689
submitted 11 months ago by sandro_linux@lemmy.ml to c/worldnews@lemmy.ml
you are viewing a single comment's thread
view the rest of the comments
[-] givesomefucks@lemmy.world 205 points 11 months ago

The reason for high cost of living in cities was that's where the offices were...

Now we don't need offices. So convert them to apartments to lower housing costs in the short term, and telework means people won't move to cities as much in the long term.

This is actually a good idea...

But the White House initiative will make more than $35 billion available from existing federal programs in the form of grants and low-interest loans to encourage developers to convert offices into residential.

Developers will do this anyway if the offices are empty, why not use that money for a government program to guarantee down payments of first time home buyers?

The developers are doing fine, it's the average American that's struggling, stop funneling money to the people who already have a shit ton of it, trickle down doesn't fucking work

[-] ComfortablyGlum@sh.itjust.works 70 points 11 months ago* (last edited 11 months ago)

if the offices are empty, why not use that money for a government program to guarantee down payments of first time home buyers?

The Biden administration is doing that also, it just doesn't make as good a headline.

https://www.whitehouse.gov/briefing-room/statements-releases/2023/10/16/white-house-announces-new-actions-on-homeownership/

[-] givesomefucks@lemmy.world 19 points 11 months ago

Always happy to be pleasantly surprised.

Even tho it's half what developers are getting, it's better than nothing.

load more comments (31 replies)
this post was submitted on 28 Oct 2023
689 points (96.1% liked)

World News

32137 readers
1222 users here now

News from around the world!

Rules:

founded 5 years ago
MODERATORS