Biden to propose new $5000 tax credit for first-time home buyers

return2ozma@lemmy.world to politics @lemmy.world – 147 points –
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The housing crisis won't end until (among other things) corporations cannot freely own limitless numbers of single family homes. We will see perpetual renting because it's effectively passive income for the corporations, and they have deeper pockets than 99.9% of individuals.

As companies own more and more, but don't sell, supply dwindles, and the bubble never bursts.

It won't end until we have significant growth in the supply of housing units in the places people want to live relative to the number of people we have. Anything else is just window dressing.

We've been chronically underbuilding for decades, while population continued to grow. What would you expect to happen?

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