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Freethecrafts t1_j9qe8e3 wrote

Reply to comment by Early_Lab9079 in "All these new apartment buildings, yet still so many people forced to sleep outside" by MrJasonMason

Not necessarily. There are huge chunks of housing that are held by investment firms as either collateral or long term investments. Lowering the asking price means notifying brokers who might immediately require fees and leveling payments. Not renting below stipulations is better for them at that point.

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Early_Lab9079 t1_j9qfzc3 wrote

Thats how private property works I guess. If they want a higher price that's their right. If they want the buildings to just stay there, well, that's their right as well.

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Freethecrafts t1_j9qgppt wrote

It’s how mortgage investments work now. It’s fine until you look under the covers and realize the infinite liquidity of the Fed feeding into the system is what is facilitating keeping houses empty. Then the investment people write off asset depreciation and lost rent on their tax forms.

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Early_Lab9079 t1_j9qi5kh wrote

You're not going to tell me there is a loop hole for the rich people right?!? That the system makes rich people richer and the poor poorer?? That can't be true.. Oh boy.. Someone should do something. But not me, I got...to return some videotapes.

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