4 ms·
Maybe the banks (and gov't policy) are the problem. Easy loans mean people can take out ever increasing amounts of debt driving property values up and up. Peopl
by seiferteric 6y ago
Maybe the banks (and gov't policy) are the problem. Easy loans mean people can take out ever increasing amounts of debt driving property values up and up. People dump all that money and have nothing left to improve or maintain properties (see million dollar+ track homes in the Bay Area). Meanwhile in order to service the ever increasing debt +property taxes, rents are driven up.
- tibbetts 6y agoThe banks are just responding to government policy. To quote the article, the single family homeowners who think of rising property values as a birthright are the problem, along with politicians and regulators who cater to them. The banks are just an instrument.