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I don't think it's fair to put the onus on individual people to move everytime they're priced out of a market, especially a market that has been heavily manipul
by another_story 5y ago
I don't think it's fair to put the onus on individual people to move everytime they're priced out of a market, especially a market that has been heavily manipulated to benefit the few via lower interest rates and poor zoning laws.
You could see this housing crisis coming from years out and the government did nothing but maintain low rates, block multi-unit zoning changes, and allow the wealthy and foreign investors to buy up housing.
The real issue is poor and inept leadership.
- dzhiurgis 5y ago> The real issue is poor and inept leadership. I'd guess something like 90% of governors are property investors.
- flyinglizard 5y agoLow interest rates benefits everyone who takes mortgage and in fact makes (leveraged) investment into building more properties a no brainer. There is no bad guy here, just individuals displacing other individuals.
- another_story 5y agoAnd it doesn't benefit the working poor and younger people who can't afford a down payment. It's not individuals who are keeping rates low.