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 can identify with their dreams over their realities and often go total Stockholm syndrome. Rich people do not make this mistake. Why would they? Those who seem to are generally assholes pretending to be nice because they can.
*** Working day and night to grow inequity and maintain business as usual, a working man's dreams make him the ultimate philanthropist. Driving by the new apartment building the working man imagines it must be nice to live there.
In their dreams. Because that is the only way they ever will. Unless perhaps they are of the professional class with a huge 4-hoe-1-K. when they retire.
Not so many like that though. Rich people come to America from all over the world now. It is the migration crisis nobody talks about. Money does not always talk. Sometimes it shuts the fuck up and makes things expensive.
To be rich and live in a faraway land.
If you are from anywhere else in the world, that faraway land can be America.
And making things too expensive for the locals is an American tradition. Everyone with money is welcome. Everybody else can swim a river and drown.