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America's housing shortage is keeping home prices high (www.axios.com)

submitted 1 year ago by lumberjacked@beehaw.org to c/news@beehaw.org

37 comments fedilink hide all child comments

We’re also seeing a rapid increase in commercial vacancies with WFH. But there are big challenges and costs to turning commercial properties into residential.

I’ve heard a lot about the problems. Surely there’s some good ideas for a solution out there?

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[–] senicar@social.cyb3r.dog 7 points 1 year ago

A lot of people here in the US have bought into this as their retirement strategy. The value needs to go up, so they can downsize and ride the leftover cash for the rest of their life. If the number doesn't go up, they can't retire. This forces otherwise normal people to become very, very, invested in ensuring real estate is an asset with value that outpaces what people can afford. It's a ponzi scheme.