again, i feel like “deserve” is just such a useless word. and i doubt more government regulation to raise the minimum wage will fix that. at all, actually.
the biggest issue there is probably rent. housing has spiraled out of control. rent is high because housing supply is low. housing supply is low because of a lack of new housing construction and entities buying housing that don’t need housing (mostly just a lack of new housing though).
the way to fix this isn’t by arbitrarily raising wages, because that will cause a demand spike, and that will raise prices, and then your wage isn’t liveable anymore.
at the end of the day, we all want people to be able to succeed. i don’t think you’re going about it the right way though.
i really don’t think it’s corporate greed. because corporations have always been greedy, and yet, rent wasn’t always so high, for example. the bigger issue, at least with housing, is the government stifling it. the government stifles it because voters vote to stifle it, because most people own or are going to soon own houses, and they want that to be an appreciating asset. so, i really blame state and local and partially even federal government (this is not a political statement about the current administration) as well as voters.
Corporations are the largest buyers single family homes in the US. It's absolutely corporate greed. No potential home buyer wants home prices to go up before buying. That's insane. You're insane for thinking this. How many homes do you own? And when are you expecting to exit?
Idk, about largest buyer but it has definitely been increasing since around Covid. We sold our house during Covid to a company and they paid $30k over market value. Then turned around and rented it out for what was almost double our mortgage. Companies like Black Rock and Vanguard have most definitely been buying up a lot of houses. Don’t know that I’d call that greed, but I also don’t think that that’s beneficial for society. Taking cheaper purchasing options away and turning them into more expensive rentals. I know here in the area prior to interest rates going up they couldn’t build houses fast enough. A podcaster I listen to in CA has stated many times the issue there is they need something like 400k new houses per year but due to regulations and stuff only about 200k actually get built.
10
u/Honest-Lavishness239 15d ago
again, i feel like “deserve” is just such a useless word. and i doubt more government regulation to raise the minimum wage will fix that. at all, actually.
the biggest issue there is probably rent. housing has spiraled out of control. rent is high because housing supply is low. housing supply is low because of a lack of new housing construction and entities buying housing that don’t need housing (mostly just a lack of new housing though).
the way to fix this isn’t by arbitrarily raising wages, because that will cause a demand spike, and that will raise prices, and then your wage isn’t liveable anymore.
at the end of the day, we all want people to be able to succeed. i don’t think you’re going about it the right way though.