undefined | Better HN

0 pointslotsofpulp6mo ago0 comments

I wonder if this is true. There is significant risk in price changes for renting (or even HOA fees for condominiums), such that many middle class people might feel more secure living in their home with a near zero interest rate mortgage, if not a paid off mortgage.

On top of that, most jurisdictions (in the US) subsidize property tax rates for senior citizens, so there is a lot less price volatility for simply remaining in one’s home (or even moving to a different, but smaller detached single family home).

Unless a person specifically wants an urban lifestyle in a shared building, I don’t see much impetus to move out. Worst case, they get to stay in their home they have gotten used to and have space for visitors, best case they save a bunch of money and sleep easy knowing their costs are more controlled.

0 comments

nephanth6mo ago

As little as one experience is worth,

When I lived in socal, almost every person under 35 i knew there was living in a 2-4bd with roommates.

1bd and studios were very scace, and almost often prohibitively expensive.

So I second that creating a real offer for 1bd and studios would definitely free up family housing.

On top of that 1 and 2-person households still need housing. Building some for them is a good thing in my book

lalaland11256mo ago

I was talking about renters moving out of larger apartments or shared homes into 1/2 bedroom apartments.

Middle class homeownership is basically dead in California due to the absurd price of housing. Almost everyone young who didn't inherit wealth or earn 90th percentile income is renting

j / k navigate · click thread line to collapse