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Are We Headed For Another Housing Bubble?

 
 
RexRed
 
Reply Thu 22 May, 2014 08:07 am
Did the real estate problem ever get fixed or are banks and real estate speculators again artificially inflating housing prices in order to make obscene profits?

Are there millions of houses STILL vacant?

I firmly believe we would not need to raise the minimum wage if our housing problems were regulated more. Rent eats up almost an entire paycheck!

The obscene real estate profits are coming out of the pockets of the middle class.

Our homeless living on the streets are a direct result of rents and housing prices skyrocketing with no end in sight.

Why is the real estate market given a free pass?

A person working at Walmart could afford to live without a government hand-out if their rents/mortgages were not so ridiculously high.

Why can't rents be regulated just as other parts of the business sector?

This would mean also lowering utility fees that landlords need to pay.



It seems as soon as the housing bubble was over the banks bought up dirt cheap real estate and doubled the prices for consumers...

Why is this allowed?

Meanwhile the homeless have grown to epidemic proportions.

Why weren't consumers allowed to buy these cheap houses?

Where was the government in facilitating these kinds of sales to consumers?

It seems the consumer always loses out.
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Type: Discussion • Score: 0 • Views: 1,386 • Replies: 9
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RexRed
 
  0  
Reply Fri 23 May, 2014 07:10 am
@RexRed,
Someone must really hate the homeless to have voted this particular thread down...

I really wish a2k would let us know who votes on our threads.

It is not that much to really ask...
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RexRed
 
  1  
Reply Fri 23 May, 2014 07:14 am
I would rather have a low priced house than a house that has been jacked up beyond its actual value...
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RexRed
 
  1  
Reply Fri 23 May, 2014 07:17 am
I am not against a minimum wage increase but I am just saying that this increase is of no value if rental and real estate prices just rise along with it and gobble it up.
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RexRed
 
  2  
Reply Fri 23 May, 2014 07:24 am
If rental prices simply rose and fell according to supply and demand then there never would have been a "housing bubble" in the first place.

It doesn't take a rocket scientist to figure that out...

The homeless problem is also an indicator that hosing is still out of reach even when most homeless people have safety net services...

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ossobuco
 
  2  
Reply Fri 23 May, 2014 10:00 am
I read an article on this yesterday in the New Yorker, re that much of what looks like a bubble is an effect of global real estate market -

It's only a one page article but I found it very interesting.

THE FINANCIAL PAGE
REAL ESTATE GOES GLOBAL
BY JAMES SUROWIECKI

http://www.newyorker.com/talk/financial/2014/05/26/140526ta_talk_surowiecki
RexRed
 
  1  
Reply Fri 23 May, 2014 10:13 am
@ossobuco,
Very interesting, thanks for sharing it Ossobuco. What I get from the article you posted is that as long as the real estate market is making profits they don't care who they displace...

Goes a long with the GOP's idea of tax the middle class to death and give tax breaks to the rich.

We need Democrats in office who will remedy this social inequality.
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ossobuco
 
  1  
Reply Fri 23 May, 2014 10:20 am
I've been watching what has been happening in San Francisco from afar, as I like the city, and while the newspaper has a paywall, what's left for those who don't subscribe there are still interesting things to read. The techies that have lots of money have been buying up the town, and perhaps the global r.e. business is happening too, and to a great extent the middle class has been moving away to other places in the bay area. I read some article about this almost daily, or at least weekly, in the san francisco chronicle site, SFGate.
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RexRed
 
  1  
Reply Fri 23 May, 2014 10:20 am
Invest in our schools, invest in our workforce, invest in our economy but don't buy us out of house and home...
ossobuco
 
  2  
Reply Fri 23 May, 2014 10:27 am
@RexRed,
It's going on in England too - a map of difficulty re affording a house and article with it is in today's Guardian (no link, as I haven't looked at it yet).
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