HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Invisible People story fr...

Fri Nov 20, 2020, 10:40 PM

Invisible People story from October 9th, but still worth reading.

Housing Prices Increase Amid Economic Devastation Leaving Less Affordable Homes
October 9, 2020 | AFFORDABLE HOUSING
By Cynthia Griffith

In stark contrast to the 2008 recession, the plummeting economy caused in part by the novel Coronavirus hasn’t put a dent in the housing market. In fact, particularly in wealthy neighborhoods, housing prices are actually going up, even as employment numbers continue spiraling down.

The reason?

Market experts agree that it is lack of supply. In other words, the fact that we aren’t building enough affordable houses (or enough houses at all for that matter) is keeping the housing industry afloat but certainly at the expense of those who are newly unemployed. Here we have not only a widening wealth gap but an impending housing gap as houses in low-income neighborhoods depreciate and houses in wealthy and upper middle-class neighborhoods grow more expensive.

To quote Megan McArdle, a columnist at the Washington Post, “the housing market tells the story of two Americas. One has the educated and professional classes, most of whom work from home…The other America has the people whose job requires their physical presence.”

Read more @ https://invisiblepeople.tv/housing-prices-increase-amid-economic-devastation-leaving-less-affordable-homes/

2 replies, 424 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply Invisible People story from October 9th, but still worth reading. (Original post)
Lady Freedom Returns Friday OP
Marie Marie Friday #1
Hermit-The-Prog Saturday #2

Response to Lady Freedom Returns (Original post)

Fri Nov 20, 2020, 11:44 PM

1. Builders need to start building smaller, affordable homes instead of

these mini-mansions.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Marie Marie (Reply #1)

Sat Nov 21, 2020, 02:33 AM

2. They build what sells. If only the rich can afford houses, expensive houses get built.

Maybe Rotten Ronnie's union-busting and trickle down wasn't such a good idea.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread