this post was submitted on 13 Sep 2024
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Another valuable life lesson from Elmo and friends! (lemmy.world)
submitted 6 days ago by [email protected] to c/[email protected]
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[–] [email protected] 1 points 4 days ago (1 children)

So the point you kept missing I'll throw you a bone man.

Someone can afford the home you're in. This "strategy" is only effective if everyone's on board. Otherwise a new family will be in there on the heels of your feet.

[–] [email protected] 0 points 4 days ago (1 children)

Someone can afford the home you’re in.

I've got half a dozen units on my block that are selling above the clearing price. They've been vacant for years. This is speculative real estate. The only people who can afford it are the developers and investors looking to accumulate housing stock on the gamble that someone will be able to pay the markup at some point in the future.

[–] [email protected] 1 points 4 days ago (1 children)

We're talking about rentals, dude. If the families could afford to buy, they wouldn't need to pay rent.

[–] [email protected] 3 points 4 days ago (1 children)

We’re talking about rentals, dude.

We just had a major rental catrelization scandal, by which landlords collaborated to keep vacant units prices above the clearing rate to deny their tenants anywhere cheaper to move.