It's insane to me that my hometown of 1M people in Brazil has more tall apartment buildings than Philadelphia, with incredibly better amenities.
We own a single family home and it kind of make me feel bad. We rarely use our yard, it is just maintenance for no good reason. Inside the house, we have also so much useless space, just costing money to heat or cool it.
Would you mind sharing what the amenities are that you are referring to--both the in-building and neighborhood amenities? In the US I've seen gyms, swimming pools, shared hosting spaces, and some child-friendly spaces, to name a few.
In PHL unless you’re paying big money in a new or refurbished building in center city (and there aren’t that many) you’re out of luck.
Doesn’t help that schools also suck and are heavily segregated, which ended up forcing us to move to the suburbs into a single family home to raise our kids as we knew we wouldn’t have enough money to send them to private schools and didn’t want them on the public system there.
Developers want equity because it is financial security and passive income for them. Regular Joes want it so they don't pay rent in perpetuity; that they may have a place to live in old age without working, among other reasons.
If there wasn't an endless drive to increase the value of homes, this would all be moot.
All my friend's parents that didn't own their homes are completely fucked now that they're old, retired and their pensions didn't keep up with inflation. If you don't own the place you live you're just a rent hike away from the streets.