2 ms·
The only solution for the housing crisis is to build more houses. If supply increases and overtakes demand, the cost should decrease (I am no economist). The go
by Cthulhu_ 2y ago
The only solution for the housing crisis is to build more houses. If supply increases and overtakes demand, the cost should decrease (I am no economist). The government(s) should go a bit more heavy handed on breaking up zoning laws and NIMBYism, and on setting a higher standard of living / housing at lower cost.
I'm of the opinion that big apartment blocks are a quick way to add more housing, even though a lot of people think back on communist-era mass produced low quality concrete apartment cells. But it doesn't have to be like that. Construction is scalable, and (to appease the capitalists), a good apartment building is at least 100 years of guaranteed recurring income (assuming rent instead of buy, but the post is about public housing), and the investment will be earned back relatively fast.
That said, affordable housing should be available for everyone. When I was looking for a house, I didn't need anything fancy, two bedroom apartment would be more than fine for me. But by then I was earning too much for social housing, meaning there was a huge rent gap to the free market where I could get something equivalent but starting at twice as expensive per month. Not that it matters, the wait list for social housing was 15 years at that point.
For a long time the general advice was to spend at most a quarter or a third of your income on housing, but for most people this isn't viable and they have to pay more.