How would you fix the housing market for younger generations?

The cost of land, materials and labor required to build a house is more than most people can afford. I’m not sure the large single family houses that are currently being built are sustainable long term unless they increase mortgages to 50 year terms.

I think taxing land that is under-utilized would be a good start in incentivizing land owners not to sit on vacant land for decades, enjoying their appreciation at societies expense. I also think we need to reset our expectations for homes. Not everyone can sustainably have half an acre with 2000 square feet and a 3 car garage. Townhomes, condos, and smaller lots/houses are more economically sustainable. I believe most other countries around the word have significantly smaller houses/garages than the USA, and probably for a reason.

/r/personalfinance Thread