General Discussion
In reply to the discussion: *Warning: Rage Inducing* Older Americans Are Hoarding America's Potential [View all]hunter
(40,778 posts)... while banning the corporate ownership of these homes.
It seems that in many cities the only new housing that's allowed to be built is corporate owned apartment buildings and large single family homes 2000 square feet of larger. That's great for the big developers, but not so good for young people.
My wife and I bought our first home for $8,000 cash in the "rust belt" of the Midwest. That was about the same price I paid for the only new car I've ever bought, about $20,000 in today's money.
We could set kids on the path to home ownership starting in high school, teaching them the skills to refurbish old homes or build new ones and then give them the opportunity to buy these homes. From there they could keep "trading up" as their incomes increased. That's what my parents did, that's what my wife and I did, that's what my siblings did
Why can't we do this today? Apparently it would hamper the ability of the wealthy to suck money out of working class communities. Gotta keep those proles in their place.