of the major cities while the cities themselves start to rot away.
There are SO MANY solutions to this that don’t suck, but no-one is going to try them because the profit margins are too slim. >_<
