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I feel like there should be a difference between "rent" and "mortgage rent" (programming.dev)

submitted 8 months ago by danhab99@programming.dev to c/chat@beehaw.org

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Since the housing market looks like a crowd of people just signing mortgages as fast as possible just to then turn around and charge that mortgage plus a little bit.

I shouldn't pay someone's mortgage like seriously this is just adding an unnecessary problem to the real problem of "living somewhere"

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[–] blindsight@beehaw.org 15 points 8 months ago (1 children)

The piece I don't understand from this idea is: who will pay for the investment in building the housing, then?

Communal co-op housing is likely a better model, but it only works with government-subsidized low-interest-rate loans. Without those programs, who's going to put down the $500K it takes to build the home in the first place?

Until our capitalist system changes, I don't know how to square that circle.

[–] frog@beehaw.org 11 points 8 months ago

Social housing is where it's at! Local government builds the houses, and maintains ownership of them, but rents them out at what is essentially a relatively nominal figure that covers maintenance, admin costs, etc. Everybody that needs a home is guaranteed to get one, and the tenancy is guaranteed to last as long as they need it.

There are many European countries where social housing works very, very well, without those countries not having capitalism. It just requires governments that can be held to account when they don't provide enough housing. This is why social housing floundered in the UK compared to other European countries: a rigged voting system meant it became harder to evict the pro-landlord Conservative party.