POTUS 46.10: A New Hope

[Chuck Murray]

[Drew S.]

The greatest economy ever https://www.boston.com/news/local-ne...p_featurestack

[Handyman]

Ah yes...because it is somehow Joe Biden's fault that rent is so high.

Keep trolling Drew...it is obvious you have no friends so keep coming back with your BS here I am sure chuck Murray thinks you are a genius!

[MichVandal]

The greatest economy ever https://www.boston.com/news/local-ne...p_featurestack

That means demand is really high, right- econ 101- supply and demand. Which suggests that there are a lot of people moving to an area because of job opportunities. Real estate is thin at the moment, which means there are a ton of jobs creating places to stay.

Add that to the super greedy who want to take advantage of bad situations by buying up a lot of land when the economy sucked, and here we are. Mind you, the economy sucked back when dumpy was in charge.

[Jimjamesak]

Most housing in this country is owned by corporations who artificially inflate prices and lobby local governments to restrict building of new properties.

[FadeToBlack&Gold]

Most housing in this country is owned by corporations who artificially inflate prices and lobby local governments to restrict building of new properties.

They also love to whip up fear of Section 8s (thar be darky criminals gettin' a handout!) and lower property values when new developments are proposed. Which is why most of the multi-family developments you see in the suburbs and exurbs are expensive luxury apartments/condos. They take forever to fully occupy, and/or are filled by remote working yuppies & downsizing, empty nest Boomers who have the means and aren't ready for assisted living.

[SJHovey]

Most housing in this country is owned by corporations who artificially inflate prices and lobby local governments to restrict building of new properties.

I think about 2/3 of Americans own the home they occupy.

[MichVandal]

They also love to whip up fear of Section 8s (thar be darky criminals gettin' a handout!) and lower property values when new developments are proposed. Which is why most of the multi-family developments you see in the suburbs and exurbs are expensive luxury apartments/condos. They take forever to fully occupy, and/or are filled by remote working yuppies & downsizing, empty nest Boomers who have the means and aren't ready for assisted living.

One sad note for us in SE MI, many of the cheap homes Detroit auctioned off were to the large corporations, some from people who had an unjustified tax increase they could not afford- and then rent them back to people who can't afford to buy them now. That whole program to get Detroiters to own their own homes didn't exactly work out.

[Jimjamesak]

They also love to whip up fear of Section 8s (thar be darky criminals gettin' a handout!) and lower property values when new developments are proposed. Which is why most of the multi-family developments you see in the suburbs and exurbs are expensive luxury apartments/condos. They take forever to fully occupy, and/or are filled by remote working yuppies & downsizing, empty nest Boomers who have the means and aren't ready for assisted living.

That’s exactly what happens in Anchorage. The Weidner group owns nearly all the buildings with two or three bedroom apartments. When the Cook Inlet Housing Authority builds new housing it’s almost always one bedrooms with a couple of two bedrooms. Any two or three bedroom construction is always “luxury” and priced above $2k a month. You want to rent a two bedroom apartment in Anchorage that isn’t owned by Weidner? Good luck.

[rufus]

One sad note for us in SE MI, many of the cheap homes Detroit auctioned off were to the large corporations, some from people who had an unjustified tax increase they could not afford- and then rent them back to people who can't afford to buy them now. That whole program to get Detroiters to own their own homes didn't exactly work out.

Not to mention the numbers of homes bought up by the banks and big corporations after the economic bust in 2008, and now being rented for outrageous sums.

But I'm sure Drew has no problem with that. That's just capitalism at work.

[FadeToBlack&Gold]

One sad note for us in SE MI, many of the cheap homes Detroit auctioned off were to the large corporations, some from people who had an unjustified tax increase they could not afford- and then rent them back to people who can't afford to buy them now. That whole program to get Detroiters to own their own homes didn't exactly work out.

The Detroit Land Bank was a boon for flippers and yuppity whites in some trendy neighborhoods (particularly the ones around Livernois & 6/7 Mile - Uni District, Bagley, Martin Park). Not so much for long-term minority residents.

[Kepler]

The Detroit Land Bank was a boon for flippers and yuppity whites in some trendy neighborhoods (particularly the ones around Livernois & 6/7 Mile - Uni District, Bagley, Martin Park). Not so much for long-term minority residents.

This is why you either f-cking means test every program, or you have a UBI. Those are the choices. Do neither and you're telling the Poors "drop dead."

[Kepler]

I think about 2/3 of Americans own the home they occupy.

60% and dropping steadily since 2005.

[dxmnkd316]

I think about 2/3 of Americans own the home they occupy.

I thought the same thing but I think Jim is including rental in that and he's probably right to do that.

[French Rage]

https://fortune.com/2024/02/06/irs-t...reduction-act/

The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS.

Tax revenues are expected to rise by as much as $561 billion from 2024 to 2034, thanks to stepped-up enforcement made possible with money from the Democrats’ Inflation Reduction Act, which became law in August 2022.

The Congressional Budget Office in 2022 estimated that the tens of billions of new IRS funding provided by the IRA would increase revenues by $180.4 billion from 2022 to 2031. The IRS now says that if IRA funding is restored, renewed and diversified, estimated revenues could reach as much as $851 billion from 2024 to 2034.