Quote from: RE on Jul 25, 2024, 01:23 PMGood explanation of why Capitalism and the "Free Market" fails to build affordable housing.
https://ggwash.org/view/96392/why-no-ones-building-middle-income-housing-in-american-cities
Why no one's building middle-income housing in American cities
RE
That article was illustrative and clear.
QuoteBecause neither the office-building developer nor the warehouse developer can afford to pay $10 million—at that price, their projects will not generate sufficient economic returns to be financially viable—they cannot compete for this land. Thus, the land will be sold to become an apartment building.
The wisdum of de market!
* Caught with its pants down the wisdum of the market reveals itself. It wants to make more rich people by making more poor people.
** Circumstances of being rich or poor can determine how you feel about the wisdom of de market. However poor people often identify with their dreams over their realities and go total Stockholm syndrome. Rich people do not make this mistake at all. Those who seem to are simply assholes.
*** Working day and night to grow inequity and maintain business as usual, the working man is the ultimate philanthropist.