this post was submitted on 13 Sep 2024
1290 points (96.7% liked)
Memes
45751 readers
1420 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
So the point you kept missing I'll throw you a bone man.
Someone can afford the home you're in. This "strategy" is only effective if everyone's on board. Otherwise a new family will be in there on the heels of your feet.
I've got half a dozen units on my block that are selling above the clearing price. They've been vacant for years. This is speculative real estate. The only people who can afford it are the developers and investors looking to accumulate housing stock on the gamble that someone will be able to pay the markup at some point in the future.
We're talking about rentals, dude. If the families could afford to buy, they wouldn't need to pay rent.
We just had a major rental catrelization scandal, by which landlords collaborated to keep vacant units prices above the clearing rate to deny their tenants anywhere cheaper to move.
Insane