• 0 Posts
  • 3 Comments
Joined 1 year ago
cake
Cake day: June 20th, 2023

help-circle

  • Kurokujo@lemm.eetoLemmy Shitpost@lemmy.worldgotdamn
    link
    fedilink
    English
    arrow-up
    3
    ·
    1 year ago

    That’s a fair assessment and I agree with your prediction at the end. I think the problem is that, in the meantime, there massive real-world harm being done to people by these practices that have potentially generation spanning consequences (much like redlining).


  • Kurokujo@lemm.eetoLemmy Shitpost@lemmy.worldgotdamn
    link
    fedilink
    English
    arrow-up
    1
    arrow-down
    1
    ·
    1 year ago

    In my area of the country (mid-south), home prices were pretty low until the last couple of years. I bought a 3000 ft² house in 2020 for <100k in a city. Now, a similar sized house is going for >500k. A lot of homes were bought by individuals and property management companies who did some cosmetic renovations then raised rents sometimes by >200%.

    Other properties are bought and left vacant on purpose to make sure the renters don’t have other places to go.