this post was submitted on 18 Jul 2023
2867 points (98.3% liked)
World News
39033 readers
1150 users here now
A community for discussing events around the World
Rules:
-
Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
-
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
-
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
-
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
-
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
-
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
-
Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
-
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
Lemmy World Partners
News !news@lemmy.world
Politics !politics@lemmy.world
World Politics !globalpolitics@lemmy.world
Recommendations
For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Probably would have been worth clarifying that distinction earlier, but I'm not attacking families looking to pay for a home to be built. Construction companies that build new homes en masse are doing so to make money, not to address the housing shortage.
Much like Nissan being pleasantly surprised at making more money by discontinuing production of their cheaper models, larger construction companies aren't at some sad loss to meet demand. they acquire building permits based on how many months of completed housing supply they have waiting to be purchased. When it passes a certain level, apparently 6 months of supply, they slow down completions and reduce the number of new permits until the supply is sold at the prices they want.
Otherwise it would be less profitable. I'm not saying there aren't other issues, and smaller home building outfits struggle with local permitting, keeping employees, and rising prices for materials and appliances. But a huge issue with the industry is that it's fundamentally against their best interest to solve the housing shortage. There's a happy little feedback loop between builders and investors that keeps pumping home prices up, which lets new ones be sold for more, which pumps home prices up. Which restricts more and more of the housing market to investors, until the dystopian future where everyone rents except for the lucky souls that inherit the family property.
It is not against anyone's interest to build housing and you're making a lot of frankly absurd claims here, specifically just to villainize people.
Highly recommend you look up criticisms of SFH zoning policy
I have, and I'm not making absurd claims. Zoning issues (including NIMBY) are directly tied to housing values, with the restrictions on construction intended to prevent home values from dropping. They do this by reducing the development of supply in the area. Home builders reduce the number of housing starts and completions take longer when housing prices dip, this constrains supply until demand boils over and purchases new housing. Investment groups buy, rent, and occasionally sell residential properties and the wealth they control allows them to influence market rates and lobby against market reforms.
This isn't some conspiracy theory about how it's a massive organized anti-consumer effort, because it's not. What it is, is a series of natural market forces that all come together to sustain the problem because it's incredibly profitable, and any solution would immediately cut into that profitability. There's no direction to go that doesn't "harm" either builders, investors, or owners, which is why it remains deadlocked and the only government efforts attempted are toothless. Somebody's gonna have to lose potential profits, and there's not a lot of political will to make that happen.
https://journals.sagepub.com/doi/full/10.1177/00961442211029601 https://www.propublica.org/article/when-private-equity-becomes-your-landlord https://www.redfin.com/news/investor-home-purchases-q4-2021/ https://archive.is/8umYO https://www.housingwire.com/articles/homebuilders-are-pushing-through-inventory-backlog/ https://www.weforum.org/agenda/2022/06/affordable-housing-development-nimby/
So precisely the opposite of what builders want, then.
Glad to see you're a YIMBY, even if you're crazy. We'll take everyone we can get
Sure lol, the builders definitely aren't profit driven organizations that operate based on market forces. It's not some insidious thing, just a natural function of capitalism.
But yeah, we can at least agree on the YIMBYism. Out of everything, it at least provides a path forward that people can affect.
How is a builder going to make money if they aren't building lol
Capitalism works when we let it
By selling what they've built? They don't make any money while building. I don't expect you to read all of the links I offered, but at least skim them lol. Slowing completions and reducing starts keeps per unit profits high, as the alternative, cutting prices and accelerating completions and increasing starts boosts revenue but reduces per-unit profits. Small construction outfits have no choice other than continuing to work, but the larger ones can just slow expenses and refuse to move on price until they're purchased.
Capitalism just tries to make as much money as possible. That's only a benefit when human well-being and profit are aligned, and otherwise just inevitably results in monopolies if we let it.
Have another source https://archive.is/tosob
Bro your links are totally unrelated to the discussion.
This is just nonsense. Same team but like, that doesn't mean we need to interact.
Bro.
The first set were, in order, a deep dive on an investment firm and their impact on residential property, the impact of private equity on multi-family residential property, the broad spectrum impact of investors on the residential market, another article on investors driving up home prices, homebuilders drawing down production and waiting out customers at the same price, and the last is a global perspective on the housing crisis by the World Economic Forum.
If you actually read them, you'd recognize literally everything I've said. I get skipping the article on Blackstone, because it's an actual research article, but it details how Blackstone and Invitation Home would buy entire neighborhoods and then use that foundation to manipulate home and rent prices in the entire area, further improving their return on profits.
The one in the last comment was "Capitalism just working" during the pandemic lol. Which is half a joke, but to not see the relevance of the others is just wilful ignorance.