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slimyprincelimey t1_j9fobhb wrote

Reply to comment by MethBearBestBear in Sorry to the NHer’s who wanted to stay! by 603ify

Demand has far outstripped supply. Building more is increasing supply. There's no magic wand you can wave to decrease costs without making more housing.

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MethBearBestBear t1_j9fq8pc wrote

There is no magic wand but discouraging people buying a third rental property out bidding the first time home owner and offering support to first time home owners would assist with the issue. Supply and demand has 2 factors. More houses fixes the low supply high demand but lowering the demand is easier than increasing supply.

Yes multifamilies being built faster than single family has cause a conflict between high demand of downsizes and first time home buyers but this is usually maintained by the group of small house owners leaving smaller houses opening up properties. The issue now is people holding onto additional homes for rent or "as investments" causing an artificial restriction in supply

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slimyprincelimey t1_j9gc1en wrote

Offering support to first time home owners would increase demand significantly because it would increase the pool of people that can buy houses. And, I'd be curious how you suggest we "discourage" people from buying properties.

The only way out is to increase supply, or decrease demand.

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