• Snowclone@lemmy.world
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    11 hours ago

    that should be the goal. make it pointless to rent and let people buy homes for themselves

    • adjectivenoun@lemmy.world
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      9 hours ago

      Renting can be a good option, especially when you consider the way equity vs interest are structured in the first few years of a mortgage. It’s 99% interest at first, and then it slowly inverts year-over-year, which sure feels like renting my house from the bank for the first ten years… but I can’t call up the bank and make them fix my electrical, plumbing, or appliances.

      It would be nice to see a ban on renters snapping up existing properties, and a limit on how long single family newly constructed homes can be kept as rental properties.

      • Snowclone@lemmy.world
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        4 hours ago

        prices would go down to affordable if renting was unprofitable. and even if you have to buy in, eventually you own the equity and even now with housing prices and interest rates high, it’s still cheaper to pay a mortgage than rent and A LOT of renters are scum that won’t even maintain your building.