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Cake day: January 26th, 2025

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  • I think the biggest issue is that the price of homes proportional to income isn’t what it used to be. And that causes things to keep getting worse.

    Homes cost more and people have less money so less homes are sold. This allows institutional investors to buy up larger portions of the available housing, and they prefer to rent those out.

    So that along with other factors makes home prices keep going up causing less people to be able to buy. People being forced to pay a larger portion of their income to housing causes the spiral to get worse and creeps into other industries that people won’t patronize if they need to save money.

    Landlordss being allowed free reign historically does this to countries. It happend in England and China and probably a lot more countries i am ignorant about.