277
Homebuyers need to earn 80% more than they did in 2020 to afford a home in today's market
(finance.yahoo.com)
this post was submitted on 30 Mar 2024
277 points (100.0% liked)
Economics
874 readers
53 users here now
founded 2 years ago
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Who could have predicted that shutting down the entire economy with zero safety nets in place and allowing corporate interests to buy up the entire housing market could have had such disastrous effects?
Lmao okay.
PPP was the biggest wealth funnel in modern American history. The funny part about how leftists always defend COVID policies is that they're defending what was maybe Trump's biggest grift. Certainly the most successful, because even his most vocal opponents will eat themselves alive the second one of their own criticizes it, and MAGAts have no issue with doublethink.
You're equating two different issues as one. Yes, there is a need for short-term housing. No, that does not mean that landlords are the ones who should manage it.
The PPP itself was just fine, Trump got rid of the independent oversight watchdog that was to look over it. And months later once it was trying to hobble its way back to oversight, the administration instructed government agencies to be as uncooperative as possible. So of course without a watchdog, the foxes took everything they could from the hen house. The program itself wasn't the issue.
https://apnews.com/article/virus-outbreak-donald-trump-ap-top-news-politics-health-cc921bccf9f7abd27da996ef772823e4
https://www.reuters.com/article/idUSKBN23M2XC/
And unsurprisingly billions of dollars disappeared shortly afterwards.
And then even more theft because Trump neutered the court's ability to requisition records.
Your anecdote does not disprove the fact that nearly half a trillion dollars is estimated to have been frauded from the US Govt. via PPP and other Trump COVID policies
Maybe, like, I dunno, affordable, community owned-and-managed housing, where living costs aren't determined by what color Corvette the landlord wants this year, would be a good start.
Lmao there's the mask off moment
There is nice government owned housing all over the world.
It's not all gross projects.
We'll just have to agree to disagree on that. The free market does a terrible job at providing housing. You must have just been lucky with your landlords before. The fact that this thread exists demonstrating how crazy high housing is shows that the free market isn't great for providing housing.
There were several safety nets in place for both people and businesses.