#Housing

Few things emblematize the split between use and exchange value than rent. “The U.S. is building more apartments than it has in half a century, but the poorest people still can’t afford them.”

While demand for affordable housing has grown, the only increasing supply is high-end apartments, from new construction condos which enable gentrification, to the ultra-luxury and mostly empty skyscrapers.

Roshan Abraham

https://www.vice.com/en/article/y3w3aj/us-building-more-apartments-than-it-has-in-decades-but-not-for-the-poor-report

@corlin we have the same issue.

what i've learned is that the 🇨🇦 federal govt had an incentive program for developers & mgmt companies to build affordable apartments to provide that supply. since all those incentives have all but disappeared, they're still building but the high end stuff that they can profit from.

@singlemaltgirl @JanetZumba_FalPals @Faustus

What I find, is that there is NO middle.
You might find a studio, or 1 bedroom apt.
Or a luxury condo.
But nothing in the middle, how about a family of 4 or 6,
Forget about it at any cost.
They just do not exist.

@corlin @singlemaltgirl @JanetZumba_FalPals I don't think we have any new condo which will work for family of 4. They started to construct more and more smaller apt. And we don't have 3 bd anymore. Majority of families with 2 kids prefer to rent house or townhouse which is also not affordable as well, because of same reasons. My friend wanted to buy house from constructor, the line was huge and some people bought 2 houses immediately with cash. How ordinary person can afford it?..

@Faustus @singlemaltgirl @JanetZumba_FalPals

just a few solution:

Tax the shit out of rental properties owners.
Make it illegal for investment banks to own property to rent.
Subsidize rent for middle income folks.
Subsidize builders that build for families.
Subsidize and guarantee, home ownership loans through credit unions and small local banks.