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Do you think we will ever have affordable housing again in our lifetime? (lemmy.world)

submitted 1 year ago by [email protected] to c/[email protected]

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Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

To be honest, I never saw myself buying anything. But when rents were raised a whipping $500-600 in a single year in my area, I got concerned for the future. I bought a small condo that I could afford (still at a cost far above what it was worth pre-2020...around $40k like yours) because I was terrified at what would happen if rents continued to skyrocket at suck a rapid trend. Never in my life have I seen that happen before.

Idk if I made a good financial decision or not, but it seems both of us took a similar path). We'll see what the future holds.