Quote:
Originally Posted by KevinFromTexas
I think people are missing the most disturbing part of this, which is that corporations are buying up houses and driving up costs and also sitting on properties until the market improves so that actual families and individuals can't afford them. This isn't the only area where companies are doing this. Go read up on the complaints about Ticket Master and others that are snapping up tickets and turning around selling them for many times what they paid. And if you think that's crazy, I'm sure you're cool with paying thousands of dollars to go see whoever is going to lose at the Super Bowl in two weeks.
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You forgot the part about how this forces people to rent, and so many people are having to rent that it's driving up the average rent. Supply and demand. And, when the average rent in a city gets high enough, then you have major landlords such as the Hawthorn corporation which owns numerous apartment complexes all across Asheville, suddenly refusing any sort of governmental rent subsidies. They can refuse them, not have to deal with any sort of government oversight or paperwork, and just demand a tenant who can pay their rent outright. There was a story in the Asheville paper this week about a disabled veteran and his young daughter getting the boot from their Hawthorn apartment because of this.
The thrust of the gist here is that this is artificial inflation of the housing market and the rental market, and we should pay attention now before it all completely collapses, as this sort of thing always ends up doing.