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radivojevic ,

Kill the billionaires who horde homes.

Ban, and jail, participation in price fixing systems that most people use, especially apartments, to price their product.

Kill the billionaires.

Put caps on resell values of 5% per year to stop flippers.

Again, kill the billionaires.

Set maximum rent increases to 5%.

Kill the… etc.

JPAKx4 ,

media1.tenor.com/m/…/hypnotoad-futurama.gif

____ ,

Billionaires and rent-seeking companies. There are at least three national companies I can think of who are hoarding single-family homes in major cities and renting them out.

Generally they purchase at scale via REO scenarios, and provide no value whatsoever while driving up prices drastically

One example is a company called “Progress,” no better or worse than the others but with a meaningful web presence if you’re curious.

radivojevic ,

Maybe we should progress on Progress.

JoMiran , (edited )
@JoMiran@lemmy.ml avatar

Kill the billionaires who horde homes.

It isn’t the billionaires, it is the funds the billionaires and multimillionaires invest in. I have seen these funds buy under-privileged neighborhoods almost in their entirety in less than a year. They replace the cabinets with builder grade stuff they buy in bulk, same with the carpet, a few.light fixtures and a coat of paint (maybe $5k investment) and they rent them out to working families. A neighborhood goes from ghetto to starter within two years, but rents go from ~$800 to ~$2200 as well. Also, those homes will never be within reach for anyone looking to purchase.

radivojevic ,

Well, of billionaires who invested in these funds found themselves with fewer fingers, they might reconsider their investments.

NateNate60 ,

Whatever happened to public housing? City governments should start getting into the development business and light a fire under these greedy mfs with $200,000 starter condos.

BigDaddySlim ,
@BigDaddySlim@lemmy.world avatar

Most places it’s severely defunded or mismanaged. In my town the waiting list is extremely long, housing was limited for years before the recent housing crisis and for some reason they don’t even follow the list of people they have waiting, they skip around. There’s public and section 8 housing that sits vacant for months or years even though the list of applicants is a mile long.

return2ozma OP ,
@return2ozma@lemmy.world avatar

I wish we had social housing like in Vienna

youtu.be/41VJudBdYXY

pelletbucket ,

https://lemm.ee/pictrs/image/f31cdd5d-3e9e-48e9-8d46-7fa05a8c4d78.jpeg

omgitsaheadcrab ,

Salaries in the US are a bit mad though, so it’s mostly inflation surely?

rockSlayer ,

No. Wages have remained stagnant and actually have gone down. The median salary is $74k, and remember that half of people in the US make less than that. 62% of Americans can’t afford to buy the cheapest house in the cheapest state for housing.

Death_Equity ,

To clarify, $74k is the median household income and not salary. Median salary in the US is $37k. Median salary in California, where half of the cities mentioned in the article are, is just shy of $40k.

sunzu ,

I am pretty sure those are pre-covid numbers.

median is now like 45k. still unlivable in most of the country tho.

Death_Equity ,

My numbers were from 2022 census. Estimates put US median at $59k and California at shy of $85k for household.

sunzu ,

Estimates put US median at $59k

Maybe for full time employed adults between ages 25-65

NateNate60 ,

If you live in the cheapest state, your salary is probably correspondingly low

sunzu ,

That's the beauty of the system, it does not matter if everybody makes more money, the orphan crushing machine will extract everything they can from bottom 60% and the government enables it.

eran_morad ,

From the bottom like 90%, but yeah.

sunzu ,

30% between the two is the mythical middle class and the most notorious of the bootlickers.

omgitsaheadcrab ,

It doesn’t take much to find plenty of people on Reddit talking about how they make 130k a year as a Walmart truck driver. Or the hordes or software engineers with 300k salaries, grads starting straight out of uni with well over 100k.

There is definitely inflation, the corresponding salary increases just don’t seem to be across all industries.

thurstylark ,

Not to mention across demographics. Plenty of people don’t use Reddit for reasons of taste, time, or simply access.

Plus, there’s definitely a bias towards bragging about ones high salary (whether real or imagined). Not a lot of us who are struggling like to broadcast exactly how much we’re struggling. It fucking sucks, and the majority of our lives are spent dealing with that fact.

You’re operating on anecdotal evidence in a heavily biased context. This is why you’re getting the downvotes you deserve. Get your head out of your ass.

rockSlayer ,

So anecdotal stories are more important to you than statistics from the US census bureau? For the record, the department does more than send out a survey every 10 years; the survey is like a recalibration for their statistics.

There are 3 primary factors contributing to the housing crisis:

  • Inflation
  • Low wages
  • Housing being treated as a commodity stock

These 3 issues aren’t the end of the story either, the opiate crisis, climate change, exclusionary politics, and many other factors are contributing to the housing crisis. The primary issue is that workers aren’t being paid enough.

Carvex ,

I work for a small private employer in rural America, in a field where there are no other places to work at without moving. I haven’t had a raise above inflation rate since covid, technically I’m making less money than years ago. Everyone here is fighting each other to take more of that 1% of the wealth we all have to share. Our government is complicit and backroom-contracted into keeping money in the wealthiest hands. A politicians vote isn’t even that expensive.

Codilingus ,

For real, I remember reading that all it takes for Ted Cruz is like $10,000.

SpaceNoodle ,

Have you had raises at inflation rate?

radivojevic ,

Mad? You mean not relative to inflation because they are LOW?

eran_morad ,

Fuck is you talkin bout? Let’s say you have a couple making $100K each, with two kids. Good salaries, maybe even a bit “mad”. You think they can afford childcare and a $1M home?

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