How We All Became Forever Renters
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- Опубліковано 6 лис 2024
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How owning a home became a pipe dream
Owning a home has basically always been as essential to the American dream. But increasingly, owning a home is starting to feel completely out of reach for the average American, especially younger people. So what happened? Are we all just bad with money, or did something in the housing market shift to make home ownership so unattainable? Let's find out in this video: Why We're All Forever Renters.
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=== Watch More Episodes! ===
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Written by Amanda Scherker
Researched by Corrigan Vaughan
Hosted by Helen Floersh
Directed by Michael Luxemburg
Edited by Henry Arrambide
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Music courtesy of Epidemic Sound
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The system is not broken. The system is working exactly as it was intended to. It's just not intended for us.
Yep. These aren't bugs, they're features.
@@saininjp2w dlc
It's not exploitation, it's a pro gamer move.
Being a landlord, poor people hate that trick
One of my favorite lines.
Who would thought that this could become a problem in the future, right? What is next? Young people not wanting to have children because there is nowhere to live with their children, and then an eventual collapse of the market, because there is no one to buy/work?
They will just automate the work so they don't need to replace the labourers with new ones, and then issue credit to everyone so they can take part in the economy. The whole debt industry is just another way to delay the inherent contradictions in Capitalism. There is always a way to kick the can down the road in Capitalism. As long as the profit motive is the central driver of the relations of production, there will be no freedom for the majority of workers.
Its not that we didnt know it was coming
Its that the people who benefitted from it didnt want us to know about it
The crash won't allow renters to buy. The landlords, who have all the cash, will just buy up the now cheaper property by paying more than working people can.
@@wclark3196that and the lack of cash flow to fix a major repair.
I knew of mortgage payments but was blindsided by claims if a pipe bust and a $500 deductible was needed.
That was my first home and nobody told me these things.
That and things like AC fixes are only priorities if you have a renter or are a renter
"That's easy, we'll just remove access to contraceptives and abortions."
If you live in the United States, I strongly encourage you to call your senator and congressman and tell them to support the passage of S.2224 - “Stop Predatory Investing Act.” This bill is specifically intended to remove the tax incentives that make buying up housing so lucrative for corporate investors.
would this encourage them to sell to buy rather then to solely rent? Or to discourage them from buying up the homes in general?
@@tulip5210 Good point
Why would they stop a system they benefit from to an absurd degree?
@@seraphcreed840why give up before trying? 😂 it makes you part of the problem if you’re unwilling to even try.
Thank you for sharing 🙏🙏🙏
Corporate ownership of single family homes should be illegal
Corporate ownership of houses should be illegal period. Houses (infrastructure) are a strategic asset.
And government officials
Same for hospitals and jails. And those aren't changing any time soon either. This country was taken over by greed a LONG time ago. There are more billionaires than ever tho so 🎉😢
On what basis?
@@davidgross9983 I'd argue housing is a strategic asset. It's where the citizens live after all.
Corporations don't own strategic infrastructure. They only lease it and govt. has the right to get control back (immediately in crisis/ war scenario), set prices etc. What good is having power, water, a road and public transport at a location if you can't live in that home because investors from a mega-corporation outbid you? Rich people with wide portfolio can eat their losses for a decade, especially on real estate... chances are very high the bubble keeps growing (has been for decades with few year hiccups) and they eventually make very good profit.
A legion of serfs renting space from their feudal lords. We've come full-circle.
If you become libertarian enough you eventually just reinvent feudalism.
And with venture politics becoming a real threat, corporations will soon create their own tax districts and we *will* be in a neo-feudal world.
Awareness of local politics are the last legal option we have for fighting back.
American Revolution part 2, anyone in? 😂
And then the serfs run out of money and things start to break down (in theory)
@@bwackbeedows3629 they've already done that
The timing of this video is incredible. I have been looking for a house with my best friends for 2 years now and nothing. Also, I just had a nightmare the government kicked me out, and I was homeless. fun times to live
i hope things work out for you
Government 😂😅 My sister kicked me out, and my dad dropped me off. That's how I became homeless.
This is legit happening... Not quite like this; much worse. You end up homeless after a simple car accident can't afford a home. Can't stabilize replacing your car.. in order to get a job to get an apartment. You end up on the street.
Where you then proceed to get drugged by others illegally or give up and just stay constantly drunk. Then you will be proceeded to be shuffled about across the state as nobody wants you to put tents along their highways. Then they'll eventually see you at some druggie who "choose" to be in this position.
Getting exiled almost seems like a blessing. New home identity country.
//(This is actually based on a story at Reddit in Texas)//
Imagine adding kids to the equation. You finally decide to buy a house, have a 2 year old. Now you lost your house, your kid, and your car. All because you couldn't afford 1 car wreck and the doctor bills.
@@nuance9000hope you and OP are safe and well.
@@Gingerfrost Isn't it better to go and live in the wild at this point? You need to work and buy some stuff before doing so, like survival things, seeds, chicken, a van if possible. A community can be created too. Hmm
We don’t discuss enough about the impact of tax cuts. Reaganomics is pretty bad and we are living its legacy.
The other day I had a hard-core "fiscal conservative" chastise me for talking about Reaganomics claiming the policies made by a president that served before most voters were born (not sure about that validity of that generalization but whatevs) could not possibly still have an effect on modern politics and that only stupidly naive and young voters think that. Cuz apparently all policies made during a presidency are immediately nullified at the end of their term. Hence why they blame Biden for the fallout from Trump's term. Of course, the opposite is true during a GOP presidency. All the benefits from the prior term are attributed to the very people that fought against them. United States of Hypocrisy
@@lolalalia4119
It won't take long before these brainwashed people start losing their houses and jobs too. One would hope that they will begin asking questions with 5Ws and H, instead of yes/no questions. You will find among the homeless population conservatives and right-wing nuts who cannot possibly see that the system dragged them there.
Corporate tax cuts. Property taxes rise from home appreciation. Also some home are appraised differently than what they're sold for... So regressive taxation...
@@lolalalia4119 When was the last constitutional amendment pushed through? Strange how those are still relevant. Idiot doesn't understand that all of this stuff builds on top of itself. Reaganomics was like the foundation of our current economy, later presidents have just built on top of it.
@@lolalalia4119 no one ever asked Reagan "how are we gonna pay for that?" yet when the market fails to provide something we need, that's all we hear.
Wisecrack: You'll never own a home.
Also Wisecrack: Here's betterhelp to help you cope with your depression of never owning a home.
The irony that corporations are the reason most will never own a home and then a giant corporation also wants to sell us on "help" for the depression they caused us. We are indeed in late stage capitalism.
And they liked your comment. Your comment is also good for them since you mention the corporation in it. We're the advertisement, the customers, and the ones paying for their greed. Welcome to nightmare stage capitalism. edit: wasn't really irony
Glad I wasn't the only one who noticed the irony lol
If anything, betterhelp is making the situation worse through "Blitzscaling." Displace and undercut existing infrastructure and by the time it collapses, private for-profit institutions are the only ones left. That's how we have private insurance who we pay to so that they can just not pay when they need to.
And we are blamed for being depressed, alone, and living pay-to-pay. Whenever I feel this hopeless and feel like giving it all up, I watch the video by philosophy tube on mental health. Seems to be the only piece of media that thoroughly acknowledges things outside of ones' control, and helps me "give up" some of the self-blame that has been drilled into us by the powers at play
The ability of capital to recuperate critisim is the essence of its grip on society. That's why power is also not going anywhere - some has to overrun the market logic or it will turn land into Land in a moment. Anyway, I like the gesture of liking this comment - a glimpse of a hope that metairony is indeed the shelter for sincerity.
Well, not all mental illness and depression is caused by housing insecurity. There is plenty of trauma all over to cause those conditions. And I don’t agree with the cynical take that this is merely a corporation ironically selling us “help” for what they allegedly caused. I’m not saying systemic hostility that caused housing insecurity by corporations can’t cause depression and mental illness. Because it can and it does. But it’s far from being the sole cause, therefore it’s not entirely fair to generalize as such.
@@YesandsowhutBecause they don't have any control over who their commercial sponsors are, Omnia Media who owns Wisecrack does. At this point, I know the hosts hate the sponsorships (hence why they liked the comment) and are just trying to get by so I have no issues never using Better Help as I have a brain and can differentiate between the two.
I wouldn't be so upset by this new system if it weren't for the fact we can't even rent nice homes by ourselves! It's mind-blowing that millions of Americans work 40+ hours every week, many for more than the minimum wage, and STILL we can't afford decent living situations. I work 50+ hours, I don't splurge, I don't spend a lot on food, I don't have any extraneous bills, or live in a major city, but the best I can get without destroying myself every month is living in a house with 4 other people in a bad neighborhood.
If you pull in minimum wage for 40 hours a week, you should have your own apartment at the very least, but that's such an impossible ask now unless you live in a shack in Mississippi or something.
Then where is all your money going? If your splitting rent 4 ways and your not In a big city your cost of living should be next to nothing. Do you have a crazy car payment or something?
In Mississippi you can buy a house with land for like $150,000 and get a USDA loan with no down payment.
Don't let this hyperbolic UA-camrs trick you. They all want to live in San Francisco or New York and complain that they can't afford anything.
@@TheMysteryDriver I agree. I live in st louis. Got a house for 135k in a A+ school district. I deliver pizza for a living and was only 27 when i bought it. Would have only been like 80k if I didn't buy in 2021 also.
@OrganicGreens "Should be next to nothing." Where are you living? Jupiter? That's literally my point. We're being overcharged for crap living situations. Look into the stats. There's not a single state in the continental US where homes can be purchased on a minimum wage. No cap states are getting out of hand. Houses that used to cost 800/month are now being bought up and rented out for 1000-1500/ROOM. Studio apartments around here can run 1300-1700. My last apartment went from 1200 to 2200 over 3 years. Prices are far exceeding wages for the most basic living situations. And you're forgetting car payment, insurance, emergency costs, food, utilities, and so forth.
@TheMysteryDriver The stats don't lie...it's an issue even in Mississippi. And don't forget that little thing called JOB PLACEMENT. If Mississippi were bursting with great job opportunities and a higher potential for positive life movement, more people would live there, no? It's a very conservative backwoods swamp for the most part and really doesn't hold any long-term value for most people. Hell, their minimum wage is still low. My dad is from Jackson, and I have zero interest in living there. There's no opportunity there. You'd be buying a place to die. You got your swamp house but nothing else to show for it.
It's silly how whenever these situations come up, people assume that populating terrible areas is the solution. The point isn't to find the worst places and populate. The point is that on a macro-scale, things need to change to continue industry, growth, and all manner of social foundations to keep the damn country running. The fact not a single state has affordable housing for minimum wage workers is dangerous and could contribute to even more social ills in the coming years/decades.
I’d like to see a Vienna style solution where the city bought apartments and rents them out at a rate just high enough to cover the maintenance of the building. It’s about €300 per month rent, and it’s not tied to income, so you can get an apartment even if you have a good job, therefore it brings down all rental prices. It’s not just “low income” housing.
This would be fairly simple to implement on a federal level. Just offer preferred rate loans to municipalities that buy or build apartments that the municipality will own.
The government can offer preferred rates. The Fed can offer preferred rates. Both of these entities do this all the time for the corporate world, just do it for this purpose.
a govt can do all those things... if they weren't captured by corporate interests.
The only real issue with this is that it provides another avenue for government corruption/nepotism. This may not have been a huge issue 50 years ago, but living in a post Christian society there really isn’t a strong enough basic moral foundation to make it work.
@@lelandbuerman4025
I understand the issue with corruption, but I don’t think you can avoid corruption as a practical solution. It’s going to be there whether you like it or not. The same argument goes for welfare queens. There will always be leeches in the system.
The best “solution” that the small government argument provides is to put the corruptors in charge of everything, rather than leaving it in the hands of the corrupted. Privatize everything so that the major market players can have complete control rather than having to bribe officials to get what they want.
Isn’t it the free market solution to have real estate markets be free from government control? If there is no control, then what is stopping major market players like BlackRock from just outbidding regular buyers, knowing that those individuals will just end up paying them to live in that house anyways.
At least by putting government controlled housing in the hands of municipalities, you are significantly reducing the scale of the corruption. It’s far easier to change a local corrupt government than it is to change a federal corrupt government. And at the same time you’re putting a competitor in the market to keep those major market players honest in a world of scarce housing supply.
Never in Neo-fascist America
@@lelandbuerman4025 The moment land was stolen and people were killed, morality went out the window. In other words, there never was morality when it came to the government. Ever heard of Hawaii?
Let's also consider how elder care requires you give up your house to the bank to pay for nursing care; specifically and intentionally depriving your family generational wealth, by transferring your assets directly to the hands of billionaires.
Well you can take care of your own parents. By doing this, you will also inherit deep dark generational trauma. It’s a real shitshow watching my coworkers take care of their elderly parents
Yep totally. True we legit had to sell off death plaques/land just so the grandparents could stay in nursing home and retirements. A bit of shocker to learn you will not be buried next to your husband just so you can live. And oh, we can't kill you that's illegal. You will just have to deal with the growing doctor bills and ridiculous numbers. But it's okay, depression pills are here to make you worse.
I'm curious as corporate ownership passes into 60% in the future what will this society look like
@@sherlockwho5714 Check out FL's major cities. Half of the housing is owned by corporations now. We have skyrocketing costs of living, homelessness that would make NYC and LA blush, crime and drug use through the roof. I'm gtfo of this place while the getting's good.
@@SkySong6161 that definitely sucks and I feel like Florida government won't be helpful for the residents
We all became renters when we refused to build guillotines
Apt! i knew i saved this quote for a reason: “Men will never be free until the last king is strangled with the entrails of the last priest.” - Denis Diderot
There's still time... 😉
@@WiSkify yes comrade
Ain't that the bloody truth.
Way things have been going, it's just a matter of the U.S. hitting a critical mass of people who just can't make ends meet despite doing "everything right." Once that critical mass is reached all you need is a spark and heads roll. It's happened throughout history time and time again once material conditions got bad enough for wide enough swathes of the population.
In my mind it all comes back to priorities. Capitalism as a system prioritizes making profit and determines value through "to what extent does this lead to financial/monetary profit?" In many cases things that are "good" in other ways have no value to a capitalist system (until or unless other factors are taken into account, like sustainability).
In my mind it's very much like a game where people are exclusively prioritizing a higher score without asking "...wait...why do I even care if I get a high score?" At a certain point "more wealth" doesn't do a person very much good, but for many the simplicity of a system built on always seeking a higher score is appealing because it doesn't present any challenging questions or complex issues.
In some ways it reminds me of how, in the system of nature and an ecosystem, every organism wants to survive (both as an individual and as a species). The individual typically maximizes their own chance for survival through control (reducing the extent to which chance determines whether or not they survive), and the species typically maximizes their chance of survival by ensuring that they reproduce as often as possible (ensuring that some survive). However, if an organism is "too successful" in the goal of survival, they often kill the ecosystem. At a certain point, an individual that achieves too much control often causes harm to the ecosystem (how trying to prevent its own death often leads to an ever greater cost), and the species that breeds too frequently (and exceeds the healthy population balance) overwhelms the ecosystem's resources and causes a crash.
In my mind, in a similar way, capitalism encourages a kind of "excessive success of the few (or the one)" that (sooner or later) causes the collapse of the system itself (as the consolidating of wealth in fewer and fewer individuals causes the flow of value to become less and less healthy).
Capitalism, in its purest form, is a practice that leads to the death of the system.
this!!
this is also why I recently realized this: “if suicide is a permanent solution to a temporary problem, capitalism is nothing more than a history of stacking temporary solutions for a permanent problem”
@@haydenlee8332 I tend to agree, though often it feels less like "actual solutions" and more like patches designed to "postpone or conceal the problem" for just long enough that certain people no longer care. Like, to me, capitalism often feels like a form of "a few aristocrats achieve great wealth and power but creating a lot of problems, but they make sure that those problems won't affect 'me' until long after they are dead."
In many cases, capitalism and politics (together) seem like a parasitic combination that extracts value from the majority (like a vampire) and then uses that value to distract and misdirect.
I forget where I encountered it but at one point someone wrote or spoke in a video about how one of the most recurring patterns of capitalism is how it uses its gathered power to artificially sabotage any rival economic system.
Much like certain forms of religious zealotry, there's a tendency for capitalism to feel threatened by the idea of any other economic system working (anywhere), so said rivals are often undermined and sabotaged so that they appear faulty and lacking.
Similarly, it's notable how even as capitalism (in theory) often propones competition, most successful capitalist businesses (once they achieve enough wealth and power to do so) maintain their power not by providing better quality but by either buying out or destroying any business that might compete (within their territory).
Much like a phrase from an old video game I'm fond of (Monkey Island), many of the most successful companies in our time succeed through a business model of "When there's only one option available, there's only one choice you can make."
re: high score
Yes, specifically like a crappy old 8 bit Atari game where there are only 3 really boring levels and the game just gets faster and faster until you get sick of playing it or it becomes physically impossible to keep up.
well in a pure capitalist system the government wouldn't bail out large businesses and allow them to fail. I think with restraints or rules capitalism can be good
@@tulip5210 it can be useful, but it can never be "good"
The root of the majority of crime is desperation and insecurity
Financial insecurity
Or more generally, poverty.
People who Have no morals and do not value human life effect us all at the bottom and the top.
Are you talking about in America or in general?
And the root of all politics including class-based politics boils down to Land/Physical space at the end of the day....ua-cam.com/video/AtdqBU-r8P8/v-deo.htmlsi=5s31uDCyBYDtyajG
Housing is the most important issue of our generation
What about the climate?
@@Marz2727 In a way those issues go hand in hand and the climate will exacerbate the issue of housing
Housing, the climate, and healthcare, I'd say. Three issues that have become politicized because they will cost the big bad corporations money if we actually address and fix them in a way that is best for the average person and not the average rich white guy.
Housing and healthcare are cultural issues. Climate change is not. A hundred years from now, they'll be talking about climate change and grandma growing up during the Great Recession.
The most nefarious part about housing though is how much value is attached to high-risk climate change areas.
Like who thinks a home in Florida or California is a good long-term investment for fixed 30-year mortgage? Good luck finding insurance... Let alone affording insurance with a million dollar mortgage.
@@Marz2727 Companies like Blackrock spend a lot of resources and attention on climate change so that people+politicians are distracted from what they're doing. the new feudal lords will do "greenwashing", the new tenements will be "sustainable"
A very close friend of mine (we are jn our 50s) inherited 3 houses a few years ago. She rents them out and is delighted she no longer has to work because of “passive income.” The rents are so high she profits enough to pay the mortgage on the home she lives in (in LA, no less) plus live well, AND pay property managers to deal with the tenant issues like rent collecting and repairs.
She was insulted when i told her she now supports herself by being a literal parasite.
But she’s also into crypto schemes and fasting/urine therapy (yes, literally drinking your own piss) these days too, so…you know
Whose in their will!? Cause we gotta talk to them
@@runningbetweenspaces she has an older teen daughter and a 10 year old son. So you and me aren’t in line
I’m 11 years in on a 30 year mortgage i struggle the 15th of every month to pay. in a crappy little house in NJ that is a castle to me, because at least no corporate scum slumlord is forbidding me to have pets, or a garden in or fence around my yard
The problem aren't normal people renting houses. She got lucky good for her. The problem are corporations institutionalizing renting and squeezing as much as they can and monopolizing whole areas.
@@MissMoffet19 The corporation is the greatest problem, but the ease with which people accept this mentality as "just good business" and not the evil, vampiric behavior that is is also a problem. Basically, this type of person looks at what the corporations are doing and is jealous that they can't be that exploitative rather than realizing how shitty they are. She has the option of selling those homes to occupant-owners and then investing that money into other ventures, but she chooses not to because this is an "easier" investment. Annoyingly enough if she did sell the house and then invest that money elsewhere it would be better for our economy in two ways, by putting more stable housing on the market and putting more investment money out into businesses. As it stands now, that capital is just being horded.
@@MissMoffet19I somewhat agree. The big problem isn't that people like her are parasites. They still are, tho. It's that the system encourages parasites, of which the worst are corporations.
Adam Smith and Karl Marx are surprisingly close to one another on the issue of the landlord class (among a bunch of other issues)
Adam Smith gets perverted and so does Marx.
It’s the same gaslighting with climate change.
All propaganda sponsored by Big Oil, and Wall street
It's kind of funny that the father of modern capitalism even though landlords are useless.
karl marx's developed labour theory of value literally comes from adam smith's early version. he was literally a huge inspiration for a lot of theory that marx wrote about
Karl Marx’s work wasn’t written in a vacuum.
@@ritwik1410 i know ive read capital ... but their shared view of landlords is more directly relevant to the original video. i think a lot of folks would be surprised by how much Marx draws from Adam Smith tbh. even when he criticizes smith in vol 2 he talks about how the "esoteric" smith is right even where the "exoteric" smith is wrong haha
The townhome attached to mine was just purchased by an investor and they’re flipping it. in the meantime they like to come and park blocking the fire lanes, driveways, dumpsters and other public areas inconveniencing all of us who live there. Love it.
When it's in front of the dumpster someone should toss their garbage on top of their car. Oops :)
The house next door was flipped and turned into an air b&b. Not like anything was done to it besides repainting and weeding the garden. They put a new fence in with a nail gun and its already falling apart.
Zoning was briefly mentioned for tenament housing. But its a far bigger reason for lack of affordable housing than corporate landlords and Airbnb. If 80% of urban land only allows single family detached homes to be built, it artificially reduces our access to duplexes, cottage style condos, and other 'missing middle' housing solutions.
Exactly.
A home doesn’t have to be a duplex or apartment to be affordable. Smaller 2 bedrooms homes or open floor barn style homes can be built cheap. Arguing that people be shuffled into homes attached to other people’s homes is not a solution.
@@thepain321there are many of us who enjoy apartment style living and there is huge demand for it. The problem in a lot of the US is that you literally cannot build ADUs, Small, two or three family houses, etc. It is a major problem. Single family houses are expensive, and they are always going to be expensive. There is no way around it. For one or two incomes to be responsible to maintain a roof, a foundation, a septic system, and all of these other expensive systems is a lot. Apartment style living offers the possibility of spreading out these costs. The problem is that zoning laws that restrict to only single-family housing literally means that you cannot build duplexes and triplexes in a lot of neighborhoods and cities. But if you build these types of housing, there definitely is demand for it! It's definitely okay if that's not what you personally enjoy, but there are lots of people that are happy to enjoy the neighborhood vibe and the cost saving that comes with living in a multi-family house. Myself included!
You left out that the federal government essentially gives you money (in the form of tax breaks) for property taxes paid to local/state governments. Meaning that the federal government is subsidizing this whole situation.
The whole patronage system of paying suppliers (from an economic perspective) is truly bizarre. It usually starts from a good place (let's pay farmers so that they have a more-or-less constant income stream) and evolves to something grotesque (let's pay gigantic agri-business estates to produce WAY too much sugar/cow food).
Lobbying is to blame, legal bribery in our faces
This year the mileage deduction for business use of your vehicle is up to 65 cents a mile, which means we're all subsidizing Door Dash, Grub Hub, Uber and Lyft. They pay the drivers peanuts and we cover their taxes, while the companies themselves aren't even chartered in the US so they pay nothing.
look up the American corn industry- it's like the quintessential example of your second point
One of the biggest obstacles to home ownership is the cost. You have to have so much for a downpayment, you have fees on top of other fees and if you live in the US almost every home is now part of a Home Owner's Association that you have no choice but to join and will charge you even more fees.
Also, most people can't afford even a basic home do the skyrocketing property costs and the fact that most poeple don't even make enough to be able to afford a proper apartment let alone a home of their own. it's just one more way in which our society has returned to a feudal system of society where there is basically only the rich and the desperate poor.
Even if we had another market crash, most likely big home development companies or property management firms would buy them up and hold onto them until the market recovered. The system is designed to prevent people from ever getting ahead.
Unless you get a FHA or USDA loan.
@@TheMysteryDriver Those aren't easy to get and loans always come with interest rates which typically send people drowning in debt. Loans are not the cure people think they are. Look at the student loan crisis for proof enough of that.
It wasn't always this way, back in the 50's and 60's a person could work a job and be able to afford a house, a car and a decent life on a one income salary.
We taxed the rich at a decent amount and we had more jobs and still had innovation.
Now we have a rigged system where the rich just keep getting richer and the poor are locked into poverty on a generational scale. And it's why so many aspects of our society are crumbling as a result.
@StephenLeGresley, you can also thank women entering the workforce. When two-income households became the norm, people had more money to spend, and the market adjusted by raising prices to what it could now sustain while staying in business. This meant that single-income households are essentially phased-out. It's basic supply and demand taught in the first few weeks of most economics courses, but this particular tidbit is usually glossed over.
@@Alias3141 Actually in the 50's and 60's there were still mostly single income households. Even into the early 70's there was still a lot of stigma surrounding women in the workforce.
@@StephenLeGresley I didn't say it was immediate. I said it was when two income households became the norm.
“As someone who plans to be extremely wealthy despite no monetizable skills or inheritance, I think we should bow down to our landlord overlords and change no laws as I’m only temporarily inconvenienced and will be a landlord soon, once my crypto and NFTs and drop shipping pay off.”
-D-bags
Holy shit! I actually did know that there are more empty houses than homeless people, but not by such a HUGE margin!
Yep…we don’t have a housing supply crisis, we have a HUGE affordable one, b/c we don’t admit it.
I’ve said it before and I’ll say it again.
We need laws that ban the purchase of homes for rental purposes. Landlords can invest in purpose built buildings if they want. But single dwelling homes should be banned from being rented. Any home currently used as a rental forced to be sold. The sale price set by the areas medium income.
Have fun living in a motel for way more on a daily rate if you get your way
That is about the most asinine thing I have heard in several months. Not long ago someone was telling me that Tank Man (think Tiananmen Square) was in no danger because the entire BRIGADE of tanks that he was standing in front of "had no ammo". This is at that level of BS.
I know GOOD PEOPLE who make a living buying older houses. Single, double and triple family units. They fix them up and rent them out. They LITERALLY ARE GIVING PEOPLE HOMES THAT THOSE PEOPLE COULD NOT HAVE GOTTEN ON THEIR OWN. They keep the property in good condition and don't ask for crazy levels of rent.
People such as that make up a HUGE (but declining) percentage of those who own a simple rental property that functions as their income or a part of it. (so many are people who just own one or two additional properties as a means of income)
Get your head out of where the sun doesn't shine. You are killing too many brain cells with the lack of oxygen.
@@whyjnot420”oh but think of the landlords!!!” Lol
@@borginburkes1819Get bent.
@@whyjnot420or they could find an actual job and let ppl buy those homes and fix it up themselves
I'd love to see a social "floor". It's bad enough we don't put a cap on the highest heights of wealth and luxury one can have, but we also don't but a floor on the depths of misery and sorrow we socially allow. You can be wealthy as you want/hustle/grift/straight steal in our current system, but also this system allows people to be in such a freefall the force of friction combusts them.
I would love to see a social "foundation" implemented. Certain social/public pillars of rights and entitlements you get by being a person. Food, shelter, clothing, education, that sort of stuff, the stuff that allow you to be and foster the development of being a person in a society. A level we all collectively say "No one should be beneath this level of existence." That would be rad.
We're supposed to have that. It's a part of human right which are routinely trampled on in our country. The right says it encourages laziness and want poor people to continue to struggle, falling further into generational poverty and the left can't find enough profit to justify helping their citizens survive. Universal healthcare and a social foundation would greatly benefit us as a whole, but the parts in charge will never let this happen.
Fight for rent control
This used to be "minimum wage"
i wish that rental houses had to be managed by people living in the same neighborhood. shit i wish every community could collectively take back ownership of properties that aren’t being managed well. i’ve lived in so many areas with empty housing, apartments and retail space that couldn’t be used because the owner decided to set the prices astronomical and let rats have the place instead. for tax breaks. ugh. ❤
it is time to begin squatting.
@@001101011010start talking to your neighbors. Figure out your local activists groups and research them.
If they don't feel good enough check the local CPUSA, and FDA chapters.
I live in a community where our landlord lives a few #s down from us. They are a lot more strict on various things and the rules on financial stuff is rather strict.
But over all generally okay.
@@seraphcreed840 definitely centralized power can always be problematic
ua-cam.com/video/AtdqBU-r8P8/v-deo.htmlsi=5s31uDCyBYDtyajG
I am genuinely curious, with having to be a "forever renter" how will retired Americans continue to afford to rent?
They won't and that's by design. The massive corporations like Blackrock will own everything and the marxist clowns that serve them are making it happen.
Retirement is simply no longer a viable option in America.
We'll work till we die.
@@lordmalachi6Or until we start building guillotines.
I know too many people who should be retired still working through bad knees, disability and even cancer diagnosis to "make ends meet" or help their children make it.
They won’t. That’s why you pick a job you can work well into your 80s like teaching. Sure the tradesmen can brag about making $120k by the time they’re 35, but they’ll be retiring 20-30 years before I will if I ever do.
I lost my home in 2009 due to all the fallout. I think this reality became inevitable when the government decided to bail out the banks without consequence instead of using that opportunity to codify laws that would protect individual homebuyers from the predatory for-profit mentality that caused everything to topple.
My family was able to get around the GI Bill hurdle. My great grandparents and Grandma lived and worked in the basement of a Catholic school. The Church cosigned their house. Only reason why they were able to make it
Renters for *just* our mortal lives? You wouldn't believe how reasonable rents are down at 7 Beelzebub Lane... ya it's *technically* in hell, but it IS air conditioned and still cheaper than a studio in my current mortal town. The rents in heaven though? Too damn high! (pun so intended!)
We have been reprogrammed to want experiences vs a house. I had so many friends going through my 20's that told me they didn't care about owning a home and now that they are in their 30's with kids they see how they messed that up.
They messed it up by having kids
They shouldn't have had kids until they are financially stable. It's unfair of them to just expect the rest of us financing their life style.
I'm a "homeowner". Meaning i live in a house that i will be paying off until the day i die. My rent payment turned into a mortgage payment with the added downfall of home maintenance, rising insurance costs, disproportionate property taxes that benefit luxury homeowners, and the fear of city citations for not being able to mow the grass in my ditch (even though theyve had old cable wires hanging in my street for over 5 years and refuse to remove them).
That sounds really hard, you should go back to renting and sell your house to someone who actually wants it if it's too much for you.
@@chuckbanks3659 😂 that's hilarious! You're funny!
Better than renting. Atleast the property is yours.
Finally, someone who's honest.
@@borginburkes1819Wrong.
My grandma used to live near the border of Detroit and Dearborn. One time I decided to count the number of boarded up homes on her street. There were 13 in a two-block stretch on just one side of the street. The house next door was demolished under the blight removal program. It is appalling how corporate profits are prioritized over people.
I think it's pretty obvious that corporations should not own households just because they can. Besides why would corporations need a side hustle? Oh yeah, pure and outrageous corporate greed...
We need empty building tax. If you refuse to use the land you should be forced to forfeit it. Its like hoarding food specifically to create a famine so that you can profit off desperation. Its sickening.
Venezuelan President Hugo Chavez did that and they demonized him for it. He said that business and landowners who did not use their property would get expropriated. Which he did and used that land to build housing.
Then boomers will say:
“Well why don’t you move to a cheaper place”
Yeah if I wasn’t attached to to work and didn’t have to commute 5 hrs to work back and forth then I would move to live in the middle of nowhere 🤦🏻♂️
This is a market fundamentalism problem and a banking problem. Most of our money is created in the form of mortgages by private banks. It is not invested in the productive economy. It's invested in real estate speculation. For individuals, we compete to see who can service the greatest amount of debt, betting on recouping based on rising prices. It's effectively a ponzi scheme. All the politicians are personally invested in keeping it inflated.
In early 1960s in Canada, my dad worked overtime for 1 year and saved enough to buy a modern, split level home in a nice neighbourhood. No mortgage😳
And when you move to a cheaper place, you also gentrify the area you move to and price out locals. I know this because everyone has been moving en masse to my state since COVID to where locals are completely priced out and pushed out of their lifelong communities.
My parents had to do that in the 80’s. They were priced out of NY and moved to FL. Cut off from family and friends, I believe we were all much worse off for it. I watched my parents become depressed obese alcholics (mom dropped dead at age 61), and I doubt that would have happened if they had been able to stay in the place our family had been for generations. I also wonder what my life would have been like if I had been able to grow up with my grandparents, cousins, aunts and uncles. It’s very sad. I hate the advice “just move.” It’s not healthy.
Solution is simple - bad corporates from owning residential property, make that only physical entities (people) can own homes, not legal entities (corporations)
Corporations already have the legal rights of individuals. They would just sue for loss of profits and that reform would be stricken down before it would even get written into law.
Relevant: en.wikipedia.org/wiki/Northwestern_National_Life_Insurance_Co._v._Riggs?wprov=sfti1
I don’t think that would work I can already see an obvious loophole
Corporations owned the government before they owned the houses, so they make their own laws now.
I swear, the next boomer that tells me my poverty is because I'm "too lazy to just pull yourself up by the bootstraps" is gonna catch hands. And maybe a bottle.
At least then you'll have free housing, courtesy of the county jail!
You should probably listen to them. I did and I'm doing great!
@@Unknown-jt1jonah too full. It'll just be a few days. Assuming he doesn't kill the boomer.
Tell them to show you "pulling themselves by bootstap" and see them fall, preferably face down.
Yeah, its really easy for those people to say when they live off of passive income and bought their assets when its 75% easier to buy than it is now. No attack on "boomers" but people who are denying the bad situation of the current housing market. They are freakin ridiculous.
Very distressing. :/ im so fortunate i have parents who are willing to house me. Wisecrack didnt even really touch mental and physical health problems that make it hard to work enough to afford housing. Smh. And then homeowners, like my folks, look down on renting in general, not wanting app buildings in their area bc it will bring down their property value. So the rich win and the poor and middle class eat each other.
Thanks for sharing your situation and the affected frustrations. It is gonna be overwhelming when it comes to stable housing and navigating these societal expectations, and remember these are complex problems alright and they effect many people just look to the fellow countrymen who is in the slums attempt to be openhanded and hard hearted freely lend them what they need. Three routine things: 1. Reach out to apps on the phone that can get into contact with friends, family and professionals ex: streetlives, Roomi, Neighbors, Zillow,etc practice exercising and meditation. Lastly community initiative like go to a shelter, attending grassroots campaigns will help.
I really like the shift towards this kind of content, but also think that it'd be beneficial to dig a lot deeper into narrower scopes. It's important to understand the broad issues, but it often feels as though 'social critique' type videos just contribute to the soup of discourse content rather than providing valuable, thoughtful, or actionable insight into problems.
I love this channel's style, and think it could genuinely become a favorite of mine with more focused topics of discussion, 3x the research investment (just as an experiment, perhaps?), and a slower upload schedule.
"Owning" a house is still a problem, because unless you are made out of money, you never really own it. The most common mortgage term is 30 years. If you are in your 30s and you get a 30 years prison sentence...that is a life sentence. Buy a home and being stuck with a mortgage for 30 years is in practice the same as renting for the rest of your life.
Every single payment you make on your mortgage gives you that much more equity in YOUR home, you aren't just burning money to rent it you are paying off a mortgage at an agreed upon current house value, while that house value is destined to only rise, Owning a house barring the collapse of society is guaranteed profit, renting is the complete opposite. Would you like to spend 1 million renting for the rest of your life, or spend 400k and own a house worth 1 million (If you're a scum sucking parasite landlord you don't even spend all 400k either, you get some poor sap that needs a home to pay it for you).
It is not the same thing at all. By the end up that 30 years your mortgage will be done and you'll hsve value in your home, allowing you to retire comfortably.
In 30 years renting, that rent payment will still be that and will more than likely have increased over the years vs a steady mortgage payment. If you even retire, that rent still needs to be paid and you have no type of monetary value to show for the 30 something years you've spent paying 1500-2500 a month
Not really because by the time you are old you can usually have the house paid off and not have to worry about property taxes. If you are old and still have to pay rent and have no one to take care of you, you are screwed. Not to mention, less and less people having kids. Imagine what it's going to be like when the millenails and gen xers get old with no home and no kids. And it's also predicted there will be no more social security at that point either!
It's only the same thing if you don't make it past the age of 60. At that point, you will own a home that you can either sell or live in. In the developed world a 60-year old can expect to live another 20 or 30 years, maybe more.
@@jomr4249that's why we are going to work until we die. I believe that's what most poor people did before social security benefits were introduced.
Diamonds. Diamonds are hoarded in vaults to be slowly released to artificially keep the price up.
Now it's homes. Why is the demand so high and the supply so low? Because homes are being hoarded and left empty, to keep prices artificially high.
Shelter is NOT comparable to a superficial rock!
I definitely feel the effects of this. My first job out of college is a Cultural Resource Technician for $20 an hr. I wish I could move out now, but I'll have to wait to get promoted before I even think about moving out. This is another aspect of renting being out of control, lots of young people being forced to still live with their parents for a couple more years then they expected.
I hope this doesn’t rain on your parade but It took me 4 years after graduating to be able to move out of my parents house and I was making $21-25 an hour depending on the year (i live in Toronto Canada). Now I have a full time big girl job that pay 80,000 a year and that’s still not enough to buy a home, and I’m renting one of the cheapest units on the market right now and I’m just making enough to get by in Toronto. From an older Gen z to a younger one, we are fucked 🙃
@juliacoves5873 Agreed. I got a 60,000/year job right out of college that I've been at for a year. I was eager to move out of my parent's house, and since I thought 60,000 was a lot I moved to a decent two bedroom apartment (on the cheaper end of what I could find). As I'm approaching the renewal time, I'm really stressing out. My rent is already at 1200, and it will probably go up by quite a bit. I have doubts my salary will also raise to match it... but I really cannot go back to living with my parents.
Maybe I should just look into moving to Europe...
I’m planning on moving to Mexico once I save up enough money.
@@Kukuulkanwhy Mexico?
@@Kukuulkan don't look now, but geoarbitrage is not a victimless exchange. Ask the mexicans what they think of Canucks and yankees moving into their desirable regions...
I wish I could afford a home. When I reported our electric stove was malfunctioning (suddenly getting red hot on a low setting) the manager sent us a replacement burner that didn't even work for our stove. When I told her that didn't solve the problem, she told me "that's just how electric stoves work." I called a repair person on my own and they fixed the very obvious electrical issue that it was. It's so reassuring to know that my being an idiot is a likelier scenario to her than an appliance malfunctioning...
I have a VA home loan, and I believe I'll never own a home
Same
Same. Can’t even get a high enough loan to purchase a home.
Let’s give the audience more anxiety, then advertise for therapy. 😌
Capitalism , gotta capitalise em all😓
ua-cam.com/video/AtdqBU-r8P8/v-deo.htmlsi=5s31uDCyBYDtyajG
I've worked in affordable housing and public policy over 10 years
Helen (and the researcher for this video, Corrigan Vaughn) hit the nail on the head 👌🏾
Better help overworks and underpays their therapists. Y’all should reconsider doing future sponsorships from them.
It would be nice to see a limit on how many single family homes a corporation could own. There are a lot of individual landlords who are great, the guy I rent from is decently fair, but when it's a corporate owner that's just a profit center for them.
Taxes that are used to build homes.
Boycott Airbnb's. Investors make me so angry! Greed will be the end of us.
In Italy housing it's becoming a problem in general, not only owning an house but also renting it, due to short rentals for tourism. Salaries are among the lowest in Europe but rentals are going nuts without control: the rent for a single room for a student in big cities is almost 60% of the average salary, many workers have to live very outside the city and commute everyday for hours. Most important cities like Venice, Rome, Milan, Florence etc are becoming tourists dorms 😢
Please do a video explaining how things are harder for this millennial generation vs baby boomers. Watching this video gives a reminder to those hardships considering that most of us millennials (and Gen Z'ers) may never be able to own a home.
Boomers were willing to move and live in small towns and rural areas. Zoomers aren't.
It was always the plan "you will own nothing and you will be happy", did anyone think that big corporations will also own nothing?
When I started seeing articles from major respected publications saying how young people should rent and not buy a house a few years back I knew shit was going to go real bad.
And that's to say nothing of civil asset forfeiture or eminent domain where they can just straight-up kick you out for the property you own.
That's not really a core contributor to the problem of home affordability.
@@Unknown-jt1jo fair enough but in the event you do manage to afford a home there's still no guarantee you can keep it. There's always a way that somebody can screw you.
Thank you Helen for better helping us understand why i should hate Blackstone even more!
She mostly talked about why you should hate white people.
I *love* the fact that vietnam vets are retiring to vitenam cause housing and medicine are better there, for some unknown reason.
Every time I hear someone bash a social policy as communist, I immediately think it's actually the best course of action. probably a bad bias, but hopefully understandable.
No talk of the housing supply issue. Tradesmen are retiring way faster than we are making new ones, driving up costs of new construction and upkeep/renivation way more than the inflation of material costs. Everyone wants to get a useless degree, no one wants to learn skilled labor.
Lack of supply is why housing prices have not significantly come down in the face of steep interest rate hikes.
I don't see how the title of "How we all became forever renters" is in any way accurate. "We all" implies it's... you know.... everybody.
I don't rent. Many people don't rent. I grant many, many, MANY people DO rent and the economy is absurd that way and it is definitely a problem, but that title is just stupid.
This title gets more people angry thus creating more views.
I don't live in the US, but back when I first purchased my small apartment (due to getting a small fund from a family member passing away) in the 2000s, my mother actually wanted to just continue renting. I told her that if we didn't take advantage of the super low rates at the time, we're never going to be able to own a home afterwards. I have never been so glad I made that choice since home prices had gone up and never looked back.
Easy answer is to force Wall Street out of the housing market and restrict home ownership to no more than 5 for anyone. Only small investors survive, housing market restored.
Investors would just start a bunch of smaller housing companies to compensate. If they don't quit outright.
No more than 5 houses for everyone? How about no more than 2, or maybe how about no more than one?...
- In some places, there are laws that prevent corporations from hoarding properties and leaving them unused. If the property/land/building is unused/undeveloped for a period of time, the government will seize it and give/rent/sell it to someone who will or turn it into a park or something. Some places aren't garbage. 👍
- 14:56 Finland also gave homeless people credit-card readers to take donations when they went cashless.
"Under 35"
LAUGHS IN 37 😭😭😭😭
*cries* ftfy
You are the best Helen! that was very well done! My days are always better with your videos lifting my spirits! Longtime fan! Your dynamic is such a joy to watch!! Always look forward to more of your amazing content! I’m so proud to be a member of this community! You're Truly awesome!
There are pros and cons of renting and home ownership. When you buy a house you have unexpected costs like maintenance, taxes and interest. With renting you pay the same price every time until the lease expires. Fun Fact: the root word of mortgage is the Latin word mort which means death. How to ask yourself whose death? The borrower or the lender?😢
A primary read I am against inter generational wealth is that it absolves the current generation of the atrocities committed to gain it by the previous and launders the money from blood money into trust fund privilege. Each generation should have equal opportunity, access to resources and as equal a start as can be granted by the collective humanity.
Props for the Siouxie and the Banshees t-shirt!
Do not rent thru a 3rd party service, like the Renter’s Place. They are scammers and landlords are using them completely unaware about the double billing, billing for basic repairs, and just completely avoiding all communication with both tenants and landlords. They need to be shut down.
Reminder that better help sells your medical information.
Blackstone and others may own 40% by 2030. But they only owe 10-15 now. They're attacking the new home industry, which keeps prices of rentals in check. All we need is government incentives for cheap starter homes and it'll keep them from gaming the market. It's not as bleak as people think atm, but it's gonna get worse if we don't focus on new starter homes.
Without watching I’m going to try to predict the answer: Because people who are older than you already bought the houses so now you have to give them money. Don’t like it? Should have been born earlier.
Boomers: "What were you doing in 2005-2006? Learning to crawl!? Shouldn't have been so lazy"
How dare you be in the third grade instead of exploiting a human necessity for profits. I guess home owners were just smarter and more deserving than you were. oh well try harder next time bud.
Surprisingly not. The biggest problem is the corporatization of singel-family, rental homes.
At some point a mass of roaming bands if marauders pillaging the Properties, Homes, and Smal Cities will arise, and new small nations within America of warlord will rise and be quickly squashed one after another. People will take those home by force an try to live without connection to the electric grid or phone lines with no running water even if it's for a month before they are shot down by at first the national guard and later clandestine and eventually sanctioned mercenaries. It would be hilarious.
@@saininjin still swimming in my dad’s balls. 😂
Makes you wonder what the world would be like if they hadn’t swapped “property” to “pursuit of happiness”
Might have made communism less appealing for the bottom 50%'ers in the US. Or at least would have justified hostility towards them.
A video about the housing crisis but not a single mention of zoning and NIMBYism. We cannot decommodify the housing market without major zoing reform that allows more housing to be built. Corporations profit on the lack of supply that NIMBY homeowners perpetuate by blocking any new housing that is not a single family home.
I feel blessed to be purchasing my home. Thank you Lord. Homeownership in the US should not be an unrealistic dream for the working class
"Ask me how I know"
That landlord's kids will inherit the shade from that look 😂
We need to go back to 08 prices. My generations gets called lazy everyday but it seems like as soon as I turned 18 (I’m 24 now) everything on earth just tripled in price making it even harder to move out after school whether it’s college or highschool
For a more in depth video I highly recommend “Property TV is Keeping You Poor” by The Leftist Cooks to explore the topic further
I am 59...I bought my first house, a fixer upper, at 27
Its a whole new game today....prices are several times what they were when I bought the first time, but incomes are not
The first house I bought was 48K...today its worth 300K
The Finnish insert at the end is sadly becoming less true, partly because pandemic and mostly because the current far-right neoliberal coalition who self-proclaimedly are attacking the "rich of the poor people"
Love your videos, which I just started watching, and sharing. You're very articulate, A good presenter, and well researched. Hopefully they'll help educate people about the realities of modern living.
Two misleading statements... 1, some empty houses are needed as people migrate, etc... 2, I live in Metro Detroit and a lot of the empty houses are in such poor condition they're in process of being torn down.
Syracuse Resident here - can confirm all the empty houses. Its incredibly sad every-time you come across yet another perfectly beautiful house thats fallen into disrepair(and its not just houses; factorys, gas stations, malls, restaurants, etc.). You pass so many just driving into the city. It's depressing to look at them go by and think that if the circumstances were different, maybe one of them could've been your house.
Okay, so lived in Syracuse for two years and the reason why there is no one living in the abandoned houses in Syracuse is because they're not fit for human habitation.
The point is not that the homes should be repurposed despite being uninhabitable, it's that they should never have been abandoned in the first place.
You may not think it but this hits at all ends of the spectrum.
I live in a £1m house in London and still feel poor. 😢
This is so topical. One of my friends is in the process of purchasing a home and his parents are RELENTLESS insisting there will be a crash "soon." Like we all haven't been waiting for that so we might have a chance to own 🙄
Honestly with all the craziness it's amazing it didn't crash, but since supply is low and demand is high, we all know what our benevolent economic overlords will do...
It’s crucial for banks to loan money for mortgages but they realized they can make more money by having homes cost a lot more right now rather than having to invest millions to build more homes and then wait many years to have mortgages for each one. Just triple the cost on the existing homes right now. Zero investment, all profit, instant payments to banks. Building more homes would end up hurting banks since the cost of homes would go down. Corporate America doesn’t want that so it’ll never happen. This is the norm, not the temporary. That goes for everything.. gas prices, rent prices, food… prices aren’t going to go down. This is the new norm now and they are profiting way too much to ever let that go and it’s totally legal.
Imagine it's dinner time and you're hungry. Little old grandpa and grandma are getting groceries to cook the dinner. Now, you're a strong young human and you could carry every one of their bags up the stairs with little effort, but you think grandma and grandpa need to learn the value of a day's hard work. So you let them bring up the groceries themselves, watching them struggle and feeling proud of yourself for being a good teacher. Grandpa hurts his back so grandma has to cook alone. Do you get up to help? No. These things just happen. You may just so happen to be a world famous chef, but you can't coddle grandma. You've already done your fair share of cooking in your life. No one might have been around to see it, but that doesn't matter. Grandma should be able to handle the kitchen by herself or she doesn't deserve her dinner. She should be lucky that you let her pay rent for the kitchen she's working in.
She should be giving you the first plate. Doesn't she know how much money you have? How capable you are? Who cares if you're not using your capabilities to give them a better life? It's your hard earned money. You've given her the opportunity to pay you rent and make dinner for you. She should be grateful. Grandpa should be worshipping you since you're going to give him a medical plan for his bad back. Imagine what they'd be like without you. The nerve of these people.
Anyone else sick of hearing financial advice from boomers who bought their house for $45k before the 1000% price increase?
Never ask a real estate agent if it’s a right time to buy a house. For them, every day is a golden opportunity 😂😂
You got that right! No job, no money, no credit? No problem!
My father does mortgages and he’s drank so much of his own kool aid that he really tries to convince me now is a great time to buy a home because demand is down. I know for a fact it’s not. Of course, he wants to handle my mortgage so he gets the commission.
28 and own my home (my secret is I live in a poor state and make regular money) as long as I don’t sell I should be good (my house has tripled in worth since bought. So I’d never be able to repeat the process now)
We need to distribute maps of local empty properties to homeless shelters so they know where to pitch their tents.
As every pother problem: deep down it's always greed.
Looks like game's over, my friends. The last one to leave please turn off the lights. It has been a pleasure.
At least here in Europe we have pretty high population density so we haven't got nearly as much land left to build on. NA's got loads of empty space to build houses and apartments on. It doesn't help that there's such poor planning as far as housing density. Why do so many homes have to have so much empty space surrounding them?
The space, driveways, styles and other things that add to the cost of suburban housing in NA started as thinly veiled classism/racism. There were * technically * laws against discrimination back in the 40s-60s but the mostly white middle class didn't want foreigners in their pristine suburbs. As such, lawmakers made rules single family housing that encouraged uniformity and a price range out of reach for most non "traditional" (white nuclear family) folks to get into.
As suburban housing became the primary "investment" for families in NA, developers and lawmakers continued to encourage more and more "safe suburbs" with housing associations, strict zoning laws and pretty much anything they could get away with for profit and status quo.
I was lucky enough to go to Europe for a school trip ages ago and I absolutely LOVED your diverse buildings and lively streets. So much better than nearly dead rows of cookie cutter rental houses here.
Poor people didn't cause 08. Over-leveraged rich people did
With planned obsolescence, we're renting our gadgets and cars as well
Just a reminder that most central office locations are searchable, and that you can send that information to 'advertisers'
Love this topic so relevant.
Most of the vacant homes in Detroit are still owned by people. Less taxes to pay when it’s vacant than to rehab the homes and have renters. The assumption is the homes are abandoned, but the are vacant, but owned. Change the laws and force the home sales vs leaving them to rot then the home goes to the city to try and sale.
I was finally able to buy a home in 2021. Then another last month. I feel like I barely squeaked in there before it became impossible for me. I'm a single person making 3x the median for my area which I know is not typical.
Amazing! You're doing it!
Seen the writing on the wall about 6 years ago. Bought a 2 family and rented out the bottom. I know im a landlord now but id give it all up for affordable housing for all.