>if your house is currently a million dollars then dropping in value by a third is roughly the difference between needing 220k a year of income to buy it or 156k a year of income to buy it. it's a 96th percentile income house vs a 92nd percentile income house, which makes it an affordable house to many millions more people.
Another way to put this is it would set house prices back by 3-4 years, which is where I was coming at it from.
I do think there is a lot that should be done on the regulatory front, so that more people can own, and more people in general can have roofs over their head.
I think it is despicable that we as a society have enacted things like minimum unit size while there are homeless people struggling to find housing. I think there should be basically no regulations for owner occupied homes, and the bare minimum safety standards for rentals. IF someone wants to rent a 10x10ft cinderblock cell to live in, they must really be struggling, so why the hell would we want to make things harder for them.
Another way to put this is it would set house prices back by 3-4 years, which is where I was coming at it from.
I do think there is a lot that should be done on the regulatory front, so that more people can own, and more people in general can have roofs over their head.
I think it is despicable that we as a society have enacted things like minimum unit size while there are homeless people struggling to find housing. I think there should be basically no regulations for owner occupied homes, and the bare minimum safety standards for rentals. IF someone wants to rent a 10x10ft cinderblock cell to live in, they must really be struggling, so why the hell would we want to make things harder for them.