this post was submitted on 19 Dec 2023
227 points (97.1% liked)
A Boring Dystopia
9720 readers
1682 users here now
Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.
Rules (Subject to Change)
--Be a Decent Human Being
--Posting news articles: include the source name and exact title from article in your post title
--Posts must have something to do with the topic
--Zero tolerance for Racism/Sexism/Ableism/etc.
--No NSFW content
--Abide by the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I don't care if companies own houses, they rent out those houses so the amount of housing is still increasing.
Same for "those outside the country" unless you mean like billionaires buying housing units and not living in them and not renting them out, but that is not a big enough part of the market to matter.
15 percent of the market is big enough to matter. https://slate.com/business/2021/06/blackrock-invitation-houses-investment-firms-real-estate.html
Corporations bought 15% of homes sold in that quarter, they don't own 15% of the homes. The total owned is much less, I think it's 2% combined. But regardless, that does not impact HOUSING, it impacts home buying. Separate issue.
If 100 people need somewhere to live, and there are 98 houses, 2 people will not have housing. Now imagine a corporation buys 10 houses and rents them out to 10 of the people. Still exactly 2 people without housing. I care more about helping the people who do not have places to live.
It is more than you think.
https://www.billtrack50.com/blog/investment-firms-and-home-buying/#:~:text=According%20to%20data%20reported%20by,%2D2021%2C%20why%20is%20this%3F