What about the rising cost of housing? Is that going to change when we don’t have any regulations against corporate capture of housing?
Conservative protection of corporate greed is destroying our economy. The long-term solution is to remove conservatives from positions of influence. I’m not sure that’s something that can be done peacefully.
It’s one of the things that has to happen in order for housing costs to come down. The first battle is getting inventories up, and this will encourage people to sell and builders to build. Additionally, there are steps (federally and at state and local levels) to block or disinsentivise corporations from buying everything as soon as it hits the markets but those measures are largely untested.
Once there’s inventory there’s still work to do, but none of that work will matter without the inventory.
I really hate to break it to you, but supply isn’t the issue, at least not the way you’re implying. There’s more than enough empty housing for every single person in this nation.
The primary issues are extreme amounts of land/property being bought up by investment firms only to sit empty in order to artificially drive supply down and only higher end housing being built new due to profit margins.
Yes, that’s what the second half of my post was referring to.
The point is the inventory is there. It’s been there. Anyone telling you “we need more supply” is blatantly lying, either because they’ve been lied to or because they have an agenda
This also indicates that a greater supply won’t fix the issue if we already have an appropriate supply. These corporations will just buy up new houses the same as they did with the old ones.
Furthermore, lower interest rates mean higher home prices as you’ll have more people competing for the houses when everyone (including wealthy corps) gets free and easy access to loans.
The inventory is not there. It’s the lowest its been in decades. If corporations own a house and they’re letting it rot it is still not available and thus is not inventory. I’ve been in RE tech for 15 years and our databases have never been this empty.
We generally measure inventory in months and considered 6months worth of sales to be the minimum requirement for a buyers market. We’re currently measuring it in days in may cities. Inventory is so low we had to add a 3rd type of market as this market is bad for both sellers and buyers. This is an investors market.
Honestly I don’t care what the official term, at all. If its empty housing, it’s inventory. If you’re sitting on empty housing because the rent isn’t high enough for you, you’re part of the problem. We have the housing. We also have limitless amounts of greed and selfishness.
Those are lovely thoughts; unfortunately not pertinent to what we’re talking about. The bottom line is the properties are not a available for purchase and the only force in the country likely to change that in the short term is a major recession. People can’t buy it, so it might as well not exist.
Remember, this is a country that legally requires restaurants to destroy billions of calories of perfectly good food and subsidizes farmers to let more food rot in fields all while children starve. Money being more important than lives is the basis of our economy. Corporations will only change if its more profitable to do otherwise or they’re force to by legislation. And half the government is pulling out every legal maneuver in the books to stop it any law changes. It sucks, but you have to see it to change it.
Remember “The economy” is the the rich peoples feelings index. It long ago divorced from the needs and wants of the populus at large.
Is there an article to this?
A picture of JPow is the article
Bold of them to assume the economy is in any way solid with food theft on the rise due to manufactured inflation.
Yes the economy is very solid with roughly 1/4 of the population having a significantly negative net worth, another quarter of the population at roughly 0 net worth, and then something like I dunno 500,000 people having net worths over half a billion.
Very very solid foundations for late stage capitalism to transition into techno-feudalism.
Remember when the average 30ish year old American /owned/ where they lived?
Anyway, lets keep building low income housing… but mostly age restricted only for retiring, sundowning Boomers.
Their children can just die on the streets I guess, who cares!
At least the boomers will have the comfort of dying alone and hated (by their children and caretakers) in old folks homes rife with elderly abuse.
Millenials /might/ be lucky enough to survive the one two combo of climate change and peak oil leading to fertilizer and thus food shortages with an an averaged life expectancy of 65, allowing them to live out their roughly 5 Golden Years approximately a decade after Social Security will have gone bankrupt.
Or, even better, possibly Social Security will just be eliminated even earlier by insane Republicans that are voted in by their loyal followers who apparently dont realize or care that they themselves will die without it!
Is going long on ‘panicked worldwide mass migration’ a valid stock market strategy rofl?
Not like I can afford to invest anyway…
Twelve million children in this country experience food insecurity.
Twelve.
Million.
What a fucking joke of a country. Fuck any economy that allows that.
You shouldn’t blame places like Haiti and the South American nations where we toppled entire regimes to keep new markets open for our exploitation class.
Their economies were kneecapped by the global markets, especially us. They literally lack the resources to keep their kids fed because of our influence and interventions aimed to extract wealth for our private ownership class.
The US, on the other hand, chooses not to, which is worthy of infinite scorn and condemnation.
Absolutely right. Hence my choice of the word “allow.” Our leaders are choosing things that perpetuate this.
So either the system is broken and needs to be fixed, or is working as intended and needs destroyed.
I really think it’s the latter.
It is definitely the latter.
Remember Madeline Albright saying in the 90s that starving millions of Iraqi children to death was worth it?
Remember Nixon and Kissinger just laughing amidst racist slurs while discussing the genocide in East Timor?
Obscenely wealthy and/or powerful people are essentially, definitionally, obscenely classist, racist, psycopathic and sociopathic.
Every once in a while, a few finally realize how evil theyve been through their careers full of world altering decisions. McNamara was barely able to admit the entire Gulf of Tonkin incident was nearly totally made up before he died. He was not really able to express human emotions about his invention and then professing of this falsehood to pursue what ultimately was thousands of Americans and millions of South East Asians… dead. With no real strategic advantage gained in the long run.
By the time you get into the actual upper rung of Western Capitalist society, you already know through personal experience that basically all the rhetoric about “any one can succeed if you work hard!” is total bullshit, as they nearly all came from wealthy, priveleged families, with advantaged positions in terms of starting wealth, access to healthcare, access to technology, access to education and more importantly, far, far more opportunities for nepotism.
We have literally known for over a decade, via scientific studies, that the social dynamics of any decently large corporation/empirically/ reward ruthless sociopaths with promotions to higher paying, more powerful positions.
I am not religious, but it truly is the case that the love of money warps people into monsters, capable of gaslighting the world, capable of seemingly inhuman levels of hypocrisy.
Again though, this should not be that surprising. We know the ruling class tend to be psyco and sociopathic, and we know that such people basically do not have morality: it is all a zero sum game of winners and losers to them, and goddamnit, they will be the winners no matter what they have to do, or who they have to hurt.
It gets even worse when you realize that some of the ‘conspiracy theory bullshit’ is actually true.
George Herbert Walker Bush’s father Prescott opened and ran a Bank during the lead up to WW2 which was used to funnel money from many uh fascist/eugenics-curious American Business Tycoons directly into funding the nascent Nazi Party, until it was shut down by the FBI.
I could go on, but you may get the idea: There absolutely /are/ a relatively small number of families that are just outright evil through know history. Of course, it is far more complex than ‘evil secret societies secretly write history’, partially because some of these wealthy and powerful families have blood feuds with other ones, but mostly because Capitalism rewards newcomers that are exceptionally ruthless all the time.
It needs to be destroyed, but they have too much control and successful means of divisive propaganda for it to be destroyed. This isn’t a class war, this is a fully entrenched class occupation, and worse, we were convinced to surrender without a fight as they told us “there is no class war, friends, and to engage in one would be unseemly I do declare.”
I take solace in knowing entropy is absolute, and Rome always falls/collapses under the weight of its own corrupt decadence in the end. The party will stop catastrophically for some descendants of our owner class, though we won’t be there to enjoy it.
There is no saving this system. The last conceivable small hope for that would have been our people soundly rejecting the Reagan revolution, where we were convinced giving the rich sociopaths ALL the money would somehow help everyone else, lol, and where the always on the take conservatives convinced their former opposition party to take the fucking bribe money into today, modern neoliberals.
And to add unnecessary icing to their cake post conquest, Citizens United made political bribery just another perfectly legal tuesday. Let your bribe flag fly!
Yes. While politically genius to basically marry Christian Fundamentalism with the Republican Party, it has more or less resulted in half the population internalizing the logic of ‘Prosperity Gospel’ preachers to such an extent that it is exceedingly rare for any Republicans to ever realize the extent of their political and theological hypocrisy.
Now they are Q Anon, living in, or at the least heavily influenced by absolutely absurd baseless impossible nonsense as the core of their beings.
They are impenetrable to well reasoned arguments, if you can afford the time and effort to make them. Even if you can, it doesnt matter, because theyve already fallen hook line and sinker for some new exquisite and nebulous nonsense story. They are violent and hateful, and also cowardly: Ask anyone what happens after they actually win an argumemt decisively with a Q Tard, or when one of their insane predictions for a certain date doesnt happen.
They either cry like babies, get extremely angry and violent, or tell you that they are not into politics any more… while still listening to the same hateful insane AM talk radio nut cases, or reading the same rags on the internet, /which they are addicted to exactly like a drug addict./
They just lie to your face because that is easier than admitting they are wrong. When some new nonsense narrative is invented by the right wing hate and fear mongerers? They go right back to being interested in politics, seemingly with no memory of how you already showed them that their same sources for this new thing to be angry about are the ones who provably lied, mischaracterized and invented falsehoods whole cloth the last time.
I view such people as little more than zombies whose flesh has not fallen off yet.
As ever, when referencing the economy, they’re referring to private shareholder profits exclusively.
Their job is to keep making the rich richer full stop. Emergency loans in bad times go to them, under the blatant lie it will eventually be pissed down to you because they’re so benevolent amirite? When inflation makes the value of their dragon hoards decrease, when capital battery workers gain leverage with employers, better incentivize layoffs to keep the cattle in their place.
The fed exists to work against you. Their metric for a “good economy” is ego scores for our narcissistic owner class going up faster. The fact they did so well by laying off legions of laborers that helped them succeed in the first place is irrelevant, as you don’t qualify as people at all, not with that net worth, peasant.
