Must the government subsidize homeownership?

The government should subsidize homeownership because currently, real estate prices are higher than the median income of most city dwellers. The government could provide tax breaks to developers and assist them in constructing affordable housing. 

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Yes, the government should subsidize homeownership, because things are getting out of hand. During the 2008 recession, both housing prices and incomes fell because of bad financial practices by banks and property owners. Fast forward to 2020, and the real estate market is back on its feet. Employment has also...

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Yes, the government should subsidize homeownership, because things are getting out of hand. During the 2008 recession, both housing prices and incomes fell because of bad financial practices by banks and property owners. Fast forward to 2020, and the real estate market is back on its feet. Employment has also gone back up. Unfortunately, the real estate prices have gone higher than the median income of most city dwellers. It is estimated that on average, most Americans spend at least fifty percent of their income on rent or mortgage repayment. Interestingly, developers continue to invest in new housing projects every day.

The government needs to provide tax breaks for developers so that they can lower housing prices for people. Currently, there is a housing shortage because people cannot afford to own or rent houses in prime areas. Most of them have to commute from the suburbs outside the city, which is expensive and wastes time. Alternatively, the government could form public–private partnerships with developers for the construction of affordable housing. In this scenario, the state government provides the land for developers. The investor then constructs and collects rent until they get returns on their investment. Alternatively, the government could offer developers direct subsidies on building materials so that once the project is done, they can make the housing units more affordable.

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