A Boring Dystopia

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Welcome to the 'nepo' housing market: 40% of homebuyers under 30 get family money to cover their down payment (fortune.com)

submitted 1 year ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Rooty@lemmy.world 31 points 1 year ago* (last edited 1 year ago) (1 children)

And again, the corporate media is blaming anyone but real estate companies and market speculators.

[–] Badass_panda@lemmy.world 5 points 1 year ago

Market speculators are a symptom of the problem, not the root cause. God knows "people giving their kids money for a downpayment" certainly isn't the root cause.

The foundational issue is that many high demand markets have artificial limitations on the amount of housing, and it's easier and more profitable for real estate developers to shit out mcmansions in the suburbs than denser housing where it's needed.

Demand keeps going up because the population keeps going up, while supply is focusing on fulfilling only the luxury end of the market.