• 0 Posts
  • 20 Comments
Joined 2 years ago
cake
Cake day: July 1st, 2023

help-circle

  • I’m not a landlord. And you’re just incorrect. This is no stupid questions, but there are plenty of stupid answers. The great recession was caused by homeowners and banks making loans they shouldn’t have with adjustable rates and predatory practices (ever heard of a NINJA loan?) that greatly increased demand for housing, and then the banks created derivatives on derivatives that all went up in smoke when the underlying loans defaulted. This resulted in many people losing their homes, but more broadly financial markets tightened and housing starts plummeted, which is responsible for the housing shortage today. We had like 5-10 years of development well below replacement.

    I would also point out that most local zoning laws make multi-use housing like apartments that we lust for in the 15 minute city difficult to build in favor of the single family home. I would argue that is actually the average homeowner’s fault more than a landlord.

    “The alternative to landlords is not everything being government housing, but also that’s not an issue if you take away landlords and stop them from having any power…”

    What the actual fuck does that mean? Do you hear yourself? The alternative is not the thing I said, but something else that still remains imaginary.

    You know housing costs money to build right? So, for that to happen, someone has to invest. There are these institutions called banks, maybe they haven’t made it to lunatic Island where you live, but they charge interest so you can have money today to build or buy rather than waiting years to accumulate that money.

    Now that housing is built, the person that built it wants to sell it. Someone buys it and then someone lives in it for a cost. Without government intervention, what is the alternative?

    The problem is not OP’s Aunt or even most apartment management companies, but I will give you that Private Equity getting into single family housing is a problem. That should be addressed, and I seriously doubt it will.





  • The word you’re looking for is etcetera. And unless you plan to return to community banks where you have to get to know the local banker to get a mortgage, you need this system.

    I’m not sure how tying this to capitalism makes sense…lending is a risk, they are betting that you’ll remain employed and will continue to pay them - there is a chance you won’t and you pay a premium to get money now. Communist countries also have this system, but it is more centrally controlled by the State.













  • You’ve missed the mark on two counts:

    1. Musk raised $44B of real money to buy Twitter and bring it into private ownership. I’m saying had he just left well enough alone, he could have used that money for other purposes
    2. Your point on adding more supply to the real estate market to prop up prices is the opposite of Econ 101 - more supply, all things equal, will reduce prices. Mental health is a much larger barrier to receiving help for the homeless.

    I used to volunteer weekly with homeless and housing insecure people in Philadelphia and untreated mental health or substance abuse was an issue for many. There are also barriers to receiving government aid that would assist them because many programs require an address or the process is unnecessarily complicated.

    Housing is just one step. They would also require a great deal of counseling, job training, and medical attention to reintegration into society. Anyway, my point was simply to illustrate what a magnificent waste of resources it was to buy Twitter.