They keep raising prices, stating that it’s due to inflation, but then they keep having record profits.
Meanwhile, the average American can barely afford rent or food nowadays.
What are we to do? Vote? I have been but that doesn’t seem to do much since I’m just voting for a representative that makes the actual decisions.
It will partially fix it because part of the problem is wealth inequality; housing is a form of wealth and becomes more out of reach as wealth concentrates away from people. Giving everyone money serves as redistribution.
Think about it. If everyone has more money that means so do the other people bidding against you. It’s like the college tuition problem. Everyone can get student loans, so colleges have no incentive to keep costs reasonable. Giving college students more money doesn’t fix the problem of college being too expensive.
You still think you’re bidding against other people for housing. That’s not the case, often, these days. Corporate land grabbing is the largest proponent of the housing crisis. That has to be ended before anything will get better on that front. Education for profit is another absolute crime against the citizenry. College should only cost what education costs, not what it costs to hire the fucking football coach and build a goddamn stadium.
You’re bidding against both, and increasing the amount of money people have also gives people who already own a home the opportunity to buy another one and get in on the investment those corporation are. All you’ll get is inflation and probably a crash leaving you owing more than the homes worth when it all comes tumbling down. Throwing money isn’t the solution. Building more multi-family buildings and legislating multi-home ownership including corporations is.
Here’s a source: https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/
You’re being against people with under 10 homes, which I agree is still a problem, but you’re not bidding against large corporations.
What’s it like being so passionate about something you’re so totally wrong about?
This is basic supply and demand. Please explain how I’m wrong and giving people more money would solve the problem.
If everyone has more money that means so do the other people bidding against you
This would make sense if what was being proposed was increasing everyone’s wealth proportionally to how much wealth they already have, but I don’t think anyone is really suggesting that. Think about it this way; say you have 300k and are bidding on a house against someone who has 50 million dollars. They have a strong advantage. Now say you both were gifted 10 million dollars before bidding on the house. Your adversary still has the advantage, but much less of one.
As an aside I think what you’re saying elsewhere about adjusting laws for more housing is right, but that can’t be the whole solution when the market value of labor is being eroded away. Even if there is a large supply of housing, a share of wealth is needed to buy it, that share has to be somewhat evenly distributed or there are unavoidable problems.
You’re ignoring the hundred other people with 300k that will getting money and now bidding against me. It’s Supply and Demand.
