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In Evicted: Poverty and Profit in the American City by Matthew Desmond, the author shows not only that there is money to be made renting housing to the American
by loosetypes 5y ago
In Evicted: Poverty and Profit in the American City by Matthew Desmond, the author shows not only that there is money to be made renting housing to the American lower class, but also that it is in fact more profitable than renting to their more economically well off counterparts.
This is not because they have more money to part with but because they can be squeezed harder.
The wider concept seemed counterintuitive to me at first but I see various implementations abound in the wild the harder I look. This article shows one example.
- deleted 5y ago[deleted]
- rcurry 5y agoHe cut that corner pasture into acre lots, He sells 'em owner-financed strictly to them that's got no kind of credit, 'cause he knows they're slackers and they'll miss that payment, then he takes it back. - From Choctaw Bingo, by James McMurty.
- RJSquirel 5y agoGood ol' Uncle Slayton.
- stefan_ 5y agoSee also: subprime car loans with remote disabling devices, payday loan apps that message your contacts.
- analog31 5y agoSomeone I knew in the used car business told me that it was not unusual for a single car to be sold and repossessed multiple times. Each time, the dealer pocketed the down payment, which was typically more than they had originally paid for the car.
- csdreamer7 5y agoJohn Oliver did a segment on this.
- architectonic 5y agoLink please?
- Mitzi 5y agoNot sure if the parent meant this but here is one, starting at around 7:05. https://www.youtube.com/watch?v=4U2eDJnwz_s https://www.youtube.com/watch?v=4U2eDJnwz_s
- csdreamer7 5y agoIndeed I did.
- imtringued 5y agoSome trucking companies require you to lease your truck. If you get fired before you paid off the lease you dont't get to keep the truck. Barely anyone stays around long enough and if they do the boss can just fire them before the lease ends.
- sixothree 5y agoBeing poor means being powerless. In every single situation you might find yourself in.
- torginus 5y agoWhat I don't get is usually the poorest part of the population is the biggest recipient of financial aid - which means. The government has a direct incentive of going after these people, why don't they do it?
- ttfkam 5y agoThey're called Republicans and Libertarians. (And yes, monied interests have Many Dems in their back pockets as well.)