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Surviving on $1,800 a Month in Social Security, She Died Looking for a Place to Live (capitalandmain.com)

submitted 1 month ago by [email protected] to c/[email protected]

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[–] [email protected] 31 points 1 month ago (1 children)

All places around here require 3x the rent. So that means she could have 600/m for rent. I can’t even imagine finding a single room for 600 nowadays.

Lots to look forward too! Hopefully I kick the bucket in a board room.

[–] [email protected] 5 points 1 month ago

Well, kick someone's bucket

[–] [email protected] 26 points 1 month ago

"$1800?! That's way too much!" president Elon Musk probably

[–] [email protected] 16 points 1 month ago (2 children)

Are there really unoccupied empty houses standing around all over the country?

[–] [email protected] 16 points 1 month ago

[+] [email protected] -7 points 1 month ago* (last edited 1 month ago) (1 children)

Not really, no.

In some remote places yes, and there are a small number of ultra expensive mansions that sit as 5th+ properties but by and large there is not enough housing for everyone.

The vacant houses additionally include ones that are condemned, ones that have been sold but haven't been moved into yet, and ones that have been moved out of, are on market, but haven't sold.

Realistically you need about 5% of houses to be vacant at any given time to have enough stock open for people to just move around like normal. Anything less than that is a shortage.

Many American cities are sitting below 2% vacancy - which is an extreme shortage. NYC sits at 1.41%.

There are no answers to the homelessness crisis besides building housing. A lot of it.

[–] [email protected] 13 points 1 month ago (1 children)

You are talking about unowned and unadvertised housing. A new trend in the housing market has been people buying houses and putting them on air bnb while they wait for the value to appreciate. Several houses in my neighborhood did that.

That alone has taken a huge number of units off the market.

But then on top of that, there's been rent collusion with apps like yield star which has ballooned the cost of housing to unreasonable levels. Landlords have let units sit empty because they know following the yield star recommendations will ultimately maximize their profits.

Building housing helps, but so long as these factors exist no level of new housing can compete. We'd have to more than double the empty units to make a dent in the pricing from these speculative owners. Even that might be too much.

A similar phenomenon has happened in China. There are literally giant "ghost cities" because real estate is a speculative market.

[–] [email protected] 1 points 1 month ago

A new trend in the housing market has been people buying houses and putting them on air bnb while they wait for the value to appreciate. Several houses in my neighborhood did that.

Wealthy people need something to do with all their gigantic GOP tax cuts.

[–] [email protected] 12 points 1 month ago

This needs to be the top story everywhere.

[–] [email protected] 6 points 1 month ago

Lol, like there's going to be social security after this administration. They're gonna break that piggy bank open and stuff their mattresses with it and sleep like babies to the cheering and delight of half the country because: fuck them poors.

[–] [email protected] 5 points 1 month ago

I hear getting old is a bummer anyway.

[–] [email protected] 0 points 1 month ago

Is her cat okay? Is Murial okay? I NEED to know the cat is alright.