A Boring Dystopia

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Investors are buying close to half the empty lots in LA burn zones, report says (laist.com)

submitted 1 day ago by technocrit@lemmy.dbzer0.com to c/aboringdystopia@lemmy.world

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Shortly after the Eaton Fire destroyed thousands of homes in and around Altadena, signs sprung up across the community announcing “Altadena is not for sale.”

Now, nearly one year later, hundreds of Altadena families have concluded that rebuilding isn’t in their budget. In nearly half of recent deals for empty lots, homeowners are selling to investors.

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[–] douglasg14b@lemmy.world 47 points 1 day ago (1 children)

So even more of the land in this country will be owned by corporations and not people.

Lovely

[–] Lucidlethargy@sh.itjust.works 5 points 8 hours ago

Everyone under the age of 40 has mostly given up on buying a home.

The only exceptions I can think of are couples with dual high paying jobs, or trust fund kids.