With more collusion occurring in rental markets, home owners are able to extract more wealth from those that do not own homes. Unless something changes in supply (of which current owners will not want) then 'get used to not buying homes' is really what's being said.
I hear you, it's not a good place to be in (I've been renting my whole adult life). If people can't or are unwilling to swallow that bitter pill, perhaps major shifts are coming.
You can get there with social housing through either:
- the Singapore model, rent-to-own via the government
- the Japanese model, housing is a depreciating asset
- the Vienna model, ubiquitous social housing up to mid-tier of the market
Personally I feel like renting or owning a house should be a choice of features, not of financial benefit. Buying a house should be about being able to make it your own (moving walls, redoing the garden, building a shed). On a 5, 15, 30, 60 year timeline, owning and renting a house should come out to the same financial net outcome.
The way to get there is murky to me. I have far too little understanding of the deeper effects government policies have on the real estate market to make even the roughest guess.
