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Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment
(archive.ph)
Definitely a trend I see around me (Europe, 30 years old).
All of my friends able to buy got at least 30k - 50k from their parents.
Is it the same around you? How do you deal with this?
Also, some data from a few days back:
https://discuss.tchncs.de/post/2426785?scrollToComments=true
This graph is cherry picked from the worst of Canadian sectors and the best of American. Still in general Canadian housing is bad. The problem isn't about building houses. Everyone wants to live within 30 miles of the border. All our farm land and natural green space is in the same location. So what would you do? Which would you have us do? Bulldoze farm land, or bulldoze protected green space that is already threatened? If it was as easy as "build houses" we could have done that. We have more than enough houses/accommodation for everyone. But much of the available supply is bought up by people that have more money than the people that need the housing. Add in foreign investment, corporations, speculation and pent up demand.... Well here we are.
I mean, the same could be said for the larger regional areas of the US surrounding the cities that are experiencing the fastest increase in housing prices. But the problem, like you said, is people want to live in a small area that is already occupied, and not always where the available houses are (when they're available and not being hoarded by "investors")
I know that here in the Boston area what we need is more housING but not more housES. Build up, not out. And make vertical housing actually appealing by building walkable neighborhoods with access to good public transit so cars aren't a necessity.
It's a big change but not an impossible one
Yeah that would be nice. No one wants to live in apartments here because they are usually in the city. If you we've to raise a family, it's not easy in a city.
Then build fucking apartments instead, damn it!