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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[–] Crankenstein@lemmy.world 4 points 19 hours ago

And they did so explicitly because they knew the lack of action would create these kinds of scenarios where they can further consolidate wealth and control.