Without knowing his circumstances, I can't say it's his fault, let alone that the fault was clear. I've been homeless and working, so I'm familiar with a real estate market gone bananas so much so that low income people find themselves sleeping in cars and shower surfing between shifts.
I was a bit tired when I posted, but I was going to put in a prejudice from a local transit group: to encourage mass transit, they want to (among other things) do away as much as possible with single family housing. It isn't compact enough (they say) to make transit efficient.
And here's the problem. Other than condos——which are really warmed-over apartments sold to the residents——what dwelling option other than a single-family house allows the resident to accrue capital as they dwell there?
This is a massive blind spot in our Western finance thinking, one that exacerbates the income inequality, this time between owners and renters. Making more renters just makes more rentiers and more people victim to the whims of them.
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Date: 2017-12-03 11:34 pm (UTC)I was a bit tired when I posted, but I was going to put in a prejudice from a local transit group: to encourage mass transit, they want to (among other things) do away as much as possible with single family housing. It isn't compact enough (they say) to make transit efficient.
And here's the problem. Other than condos——which are really warmed-over apartments sold to the residents——what dwelling option other than a single-family house allows the resident to accrue capital as they dwell there?
This is a massive blind spot in our Western finance thinking, one that exacerbates the income inequality, this time between owners and renters. Making more renters just makes more rentiers and more people victim to the whims of them.