I said it earlier, why sell affordable housing when you can just keep it as an asset and get free money monthly. The Housing crisis is not a demand side problem.
Never was it is a combination of greed and capitalism.
Allowing large corporations to buy up thousands of homes is one thing that needs to end.
The media and the fed keep saying that housing prices will also fall with their interest rates hikes, which is strange since all their rate hikes can do is lower demand. I think they’re lying to justify their rate hikes that keep their hoards of wealth competitive to or ahead of foreign dollars.
All the interest hikes will do is continue to make it impossible for lower and “middle class” from owning a home.
I wouldn’t be surprised if they just make owning illegal. Sure there a lobbyists out there with that goal in mind.
Once again, if you don’t live in the house you’re short term renting — it’s not a “B & B”. It’s a hotel. Cities need to wake up and start taxing, regulating, and fining hotels that aren’t abiding by zoning and safety laws.
