We’re seeing tent cities & massive homelessness in cities across America because a handful of Wall Street billionaires want to make a killing: Will America remove housing from their clutches?
It's not only homes wall street people are buying, it's also farms, those on the edge or not, and expanding them into insane agribusiness entities. This is the worst, just when we are trying to develop smaller, organic, healthy. etc. eco systems to correct pollution, global warming and poor nutritional health in our country.
I was just out in San Jose working. CA probably has the biggest homeless problem. Part is housing prices. Cost of living in San Jose with low wages = no housing. Plus the climate is generally good. Would you rather be homeless in Minneapolis or San Jose. There are also classes of homeless. All over San Jose you now see old beat up RV's and minivans that are lived in and never move. Some even have solar panels. Then you have the ramshackle tents and grocery carts for possessions. The city seems to accept it in some areas so long as they stay out of other areas. My solution would be government housing with very small basic rooms and develop jobs programs. Move them to places where jobs exist and housing exists. Of course it is not a one solution problem. The current USA crisis is supply chain flow and the border. Has our closing the border caused the supply chain crisis? Do we not have enough labor to pick lettuce etc? We have supported our Ponzi Scheme population growth with labor from the South. Have we cut off too much? For years we have fed our Ponzi scheme of population growth with labor from the South.
Hi Thom. I called Thursday. You expressed your sorry that "this is happening to [me]." It's happening to my friends, my daughter, her friends and people I don't even know.
It's the Low Income Housing Crisis.
As home costs go up, apartment owners see that they can ask for higher rent and get it. Home owners sell their homes, but can't afford to buy another house, basically cut their losses. They look at renting as an affordable option. These folks with higher incomes than their low income counterparts, can afford the higher rent being charged for apartments that were in the "reasonable" range.
Example: my friend was renting a tiny 1 bedroom apartment. When she moved in in 2018, the rent was $595. In 2020, the same apartment was $825. Now it's over $900/mo. She is middle class and "was" fortunate enough to buy a mobile home. Her best egg is gone, but she no longer pays as much rent.
Another friend of mine has been on disability since the 1980's. He's been very careful with money. He has to be. He has government assistance. You have to be quite low income to get that. And he's on Section 8. Apartment complexes that accept Section 8 vouchers in Michigan are becoming more and more scarce. He had to move from a pretty nice apartment to a smaller one, which is off the bus line. He's literally in a food desert in Oakland County, MI. He just got notice that his landlord no longer takes Section 8. He has 3 months to move. He's having a heck of a time locating other Section 8 units. The topper? 50% of the tenants have subsidies to live there. But the landlord knows he can fill the apartments right up. There are many higher income potential renters.
What can be done? Many apartment complex owners got funding from HUD to build/improve their properties. Put the requirement back on them; if you've taken federal money to build/improve living spaces you don't use as a primary residence, you must allocate 25% of your units as low income housing.
I own a duplex. Live in one side, rent out other. My tenant is a nice lady in her 80’s. Rented to her in 2019 for $700/mo. Last 2 yrs, property value and taxes went up by 30%. Actually doubled in last 20 yrs. I did not want to raise rent, but finally had to. Now, it’s at $725 & that is well below the market rate.
Real estate is one of the dirtiest dog-eat-dog businesses there are, not to mention it is heaven for tax cheats. Now we have let rich-bitch investors, foreign entities, and hedge funds into the game. Without a doubt, the working poor are their victims. City councils are beginning to discuss this, as is Congress. Pass this Report to your national, state and local officials. Don't forget your friends!
To produce these extremely timely, comprehensive, and accurate reports on what is happening today, with reflections on the past that are highly enlightening and eye-opening, Thom must have a staff of dozens of writers, researchers, and investigators. This is another crisis that has been building for decades and he has nailed it thoroughly. We can only hope that his insights and revelations are being widely shared and that people are listening and learning. To be truthful, I am not terribly optimistic, however. So few people are willing to read more than two full paragraphs. With what is purported to be the best school systems in the world, how can that be?
It's not only homes wall street people are buying, it's also farms, those on the edge or not, and expanding them into insane agribusiness entities. This is the worst, just when we are trying to develop smaller, organic, healthy. etc. eco systems to correct pollution, global warming and poor nutritional health in our country.
I was just out in San Jose working. CA probably has the biggest homeless problem. Part is housing prices. Cost of living in San Jose with low wages = no housing. Plus the climate is generally good. Would you rather be homeless in Minneapolis or San Jose. There are also classes of homeless. All over San Jose you now see old beat up RV's and minivans that are lived in and never move. Some even have solar panels. Then you have the ramshackle tents and grocery carts for possessions. The city seems to accept it in some areas so long as they stay out of other areas. My solution would be government housing with very small basic rooms and develop jobs programs. Move them to places where jobs exist and housing exists. Of course it is not a one solution problem. The current USA crisis is supply chain flow and the border. Has our closing the border caused the supply chain crisis? Do we not have enough labor to pick lettuce etc? We have supported our Ponzi Scheme population growth with labor from the South. Have we cut off too much? For years we have fed our Ponzi scheme of population growth with labor from the South.
Hi Thom. I called Thursday. You expressed your sorry that "this is happening to [me]." It's happening to my friends, my daughter, her friends and people I don't even know.
It's the Low Income Housing Crisis.
As home costs go up, apartment owners see that they can ask for higher rent and get it. Home owners sell their homes, but can't afford to buy another house, basically cut their losses. They look at renting as an affordable option. These folks with higher incomes than their low income counterparts, can afford the higher rent being charged for apartments that were in the "reasonable" range.
Example: my friend was renting a tiny 1 bedroom apartment. When she moved in in 2018, the rent was $595. In 2020, the same apartment was $825. Now it's over $900/mo. She is middle class and "was" fortunate enough to buy a mobile home. Her best egg is gone, but she no longer pays as much rent.
Another friend of mine has been on disability since the 1980's. He's been very careful with money. He has to be. He has government assistance. You have to be quite low income to get that. And he's on Section 8. Apartment complexes that accept Section 8 vouchers in Michigan are becoming more and more scarce. He had to move from a pretty nice apartment to a smaller one, which is off the bus line. He's literally in a food desert in Oakland County, MI. He just got notice that his landlord no longer takes Section 8. He has 3 months to move. He's having a heck of a time locating other Section 8 units. The topper? 50% of the tenants have subsidies to live there. But the landlord knows he can fill the apartments right up. There are many higher income potential renters.
What can be done? Many apartment complex owners got funding from HUD to build/improve their properties. Put the requirement back on them; if you've taken federal money to build/improve living spaces you don't use as a primary residence, you must allocate 25% of your units as low income housing.
I own a duplex. Live in one side, rent out other. My tenant is a nice lady in her 80’s. Rented to her in 2019 for $700/mo. Last 2 yrs, property value and taxes went up by 30%. Actually doubled in last 20 yrs. I did not want to raise rent, but finally had to. Now, it’s at $725 & that is well below the market rate.
Real estate is one of the dirtiest dog-eat-dog businesses there are, not to mention it is heaven for tax cheats. Now we have let rich-bitch investors, foreign entities, and hedge funds into the game. Without a doubt, the working poor are their victims. City councils are beginning to discuss this, as is Congress. Pass this Report to your national, state and local officials. Don't forget your friends!
To produce these extremely timely, comprehensive, and accurate reports on what is happening today, with reflections on the past that are highly enlightening and eye-opening, Thom must have a staff of dozens of writers, researchers, and investigators. This is another crisis that has been building for decades and he has nailed it thoroughly. We can only hope that his insights and revelations are being widely shared and that people are listening and learning. To be truthful, I am not terribly optimistic, however. So few people are willing to read more than two full paragraphs. With what is purported to be the best school systems in the world, how can that be?
55 evicted from local Apartment Complex: https://www.thedenverchannel.com/news/contact-denver7/copper-steppe-apartments-issues-10-day-eviction-notice-to-55-residents