this post was submitted on 21 Aug 2023
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Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[–] Cheesus@lemmy.world 135 points 1 year ago (4 children)

No, unless we separate housing from investment, it will never be affordable. I don't foresee the political will to make it happen.

[–] ImplyingImplications@lemmy.ca 63 points 1 year ago (4 children)

This is the biggest issue right here. Houses weren't always investments and making them investments was a terrible idea that's now difficult to fix.

Real estate has become a huge part of stock market and GDP figures. People's retirement funds have become other people's mortgage and rent payments. Affordable houses for some would mean economic decline for others, and no political party wants to create economic decline.

[–] KevonLooney@lemm.ee 27 points 1 year ago (1 children)

Maybe, but really the issue is construction of new houses. Cities are much cleaner now so people want to live in them. They used to be filled with factory smoke and animal feces.

Yes, more than now. No I don't care that you saw some poop yesterday. The streets were literally caked with horse poop. You wouldn't even notice dog poop.

And most jobs used to be physical, so the average person would have some experience in carpentry. If houses were too expensive, you would find a friend or relative with some expertise and build something yourself. So houses outside the city were cheap because you could build new ones, and houses inside the city sucked (and were cheap).

[–] mohammed_alibi@lemmy.world 0 points 1 year ago

Part of high housing cost is due to the investment mindset and housing speculation. However, another part of high housing cost is that other people did put in the work to raise its value. Want to live in a clean, convenient neighborhood? Someone kept the place clean. Many businesses set up shop in the area to make it convenient to buy things and get things done. Certain passionate chef set up a wonderful restaurant so that you can just come by and enjoy good food. Some group of people, leader, or politician put in the political maneuverings that got certain ordinances passed or raised the bonds or taxes to build the public transportation. So over time as people continue to invest time, effort, labor to improve an area, it should be expected that the area becomes more expensive (and desirable).

[–] donut4ever@lemm.ee 13 points 1 year ago (1 children)

System is working as designed, my friend.

[–] JokeDeity@lemm.ee 5 points 1 year ago (1 children)

"no political party wants to create economic decline."

I'm afraid I have to disagree.

[–] intensely_human@lemm.ee -5 points 1 year ago (1 children)

Yeah economic decline is actually being sold as the solution to global warming. It’s called “cutting back” but really it means making everyone poorer.

[–] Bytemeister@lemmy.world 5 points 1 year ago

Ah yes, because building renewable energy generation, electric vehicles, fortifying the electric grid, repurposing and developing land formerly used for mining and fracking... All things that happen for free.

The solution for global warming has never been "use less than you need" it's always been "use what you have better".

[–] Empricorn@feddit.nl -2 points 1 year ago* (last edited 1 year ago)

You're out of your mind. You're saying no profit of any kind is possible unless we exploit people forced to rent?

I know that's not 100% what you're saying, but that's how it comes across...

[–] ultratiem@lemmy.ca 26 points 1 year ago (6 children)

Still trying to understand how everything has to be crushed under capitalism. Food. Health care. Housing. Travel. It all there to spin up cash.

Can’t wait till they figure out how to monetize air 🫠

[–] CADmonkey@lemmy.world 16 points 1 year ago (2 children)

Can’t wait till they figure out how to monetize air

Saw this at a Walgreens last week.

[–] degrix@lemmy.hqueue.dev 10 points 1 year ago (1 children)

These are really popular with people traveling to Colorado ski resorts and getting altitude sickness. They’re useful to grab to avoid getting sick and combating the symptoms if you do.

[–] variants@possumpat.io 2 points 1 year ago (1 children)

I remembered those existed and grabbed one when the gf was having a tough time fighting covid

[–] intensely_human@lemm.ee 2 points 1 year ago

It’s honestly fantastic that you can buy oxygen in stores. Imagine if you needed oxygen fast and had to wait for a doctor’s appointment.

[–] bbmb@kbin.social 2 points 1 year ago* (last edited 1 year ago)

There are actually medical edgecases for stuff like this where they can be quite useful. That being said, a lot of people definitely also seem to view it as merely monetary, as there are literal oxygen bars in Vegas.

[–] Maximilious@kbin.social 5 points 1 year ago (1 children)

In the healthcare space they already have. If the wild fires keep up, it won't be long before we have a Spaceballs or Lorax mogul in our midst.

[–] bbmb@kbin.social 3 points 1 year ago

Certain states such as Oregon (where I live) have acts in place regarding forests in general such as the FPA that should prevent the worst, or at least the destruction of forests whether imperatively or by wildfire, from happening.

However, when it comes to other places, I wouldn't even be surprised unfortunately. On the California state border on Highway 199 crossing from Oregon where it's mostly green, you see nothing but Redwoods burned and left in shambles for a few miles, it's gives off goosebumps seeing a natural sight in this awful condition, let alone a supposedly protected state park.

[–] Bytemeister@lemmy.world 4 points 1 year ago* (last edited 1 year ago)

I'm gonna go out on a limb here and say that it isn't capitalisim that is doing this. Blaming capitalism for fucking the 99% is like blaming science for inventing nuclear weapons. Capitalism is just the process. The focus is determined by key players. Frankly, I'd blame the availability of just about every industry in the stock market for what we are seeing. Companies used to be run by industry experts, who had a vested interest in their business being a sustainable long term asset that would provide wealth to their family for generations. Now, companies are run by "Line Go Up" CEOs appointed by a board of stock holders (mostly financial bros) who just want the stock to look real good before they sell it. There is no concern for the customer, workers, or the general populace beyond government mandated standards. All that matters is making money for people who couldn't care less or know less about the industry.

Capitalism didn't ruin food or housing. Capitalists did.

[–] nonfuinoncuro@lemm.ee 1 points 1 year ago

Where hexbear when you need them?

[–] intensely_human@lemm.ee 0 points 1 year ago (1 children)

Investment is exactly what we need. We need more people to see building housing as a good investment, in order to get more housing.

The only other option is forcing people at gunpoint to build housing, and that only works for a couple of months then backfires.

[–] hglman@lemmy.world 2 points 1 year ago

But keeping supply low is more profitable. There isnt going to be an expansion of housing without a change in the rules of the game.