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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[–] Pandemanium@lemm.ee 1 points 1 year ago

What happened is that after 2008, builders became afraid to build (for good reason), and since then housing construction still hasn't rebounded to what it needs to be to meet demand. The houses they are building are bigger (5bd compared to 2-3bd), so new homes are also more expensive to begin with. Both first-time buyers and downsizing boomers are competing for the tiny supply of 2-3bds.