this post was submitted on 18 Aug 2025
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How could this happen? (media.piefed.world)
submitted 1 month ago by The_Picard_Maneuver@piefed.world to c/whitepeopletwitter@sh.itjust.works
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[–] twice_hatch@midwest.social 0 points 1 month ago (2 children)

If they built luxury apartments, rich people would stop renting regular apartments, and the prices would go down

[–] pelespirit@sh.itjust.works 8 points 1 month ago (2 children)

Rich people like cheap apartments too, lol.

[–] theangryseal@lemmy.world 6 points 1 month ago (1 children)

I know a millionaire who lived in a single wide trailer with two bedrooms for most of his life. Finally built a nice brick house in his 60s.

[–] drunkpostdisaster@lemmy.world 5 points 1 month ago (2 children)

People like that are a rare breed. What did the guy do for a living?

[–] theangryseal@lemmy.world 4 points 1 month ago

Owned 7 gas stations.

[–] theangryseal@lemmy.world 3 points 1 month ago

He’s only recently started spending his money. He’ll be 70 in a couple months.

He spends it on vacations for his grandkids mostly.

[–] NateNate60@lemmy.world 4 points 1 month ago

The idea that creating more housing stock will lead to prices decreasing is still economically sound.