cryptoleft

There is no American “housing crisis”— there’s a supply-hoarding crisis to rig local market prices above the liquidity of local buyer capital. 

The policy solution is simple: poison-pill tax all non-occupant-owned housing to force immediate sale to local buyers at actual market rates.

Allowing unlimited non-local capital to supply-hoard vacant housing is simply anti-resident eugenics. Current residents are too poor, so replace them with richer ones— even if it causes widespread homelessness, forced migration and absurd energy costs for the displaced to commute. It’s as discriminatory as Federal Housing Administration redlining of black neighborhoods in the 1940s.

I don't agree with the viewpoint precisely but god is this discourse a breath of fresh air

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

Just curious on what part ypu don't agree with?
Where I'm from the price of a home in my neighborhood is min 1.4 to 10+ million (I do NOT own one) and there's pocket areas up to 40-70mill.
Of course there's lower income neighborhoods but a studio apartment (open room/ 1 bathroom) go for 600k-900k $$. 
I can rent for 5k$/month but don't qualify for a loan of 1700$ a month to buy.
Worst part is that 40-65% are vacant owned by people that live on the other side if the world who mostly just wash their money by buying home here and then taking loans put against the principal, never planing to live here. Also if a home goes on market at 1mill they'll have multiple offers day one for 100k-900k+$ over asking price.

After 4 years of down , getting hated on more than a cucks wife , calling us every name in the book. We still here , and loud at -90% .. just wait ...

Absolutely right that definitely is part of the problem, most don't see this cause slumlords today look nothing like the image people have in their head. I make above average but still don't qualify for a mortgage even tho my history or last 10 yrs renting ive never missed a payment or even late and I pay now 5k$ a month but the bank(slumlords overlord) doesn't think I can handel the 1700$ a mth mortgage

The reason they’re paying over asking price is because the investment companies are hoping to become slumlords with monopolies and the actual buyers are trying to compete with that.