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Lib Green thinks Biden is Doing His Best
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this post was submitted on 26 Mar 2024
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the_dunk_tank
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It's the dunk tank.
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There's plenty of houses already. building houses doesn't work if the new house immediatly gets bought by an investment firm that rents it out for 1.5x the areas median income.
The whole thing with investment firms buying up housing as a speculative asset is really only a problem in places like NYC, on the Marco scale they're a drop in the bucket. This is really more caused by upper middle class people who want to drive their home prices up to fund their retirement than it is BlackRock.
It doesn't really matter who is buying the properties and charging more money to live there than people make. It's just an example of how streamlined the process of "just build more houses" being ineffective has become.
We need to build houses but they need to be explicit subsidized lower income housing and then once that hurdle is cleared you need to be able to push back against the corporations that want to buy them AND the 80% of Americans who don't believe people intrinsically deserve a place to live.
I agree that's what we really need to do to solve this problem on the nation wide scale. I do think in the super in demand cities, like LA or Austin, building ANYTHING probably would help a bit because the market is just that restricted.
that's why this society is doomed.