News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
view the rest of the comments
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.