this post was submitted on 30 Jan 2024
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That doesn't mean everyone (or people who needed it) have the ability to purchase it. The down-payment is simply too high that most people who want a house cannot afford it.
This is the same as scalping other goods, they have a unfair advantage in the market, and then they can make back all their money via rent and selling the house. They have nearly no way to lose in this game.
The unfair advantage is what making people angry; they are not making money by labor, insight, or even luck. The only reason these people are becoming richer is because they started rich.
I absolutely agree with your solution BTW, just arguing that people scalping houses are very much brain-dead scalpers. Many of them probably don't even care about the basic human right to shelter.