Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Lady Freedom Returns

(14,120 posts)
Fri Nov 20, 2020, 11:40 PM Nov 2020

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 = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Invisible People story from October 9th, but still worth reading. (Original Post) Lady Freedom Returns Nov 2020 OP
Builders need to start building smaller, affordable homes instead of Marie Marie Nov 2020 #1
They build what sells. If only the rich can afford houses, expensive houses get built. Hermit-The-Prog Nov 2020 #2

Hermit-The-Prog

(33,041 posts)
2. They build what sells. If only the rich can afford houses, expensive houses get built.
Sat Nov 21, 2020, 03:33 AM
Nov 2020

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

Latest Discussions»General Discussion»Invisible People story fr...