The reason could be higher property taxes and maintenance costs. Somebody has to pay them and it’s the renter.
The solution is to increase the number of apartments. Simple supply and demand.
Deport the illegals.
The answer is obvious, isn’t it, Nationalize Housing.
Council Estates for Everyone!
Buy a Condo! Many times it is no more expensive than renting, and in the long run you build up some equity.
With renting all you have is rent receipts.
I simply don’t want to be tied down to a piece of property.
Over the years, I’ve had two condos and two houses with some acreage, but now don’t even mow a lawn or shovel a lick of snow.
Well worth not having to bother with that stuff. Also, helps keep me from accumulating a bunch of stuff/junk.
Probably move next year into a new complex that is being built nearby in order to cash in on the move in incentives.
Get rid of the illegals and create tens of millions of available housing units overnight.
Increase the supply by simplifying the permitting process and not penalizing landlords.
Reduce the demand by deporting criminal alien (for those of you in Rio Linda, in every other case, we call people who break the law 'criminals' not 'illegals') welfare and Section 8 recipients.
Supply and Demand. Less young people are investing in a house.
End foreign invest in real estate.
Thomas Sowell has been on this for decades. Less NIMBY regulation.
Also, of course, no public unions with their inflated contracts. Could be we need a whole wave of municipal bankruptcies to get beyond their coercive hold on our local taxes.
They're also anti-capitalist, so they shun private property. They're perfectly content to pay for someone else's property.
In California, the state needs to ease up on land use restrictions and development fees. There’s a lot of open space that could be sold and used for housing development.
In many places, rent controls and rules/laws which overly favor tenants have made building rental properties a losing proposition. Zoning may have a role, too. What I do know is that in the cities I’m familiar with, while there was a lot of rental apartment building constructed in the 50s and 60s, there ha been virtually none built since. Development policies that favor the building of apartment condos may have had a part, too.
The solution is Communism, of course.
Everything free for everybody. the
Living in a Van,
Down By the River!
Build new housing, both in the form of new development and infill, additions, conversions, and rehabs. In many urban areas, there is a lot of newly vacant commercial space that can be redeveloped into mixed use. The key point is to maintain and add to the existing housing stock so as to expand the supply.
buy a house