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It's just business
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this post was submitted on 30 Jan 2024
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Here is the thing North Americans love single family homes.
How would you know, North America is literally missing the opportunity to have new development of things other than single family houses or apartment big buildings, bet you there would be a lot of demand for midrises, row houses, mixed neighborhoods in general
Row houses maybe, but there's an adversity to condo fees which usually come along with every other source of housing. A lot of people want to feel like they own their home outright, so that once their mortgage is done being paid off, all they need to worry about is the hydro, water, and property taxes. There's a lot of stories about condo groups doubling condo fees that put others off those types of places.
I feel like every single family home has HOA dues, these days, so that comparison is kinda moot. Whether it's condo fees, HOA dues, or the local cartel extorting you for protection, you're gonna get nickel and dimed.
Narp. I wouldn't buy a house in a hoa ever again, and haven't had issues finding the last two I lived in (in both large and small markets).
Both are true, she point is those with the single family homes now wont get out of them
Developers in my city are building apartments like mad and filling every single one of them. The common council finally opened up zoning for row housing in the past year.
In Charlotte, NC where I last lived. They were building apartments like crazy, but all "luxury apartments" and charging $3-4/sq ft.
$1850/month for a 600sqft apartment wasn't really sustainable for a lot of people.