Your property taxes and insurance costs will go up. Along with cheap mortgages that have been around for at least 20 years, this will make houses even more unaffordable. People need shelter from the elements, so inexpensive housing is a better benefit for people who need it. The higher the prices, the more people lose access to shelter; law of economics, there is no escape.
Local governments are the reason why housing is expensive. It is democracy at work; local politicians don’t want to relax zoning, because homeowners want higher home prices. They want equity and want to retire with an inflated asset. And HUD sets the standard for building codes across the market because a large portion of the market is government supported. You have a myopic dualism of good vs evil. American government is not your friend for affordable housing. Singaporean government is the friend of the people, US governments is not. You have a general bias toward government that is not realistic.
Your property taxes and insurance costs will go up. Along with cheap mortgages that have been around for at least 20 years, this will make houses even more unaffordable. People need shelter from the elements, so inexpensive housing is a better benefit for people who need it. The higher the prices, the more people lose access to shelter; law of economics, there is no escape.
Pst - we already lost the cheap mortgages.
If you want to house everyone support government housing initiatives - the private housing market is dominated by corporate landlords and speculators.
Local governments are the reason why housing is expensive. It is democracy at work; local politicians don’t want to relax zoning, because homeowners want higher home prices. They want equity and want to retire with an inflated asset. And HUD sets the standard for building codes across the market because a large portion of the market is government supported. You have a myopic dualism of good vs evil. American government is not your friend for affordable housing. Singaporean government is the friend of the people, US governments is not. You have a general bias toward government that is not realistic.