Okay, this bullshit. It’s not shareholders who would be negatively affected by this, and it’s not shareholders who are actively working against doing something about the problem. Shareholders are just an easy acceptable target to point your fingers at, whether it makes sense or not.
What needs to be done to tackle the homelessness problem (not the only thing, but probably the most important one) is to zone much, much more land inside or directly next to cities for affordable mid-rise multi-family homes. Guess who is opposed to that and has the power to do something about it? Existing property owners. Specifically owners of detached single family homes. Because doing that would negatively affect their property values. Personally, I think that shouldn’t matter, because what good is living in home that is worth absurd amounts of money on paper going to do you if society is falling apart because of it? But home owners are always massively concerned about their property values and will torpedo anything that might threaten it. Of course, pointing your fingers at home owners is much dicier than pointing them at shareholders, because even in a bubble like this one, you are bound to point at some people here who will feel personally attacked by that…
“Shareholders”, on the other hand, aside from those that are also home owners at the same time, don’t really have much reason to care one way or another about effective projects to reduce homelessness.
Have you heard of REITs? Rent-seeking capitalists have been working together for decades to speculate on housing. Wealthy people have billions and billions of dollars invested in the status quo, and they are quite interested in maintaining their position of power.
Corporations holding residential real estate are a growing part of the problem, but still a small one. The vast majority of single famliy homes are still owned by either their residents or small time, non-incorporated landlords.
Never mind increasing the supply of housing would drive down prices and remove pressure regardless of who owns the existing stock.
Okay, this bullshit. It’s not shareholders who would be negatively affected by this, and it’s not shareholders who are actively working against doing something about the problem. Shareholders are just an easy acceptable target to point your fingers at, whether it makes sense or not.
What needs to be done to tackle the homelessness problem (not the only thing, but probably the most important one) is to zone much, much more land inside or directly next to cities for affordable mid-rise multi-family homes. Guess who is opposed to that and has the power to do something about it? Existing property owners. Specifically owners of detached single family homes. Because doing that would negatively affect their property values. Personally, I think that shouldn’t matter, because what good is living in home that is worth absurd amounts of money on paper going to do you if society is falling apart because of it? But home owners are always massively concerned about their property values and will torpedo anything that might threaten it. Of course, pointing your fingers at home owners is much dicier than pointing them at shareholders, because even in a bubble like this one, you are bound to point at some people here who will feel personally attacked by that…
“Shareholders”, on the other hand, aside from those that are also home owners at the same time, don’t really have much reason to care one way or another about effective projects to reduce homelessness.
Have you heard of REITs? Rent-seeking capitalists have been working together for decades to speculate on housing. Wealthy people have billions and billions of dollars invested in the status quo, and they are quite interested in maintaining their position of power.
Do people hold shares in the private equity firms buying up all the homes and driving up the housing costs? No no it’s all the NIMBYs fault.
Corporations holding residential real estate are a growing part of the problem, but still a small one. The vast majority of single famliy homes are still owned by either their residents or small time, non-incorporated landlords.
Never mind increasing the supply of housing would drive down prices and remove pressure regardless of who owns the existing stock.
Do private homeowners and small-time landlords generally leave their homes vacant?