Millennials are buying homes with friends by Tom Jones 5/17/24
"...A larger share of millennial homeowners have teamed up with friends...to purchase homes — a trend that housing experts predict will continue amid affordability issues in the housing market and the growing number of single Americans. Ten percent of millennial homeowners have purchased a home with a friend, and 7 percent have bought one with a relative other than their domestic partner or spouse.
...“Affordability is probably the key reason to do that, as well as the types of homes that are available for sale,” Dr. Lautz says. “We traditionally have seen that the most popular type of home purchased is a detached single-family home because that’s the type of inventory that we have in the country. That allows enough space for two people to live independently within that property.”
New Housing Slows Regional Rent Growth: NYU Researchers
Multifamily Dive - December 4, 2023
“Another positive effect of new market-rate housing, according to this study, is the “chain effect” — the movement of local residents into new units, which frees up older and less expensive units for other people to move into.”
New Housing Slows Regional Rent Growth: NYU Researchers
Multifamily Dive - December 4, 2023
“Another positive effect of new market-rate housing, according to this study, is the “chain effect” — the movement of local residents into new units, which frees up older and less expensive units for other people to move into.”
Chris Richardson has always been the economists of the status quo.
Migration is not the issue. The issue is that housing has become the main storage of wealth over the past 40 years.
And wealth is not taxed properly in this country.
Yes, we need to ditch the stage three tax cuts but we also need to fix the disastrous Howard and Costello negative gearing and capital gains tax concessions.
Until we have the political will to tax wealth properly, we are going to keep having a housing crisis.
Along with the ongoing issues the building industry is facing, including skills and product supply shortages, the episode looks at a dodgy Sydney-based development firm the corporate regulators haven't touched.
"Dyldam was once a towering force. Its apartments still line the streets and light up the skyline of western Sydney.
"But for more than a decade, the Dyldam group has left a trail of misery behind it that includes bankrupt businesses, unpaid taxes, tradies denied payment for work they've done, suppliers ripped off, and anguished apartment buyers stuck with defective buildings — one built so badly it posed a hazard to human life.
"Time and again, a litany of potential law-breaking has been identified by those brought in to clean up the mess left by busted Dyldam companies.
"Yet, for years the corporate regulator, the Australian Securities and Investments Commission (ASIC), took no action."