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Surviving on $1,800 a Month in Social Security, She Died Looking for a Place to Live (capitalandmain.com)

submitted 3 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 29 points 3 weeks ago (1 children)

All places around here require 3x the rent. So that means she could have 600/m for rent. I can’t even imagine finding a single room for 600 nowadays.

Lots to look forward too! Hopefully I kick the bucket in a board room.

[–] [email protected] 5 points 3 weeks ago

Well, kick someone's bucket

[–] formergijoe 26 points 3 weeks ago

"$1800?! That's way too much!" president Elon Musk probably

[–] ladicius 16 points 3 weeks ago (2 children)

Are there really unoccupied empty houses standing around all over the country?

[–] Reddfugee42 16 points 3 weeks ago

[+] [email protected] -7 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

Not really, no.

In some remote places yes, and there are a small number of ultra expensive mansions that sit as 5th+ properties but by and large there is not enough housing for everyone.

The vacant houses additionally include ones that are condemned, ones that have been sold but haven't been moved into yet, and ones that have been moved out of, are on market, but haven't sold.

Realistically you need about 5% of houses to be vacant at any given time to have enough stock open for people to just move around like normal. Anything less than that is a shortage.

Many American cities are sitting below 2% vacancy - which is an extreme shortage. NYC sits at 1.41%.

There are no answers to the homelessness crisis besides building housing. A lot of it.

[–] cogman 13 points 3 weeks ago (1 children)

You are talking about unowned and unadvertised housing. A new trend in the housing market has been people buying houses and putting them on air bnb while they wait for the value to appreciate. Several houses in my neighborhood did that.

That alone has taken a huge number of units off the market.

But then on top of that, there's been rent collusion with apps like yield star which has ballooned the cost of housing to unreasonable levels. Landlords have let units sit empty because they know following the yield star recommendations will ultimately maximize their profits.

Building housing helps, but so long as these factors exist no level of new housing can compete. We'd have to more than double the empty units to make a dent in the pricing from these speculative owners. Even that might be too much.

A similar phenomenon has happened in China. There are literally giant "ghost cities" because real estate is a speculative market.

[–] btaf45 1 points 3 weeks ago

A new trend in the housing market has been people buying houses and putting them on air bnb while they wait for the value to appreciate. Several houses in my neighborhood did that.

Wealthy people need something to do with all their gigantic GOP tax cuts.

[–] [email protected] 10 points 3 weeks ago

This needs to be the top story everywhere.

[–] [email protected] 5 points 3 weeks ago

I hear getting old is a bummer anyway.

[–] FollyDolly 0 points 3 weeks ago

Is her cat okay? Is Murial okay? I NEED to know the cat is alright.