The housing crisis in this country is caused by low supply and high demand: simple economics. The only issue is there are plenty of houses in this country; only more and more of them are being bought up by wealthy individuals and major corporations who then rent them out for profit. This business tactic is sucking houses into the pockets of wealthy individuals who have more than enough, and away from the newly-wed couples who have been working for 10 years saving up for a home. A solution could be to place higher taxes on individuals/companies that own more than one home. This may drive some of these real estate investments to be liquidated onto the market, therefore increasing supply and easing demand. I’m no economist so just shooting here. Let me know what you think!
Housing-Department Economy