I mean the article agrees with you?
It primarily talks about the unfairness of the current system, the NIMBY problem reducing housing stock and the issue of regulations intended to curb new building reducing the stock of houses so that only the elite and existing homeowners can afford them.
The section on renting/alternatives is mainly just a discussion about alternatives to the current unfair approach and some cases where things work better.
That said the situation in most of the western world is insanity, If I want to buy a house in my hometown (Perth, Australia) I need a minimum 5% deposit + 3-5% stamp duty and the median house now costs 500k AUD.
Median salary is closer to 75k AUD, so you're looking at a mortgage of roughly 6 salary years and a deposit of at least 50k (if you have good credit and no debts).
Edit to add:
A 20% deposit is minimum to not have to pay a 'Mortgage insurance' which gets added to your mortgage to cover the bank if you default and is usually equivalent to the difference between your deposit and 20%.
It primarily talks about the unfairness of the current system, the NIMBY problem reducing housing stock and the issue of regulations intended to curb new building reducing the stock of houses so that only the elite and existing homeowners can afford them.
The section on renting/alternatives is mainly just a discussion about alternatives to the current unfair approach and some cases where things work better.
That said the situation in most of the western world is insanity, If I want to buy a house in my hometown (Perth, Australia) I need a minimum 5% deposit + 3-5% stamp duty and the median house now costs 500k AUD.
Median salary is closer to 75k AUD, so you're looking at a mortgage of roughly 6 salary years and a deposit of at least 50k (if you have good credit and no debts).
Edit to add:
A 20% deposit is minimum to not have to pay a 'Mortgage insurance' which gets added to your mortgage to cover the bank if you default and is usually equivalent to the difference between your deposit and 20%.