YoudamanSteve t1_ir80rwj wrote on October 6, 2022 at 12:31 AM

Plenty of apartments in Springfield, you know what is non existent now, homes in the $100k-$120k. Five years ago this money would have bought a young couple a 3 bed 2 bath house. Homes are the largest factor to starting your own financial independence. Screw more rentals IMO.

laffingriver OP t1_ir88y7e wrote on October 6, 2022 at 1:38 AM

true, shoot not even 5 years ago prices were lower.

home ownership has been out of reach for a lot of people because wages werent rising as fast as home value. and ‘09 made loans harder to get.

also, those houses you are taking about arent necessarily being built. and if they are the interest rates are also a barrier to afford a home, so that couple needs ro rent, so rental houses increase for everyone. student loans are also a barrier to home ownership.

long term i would rather have more single family homes. grant ave may solve some of this or at least be a model. even those which do exist are better as air bnbs. its infuriating.

if a developer wanted to build in my neighborhood i would rather have apartments than a strip mall.

YoudamanSteve t1_ir8buj8 wrote on October 6, 2022 at 2:03 AM

I take your point and somewhat agree in areas.

City’s, states, federal government subsidize business interest for “jobs they create”, that money could be used to do anything. Subsidizing entry level home building could be one.

Fed want to curb inflation through interest rate hikes, to lower demand and cool the job market. They could easy set 2 levels of interest rates a lower rate for average people needing housing and starting a life through borrowing. Then a higher rate for wealthy and business interest, which would actually lower demand since poor folks to buy stuff.

It isn’t the lack of options, it just isn’t in the interest of the elite.

laffingriver OP t1_ir8w8iq wrote on October 6, 2022 at 5:16 AM

yes exactly and what can local gov do when facing a system setup this way ?

politicians like to cut ribbons and developers like to get big checks.

the local PZ committee vote in isnt capable of taking on fed policy designed to ensure their own stock portfolio rises.