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I agree the current situation is a mess. My comment relates to an idea I heard recently and really liked. Essentially it advocated subsiding mortgages instead
by jonah 12y ago
I agree the current situation is a mess.
My comment relates to an idea I heard recently and really liked. Essentially it advocated subsiding mortgages instead of rent for the classes of people who can't do it on their own. That way, they're building equity and have something to call their own.
In addition, we'd need to provide some additional protections from foreclosure, etc. commensurate with their need. Stability is a key factor to being to climb out of the hole.
- mindslight 12y agoSubsidizing mortgages will just cause them to go up - property "valuations" are only limited by the carrying cost of the loan. Honestly I think this is why California prices are so astronomically high - there are no heating bills in the winter to distract from mortgage payments. > commensurate with their need If satisfying government hoops is a requirement, you turn that into their primary job. And thats a dead end for respectability. > Stability is a key factor to being to climb out of the hole For many people, there is no discrete "hole" - their existence in an area is simply not economically viable. I don't state this harshly because I wish to cast them off, but because I wish to illustrate that putting a bandage on their individual situation still leaves the underlying treadmill that we're all on. (And yes, life itself is a treadmill as well - living isn't free. But tally up the costs of necessities such as food/water/shelter, and compare to the man-made rent to have a place to put that shelter)