Let's Admit We Hate Affordable Housing

Thank you to Bilt for sponsoring this video! Start earning rewards on rent right now when you sign up at https://biltrewards.yt.link/yfwBvVA Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://www.howmoneyworkslibrary.com/ ----- My Other Channel: @HowMoneyWorks @HowBusinessWorked Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images 📩 Business Inquiries ➡️ [email protected] Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #housing #realestate #money ----- According to research from the National Low Income Housing Coalition, in 2024 there were only 2 counties in all of America where a full time worker on local minimum wages could afford to make rent on a modest 2 bedroom apartment. For the sake of rounding things out, the most recent update from that same report found that there were now NO counties that would be affordable… Even for people on significantly higher incomes the dream of actually owning a home (even one that comes with a lifetime of mortgage commitments) is seeming increasingly out of reach. The median first home buyer is now almost 40 years old, and that doesn’t even account for the people who will never own a home at all. Businesses and the government have seen this problem and attempted fixes like 1% down payments (and most recently) 50 year mortgages to try and stretch budgets peoples personal finances until they can squeeze into the property market, but as almost everybody is aware by this point, these “fixes” have only made home prices even worse. With so many regulatory own goals, it does raise the obvious question. So much of our collective wealth, retirement planning, and industry depends on selling increasingly expensive buildings back and forth to one another, (that is before they fall apart)... SOOO, the question is, especially amongst the groups that really make these decisions… Do we actually want affordable housing?