We’re also seeing a rapid increase in commercial vacancies with WFH. But there are big challenges and costs to turning commercial properties into residential.

I’ve heard a lot about the problems. Surely there’s some good ideas for a solution out there?

  • BReel@lemmy.one
    link
    fedilink
    English
    arrow-up
    17
    ·
    1 year ago

    This 100%. There is no shortage of physical houses. There is a shortage of AFFORDABLE houses.

    I just went through the buying process. I don’t make any crazy money, but a totally fine amount, more then a lot of people (65k/year)

    That meant even with a sizable down payment that I was rather lucky to have, my MAX was 200k. That meant I could afford like… 1/10 of the places for sale where I live.

    • Morogwen@lemmy.blahaj.zone
      link
      fedilink
      English
      arrow-up
      4
      ·
      1 year ago

      and we’re soon going to find out if Biden’s student loan forgiveness is going to be canned by fascist ideologues or if the midterms spooked them well enough to handle it correctly. If they decide to pull some shenanigans, there’s a real possibility that we’re staring down the barrel of a 3rd once in a lifetime economic crash from yet another bubble.

    • Melpomene@kbin.social
      link
      fedilink
      arrow-up
      3
      ·
      1 year ago

      Yes, same. I considered buying but given the 3% increase in the interest rate we saw, I’m just going to keep renting and hoping that things come back down before I’m 100 years old.

      • BReel@lemmy.one
        link
        fedilink
        arrow-up
        2
        ·
        1 year ago

        The only reason I got away from renting, even with the interest, was that it was still gonna be $100 cheaper, except +1 bed +1 bath and I actually OWN it.

        Plus, with my loan the interest rate can’t go any higher, but can be refinanced if things go lower. So since I was basically break even on the current interest, I decided to take it.

        • Melpomene@kbin.social
          link
          fedilink
          arrow-up
          2
          ·
          1 year ago

          I sort of like the idea that I can just… leave… and not worry about having an expensive albatross hanging around my neck. And my rent is low for the area so I’m doing better for now renting. I’d like to own eventually, I guess, but I prefer not to spend more per month if I can avoid it.

          • BReel@lemmy.one
            link
            fedilink
            arrow-up
            3
            ·
            1 year ago

            My rent was gonna go up $300, so that made it pretty easy as well haha. (I woulda stayed renting too if it had been cheaper /month)