4 ms·
> In poor neighborhoods the rents cost as much as people are able to pay, no more, no less. This is a bit of a tautology. Low-rent housing is usually pretty ba
by strommen 10y ago
> In poor neighborhoods the rents cost as much as people are able to pay, no more, no less.
This is a bit of a tautology.
Low-rent housing is usually pretty bad, so when people can afford to pay more they just move to a nicer place.
As far as I know, the first-time home buyer credit made a tiny ripple in the low-end housing market - where did prices "balloon"?
College education is quite different because the "market" has a massive barrier to entry (in terms of creating a new university).
- VincentEvans 10y agoI am speaking of subprime mortgages. There was this period of time when you could get a mortgage while on disability (which is truly your "basic income" in poor neighborhoods, btw. Everyone has it. There are even specialized law firms that exist around that consumer demand.). The magic price of the house was about 40K - because that's that a person on SSI can get a mortgage for.