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Those TV shows where they buy cheap houses then sell them for more money basically just taught everyone how to make it impossible for poor people to afford a house. amirite?

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Nickyikkys avatar Money & Economics
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I don't know, I think the original poster is correct, but ultimately the topic is too complex for me. Here's a nationalgeographic article that talks about both sides of gentrification. In the end, I really don't know and more importantly cannot know with my current knowledge.

https://www.nationalgeographic....entrification/

vegans avatar vegan Yeah You Are +7Reply

Yeah, like Blackrock was watching those TV shows

They don't even do any actual fixing, they just turn a deathtrap into a very pretty deathtrap.

No.

What happened was that after the Bush Depression of 2007 big players started buying up thousands and thousands of foreclosed homes. Even a minor player like Sean Hannity owns over 800 places.

This means that a vast number of homes are in the hands of people who have no desire/need to sell them. they would much rather rent the places than sell.

That's the problem.

Shiny244s avatar Shiny244 Yeah You Are +5Reply
@Shiny244 No. What happened was that after the Bush Depression of 2007 big players started buying up thousands and thousands...

That a problem for sure, imo, the problem is the cost of your average house is 10-12 times more than the average wage, rather 3-4 times like it was for our parents and grandparents.

@monsterallergies That a problem for sure, imo, the problem is the cost of your average house is 10-12 times more than the...

Which is also misleading, because the average home now is much, much bigger than our parents and grandparents homes and have many more systems. In 1950, the average home size was 980sqft. Today, that would almost be considered a tiny home and the average home is 2,500sqft.

@Shiny244 No. What happened was that after the Bush Depression of 2007 big players started buying up thousands and thousands...

But none of these players represent a major share of the market. They're all price takers

The problem is America uses zoning and land use restriction in general to jack up the price of housing. It's great for the upper middle and upper classes, but bad for society as a whole

Tldfonats avatar Tldfonat Yeah You Are 0Reply
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