5 ms·

Yeah it's weird right, how can we make homes and rent cheaper without more supply of homes?

r00fus 4y ago
If you have speculators (foreign/corporate) buying all the new supply then does that really help in the long run? We have more vacant homes than we have homeless, for example. What would help is restricting foreign speculation and appropriately taxing corporate ownership of homes. A good example is what's going on in Canada [1] & Vancouver [2]. It's not like other countries haven't made meaningful attempts to address their population from buying homes. It's just that the US doesn't want to do it because the elite who own & constitute the political spectrum think it's bad for their bottom line and don't care if it's destabilizing the rest of society. [1] https://www.cnn.com/2023/01/01/business/canada-bans-home-purchases-foreigners/index.html https://www.cnn.com/2023/01/01/business/canada-bans-home-pur... [2] https://vancouver.ca/home-property-development/empty-homes-tax.aspx https://vancouver.ca/home-property-development/empty-homes-t...
- FooBarBizBazz 4y ago
  What if we convince them (and I think this is true) that this will make the stock market go up? A lot of real estate in "developed" countries is bought up due to capital flight to relative stability. If that weren't an option, the money would go into U.S. equities instead.
runesofdoom 4y ago
Stop treating them as sources if profit for investors?
- asdff 4y ago
  They only are a source of profit because they are made artificially scarce through restrictive zoning.
seydor 4y ago
i think that , if land and materials were cheap, genz or genX or any gen would learn to build their own homes. We ve actually been doing that for thousands of years
- dieselgate 4y ago
  yeah it's not that technically difficult to build a home, all things considered. there are a lot of other things involved for sure
- gedy 4y ago
  Agreed, the amount of free info available on building a safe, efficient home is great, as well as easy access to modern materials.
- nibbleshifter 4y ago
  Its not just a land/materials problem, its a zoning/permits issue in many places.
  - seydor 4y ago
    yes, primarily, including regulation of materials / methods
- asdff 4y ago
  We build houses differently now than years ago. 100 years ago, sure, you can totally make your own house because that used balloon framing. Today, with all the safety features built into a modern house, its a lot harder to take a few unskilled people and raise something up without it being a fire hazard.
  - AngryData 4y ago
    I would dispute that. Modern framing and construction is not that difference than 100 years ago, and in many cases is even easier. Oh sure we don't make balloon frame houses now because they are a fire hazard, but the skills used to put a floor in before the second story wall is no different than putting up a 2 story wall and building the second floor onto that, might use a nail gun instead of a hammer because it is 10x faster for sheathing though. And things like plumbing and electrical and drywall and flooring are easier than ever. I don't gotta plaster an entire wall into existence, just the joints between drywall. I don't gotta put ceramic knobs up to wrap my wiring around, I can just pull a shielded wire through the walls. I don't have to cut and solder lead pipe or install ceramic drain lines or huge threaded cast iron pipes, I use plastic which is way faster and easier in every way. I don't have to mend carpets, you buy new, and laminate flooring is cheaper than anything ever before and is so easy ive had a 6 year old child doing it. Tile hasn't changed in like forever. If you follow the bog standard construction methods, there are only a handful of dangerous or bad things you can do. Like pulling wire through sharp metal conduit holes and not using grommets. Or sticking your furnace up tight against bare wood boards or paneling. Or being completely clueless and ignoring the instructions printed on your insulation and creating a plastic trap for moisture to accumulate. Using brittle screws instead of nails for framing. And almost all of these things would be caught by an inspector immediately if you even tried.

If you have speculators (foreign/corporate) buying all the new supply then does that really help in the long run? We have more vacant homes than we have homeless, for example. What would help is restricting foreign speculation and appropriately taxing corporate ownership of homes. A good example is what's going on in Canada [1] & Vancouver [2]. It's not like other countries haven't made meaningful attempts to address their population from buying homes. It's just that the US doesn't want to do it because the elite who own & constitute the political spectrum think it's bad for their bottom line and don't care if it's destabilizing the rest of society. [1] https://www.cnn.com/2023/01/01/business/canada-bans-home-purchases-foreigners/index.html https://www.cnn.com/2023/01/01/business/canada-bans-home-pur... [2] https://vancouver.ca/home-property-development/empty-homes-tax.aspx https://vancouver.ca/home-property-development/empty-homes-t...

FooBarBizBazz 4y ago
What if we convince them (and I think this is true) that this will make the stock market go up? A lot of real estate in "developed" countries is bought up due to capital flight to relative stability. If that weren't an option, the money would go into U.S. equities instead.

runesofdoom 4y ago

Stop treating them as sources if profit for investors?

asdff 4y ago
They only are a source of profit because they are made artificially scarce through restrictive zoning.

seydor 4y ago

i think that , if land and materials were cheap, genz or genX or any gen would learn to build their own homes. We ve actually been doing that for thousands of years

dieselgate 4y ago
yeah it's not that technically difficult to build a home, all things considered. there are a lot of other things involved for sure
gedy 4y ago
Agreed, the amount of free info available on building a safe, efficient home is great, as well as easy access to modern materials.
nibbleshifter 4y ago
Its not just a land/materials problem, its a zoning/permits issue in many places.
- seydor 4y ago
  yes, primarily, including regulation of materials / methods
asdff 4y ago
We build houses differently now than years ago. 100 years ago, sure, you can totally make your own house because that used balloon framing. Today, with all the safety features built into a modern house, its a lot harder to take a few unskilled people and raise something up without it being a fire hazard.
- AngryData 4y ago
  I would dispute that. Modern framing and construction is not that difference than 100 years ago, and in many cases is even easier. Oh sure we don't make balloon frame houses now because they are a fire hazard, but the skills used to put a floor in before the second story wall is no different than putting up a 2 story wall and building the second floor onto that, might use a nail gun instead of a hammer because it is 10x faster for sheathing though. And things like plumbing and electrical and drywall and flooring are easier than ever. I don't gotta plaster an entire wall into existence, just the joints between drywall. I don't gotta put ceramic knobs up to wrap my wiring around, I can just pull a shielded wire through the walls. I don't have to cut and solder lead pipe or install ceramic drain lines or huge threaded cast iron pipes, I use plastic which is way faster and easier in every way. I don't have to mend carpets, you buy new, and laminate flooring is cheaper than anything ever before and is so easy ive had a 6 year old child doing it. Tile hasn't changed in like forever. If you follow the bog standard construction methods, there are only a handful of dangerous or bad things you can do. Like pulling wire through sharp metal conduit holes and not using grommets. Or sticking your furnace up tight against bare wood boards or paneling. Or being completely clueless and ignoring the instructions printed on your insulation and creating a plastic trap for moisture to accumulate. Using brittle screws instead of nails for framing. And almost all of these things would be caught by an inspector immediately if you even tried.