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This feels like attacking a symptom, not the cause. Housing and real estate across the board have been bought up by private corporations -- including housing th
by NuSkooler 2y ago
This feels like attacking a symptom, not the cause. Housing and real estate across the board have been bought up by private corporations -- including housing that they then turn around and Airbnb. This has plagued the housing market in general, and of course, Airbnb.
Airbnb itself is/was still great when you can find a private owner leasing out their extra/summer/whatever home.
- stainablesteel 2y agoyeah, i don't want to sound like a communist but there really is something wrong with allowing corporate and foreign investments to flood local housing markets. individuals and families can't compete with them and their continued competition makes that even worse. plus downstream its affecting the birthrate, people want to have families.
- NuSkooler 2y agoThis effects small businesses as well: These large mega corps buy up huge chunks of land and plan the entire thing from housing (which of course comes with their tight and pretty unregulated HSA) as well as slots pre-planned for particular businesses. Here in Utah you can drive across the entire Wasatch valley and see a repeat "stamp" of this crap every 10 miles.
- davidw 2y agoIs it zoned for anything but large swathes of housing? Is it legal to build corner stores or is it impossible for those places to adapt once they've been built? https://www.neighborhoodworkshop.org/blog-posts/as-post-covid-small-business-struggles-acus-offer-a-viable-solution https://www.neighborhoodworkshop.org/blog-posts/as-post-covi...
- lukas099 2y agoI think it's more of a symptom than a problem itself. It's too difficult for mom & pop developers to build things anymore, but the large companies have the resources and scale to do it. And investors know that localities are intent on making housing a good investment, so they invest in it.
- NuSkooler 2y agoExactly
- stainablesteel 2y agoim not sure what you're saying, it sounds like you're referring to the building process rather than the buying process
- lukas099 2y agoBoth actually.
- carlosjobim 2y agoWhy is it bad when corporations do it, but not bad when individuals do it? Both ways means there is a young person from the community not being able to find a humble place to buy or rent.
- davidw 2y agoPeople want a far-off bogeyman rather than to look deeper at causes and solutions.
- NuSkooler 2y agoTotally agree that individuals buying houses just for the sake of renting them out is also a problem. Renting out your legitimate 2nd home, I don't have a problem with.
- ryandrake 2y agoWhat is the difference between a "legitimate" 2nd home that you are renting and one you bought for the sake of renting?
- davidw 2y agoThis 'institutional investors' thing is a symptom, not a cause: https://www.strongtowns.org/journal/2024/2/21-going-after-corporate-homebuyers-good-politics-ineffective-policy https://www.strongtowns.org/journal/2024/2/21-going-after-co... https://www.theatlantic.com/ideas/archive/2023/01/housing-crisis-hedge-funds-private-equity-scapegoat/672839/ https://www.theatlantic.com/ideas/archive/2023/01/housing-cr...