At last, someone from the world of politics is being honest about a pervasive and harmful trade-off. When home prices rise faster than earnings, owners like me gain wealth, while non-owners lose because their incomes fall further behind housing costs.

Honesty is saying that home prices have to fall. But this is progress.

The Generation Squeeze folks have recommendations.

  • Pxtl@lemmy.ca
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    1 year ago
    1. the market drop was tied to interest rates so the effective monthly mortgage is unchanged. Unless you’ve got a million bucks under your mattress to pay up-front, houses are still unaffordable.

    2. renters are people too, and their prices have gone up, not down.

    • BlameThePeacock@lemmy.ca
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      1 year ago

      It’s better to say “housing costs” rather than talking about the price itself. The costs wording includes things like mortgage interest, insurance, etc.