> there would be no options other than home ownership or homelessness
There are also extended-stay hotels. But other than that, is near-universal home ownership such a bad thing? What's the big difference between paying a mortgage and paying rent? Rent already pays for mortgage, repairs, and maintenance anyway. All that's left is closing costs when you move.
How can someone on minimum wage own a home? Even if home values dropped by 90% nationwide, there would still be people who can’t afford to buy one. What are they supposed to do, live in tents? Come on, be serious.
Roommates? Co-ownership? A higher minimum wage? Permitting smaller houses?
Keep in mind the median housing unit price today skews higher because things like studios and SROs never go up for sale. SROs are effectively illegal to build in many cities today.
There are also extended-stay hotels. But other than that, is near-universal home ownership such a bad thing? What's the big difference between paying a mortgage and paying rent? Rent already pays for mortgage, repairs, and maintenance anyway. All that's left is closing costs when you move.