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Why is it that our population is double what it was in the 1970s, yet construction for apartments is 1/4th what it was in the 1970s and 1/3rd what it was in the 1980s??? And our population continues to grow millions every year! Where the hell is everyone supposed to live without apartments being built?
We need to start screaming to politicians about this. Our country is on the verge of a homeless crisis unlike anything we have ever experienced because there is literally no where for an average income person to live.
Our politicians need to START TALKING ABOUT THIS! I have yet to even hear this conversation come up in their speeches. It is almost as if they are oblivious to it.
Lower whatever barriers are preventing builders from building and if necessary give tax subsidies to built working class income apartments. SOMETHING NEEDS TO BE DONE! I don't even know what specifically but rents are going up by double digits year after year after year regardless of recession or not! This could break our whole society.
Why are 1/4th the number of apartments being built today compared to the 1970s?? When our population is so much larger? It makes zero sense to me. Clearly, the demand is there, as prices increase across most metros by 10-20% every flipping year.
You want rentals to become more affordable? Lower barriers to entry and crazy regulations on small businesses so they can start and grow, which will force corporations to actually raise their wages, which will make housing affordable. Trying to have the government solve all your problems is exactly why the economy has never really recovered and why inflation is through the roof while real wages are stagnant at best.
Codes are so strict and taxes are so high here that no one is building in the city limits. A dump of a 1 BR. Apt rents for $450 a month and in this area most people make around $8 an hour. My blind stepson lived in a public housing building for a while and his rent there, after subsidies, was over $400 a month. His disability check was less than $800.
You want rentals to become more affordable? Lower barriers to entry and crazy regulations on small businesses so they can start and grow, which will force corporations to actually raise their wages, which will make housing affordable. Trying to have the government solve all your problems is exactly why the economy has never really recovered and why inflation is through the roof while real wages are stagnant at best.
What is needed is simple and it is more multi-family housing construction!! Rents are increasing double digits year after year. At no time anywhere in our history have employers raised incomes at that rate. What keeps the rental market in check is the building of more apartment units. Something that for some reason today isn't happening and it needs to become a number 1 voting priority.
The rental apartment shortage is largely due to rent controls that try to keep rents down.
What then is your solution to the rent is too damn high?
Problem is lots of cities are building these units, but they are targeting the upper middle class demographic only with the downtown luxury condo boom. Pretty stupid IMO. I live in a small metropolitan area, yet rents here for a studio are $500 a month for an area that is basically meat and potatoes country. I mean, what? I'm sure it all has to do with keeping rent and sale values as high as possible.
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