US News

1855 readers

1 users here now

News from within the empire - From a leftist perspective

founded 5 years ago

MODERATORS

US banks could get slammed with another $160 billion in losses as commercial real estate faces its biggest crash since 2008 (www.businessinsider.com)

submitted 10 months ago by yogthos@lemmy.ml to c/us_news@lemmygrad.ml

10 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] TeezyZeezy@lemmygrad.ml 7 points 10 months ago* (last edited 10 months ago) (1 children)

Comrades, what if we started organizing for this now with each other (in our respective local orgs) and prepared for prices to crash, did what the real-estate pigs did (on a smaller scale obviously) and then provided free or super low-cost housing for people because we have the ownership and can simply let them live there?

Just an idea, I know it's speculative so it might not be the best decision. Could just use it on other stuff

[–] davel@lemmygrad.ml 10 points 10 months ago

If only the municipalities would eminent domain them at the dip and make them into pubic housing. We’re programmed to view public housing as a drain on resources, when the rents in fact contribute to the city’s revenue.