this post was submitted on 09 Sep 2024
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Economy

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How Americans Voted Their Way Into a Housing Crisis (www.bloomberg.com)
submitted 2 months ago by Amoxtli to c/[email protected]
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https://archive.is/20240908131824/https://www.bloomberg.com/news/articles/2024-09-08/an-american-affordable-housing-crisis-built-by-local-democracy

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[–] [email protected] 2 points 2 months ago

There's also a lack of homes due to investors hoovering up available stock and letting them sit idle. Over 1/3 of the homes in my state are owned by investors and a significant fraction of those are sitting empty and idle until the market bubbles again and they're unloaded at +25-100% over the purchase price.