Comment on @jack_toohey on why the housing crisis is not caused by migration
TheBat@lemmy.world 3 weeks agoSame as every other place I assume. Rich fucks buying up property as investments.
This shit is happening everywhere. Even in India housing prices are astronomical. Some places in Mumbai are as expensive as New York while the median income is nowhere near that.
null_dot@lemmy.dbzer0.com 3 weeks ago
That doesn’t create a shortage of rentals though.
glimse@lemmy.world 3 weeks ago
What do you think “property” is in this context?
They are buying homes and not renting them out. Holding them as an investment and/or making money off them on Airbnb.
null_dot@lemmy.dbzer0.com 3 weeks ago
Why would you buy a home and not rent it out?
AirBnB isn’t helping but it’s well established that it’s not a significant driver of the problem.
Steve@startrek.website 3 weeks ago
If its just a speculative asset to be traded back and forth you dont want the extra hassle of managing renters.
glimse@lemmy.world 3 weeks ago
What generally happens to prices when there’s a high demand and a low supply
Nalivai@lemmy.world 3 weeks ago
Why do they get all the money and not buy anything with it? Billionaires are horders, they don’t use what they hoard.