• Jul@piefed.blahaj.zone
    link
    fedilink
    English
    arrow-up
    0
    ·
    9 hours ago

    I mean it’s obvious it’s to make it too expensive for people who purchased the poorly maintained housing they could afford to be able to afford to keep it and make way for real estate investors to keep the housing vacant for profit or developers and gentrification. My neighborhood has so much vacant property owned by investors, though most of it is the opposite, too expensive for a regular person to own and live in and it keeps the supply low and thus prices artificially high for people who need housing. If they can keep people out of the poor neighborhoods, too, then prices will skyrocket as people have fewer options. Great way for capitalists to “fix” a real estate slump I guess.

    • EmotionalSupportBees@lemmy.today
      link
      fedilink
      English
      arrow-up
      1
      ·
      7 hours ago

      No, for a number of reasons the city is facing a $51 million budget shortfall and instead of fixing the problem they’re doing shit like this to bring in new revenue. They’re even talking about putting up billboards in parks