Good urbanism should transcend politics. Socialists and capitalists can walk the same neighborhood and agree it's a pleasant place to live. They can each appreciate the tree canopy, the corner café with people spilling onto the sidewalk, the mix of ages on bikes and on foot, the architectural details of older buildings, and so on.
Riccardo and Simone Bertagna bought a 25% stake in a property valued at 440,000 through a housing association, feeling proud and accomplished. However, they later faced significant issues, including rising service charges and maintenance problems, which left them feeling trapped in an unsellable home.
People often use condo as a synonym for apartment, but it refers to a particular arrangement: Residents own their unit and share possession of their building's common areas and the surrounding property. Thanks to their efficient use of land, condos cost significantly less than single-family homes in nearly all major cities.
The cost rose a lot following the pandemic. And some of that was supply chain issues that really increased the costs, and then they didn't quite come back down. And now tariffs are also impacting some products. These costs are part of the reason the amount of new rental housing stock is shrinking.
My friends and I are early 30s professionals living in one of America's most expensive cities and making middle-class incomes. None of us can afford to buy or save for a home here. We all rent, but we're not broke. We save for kids and retirement and illness, but a home isn't in the cards. But recently, we think we might have found an unconventional loophole.