I completely agree, but we need much stronger rent and ownership laws, as well as public housing. Companies are bulldozing low income housing, building shiny new apartment buildings, and using algorithmic rent to empty out most of the apartment complex and keep prices artificially high across a city.
It’s so terrible, because the end result is a lot of half empty apartments downtown, and normal people effectively getting pushed to suburbs because there’s no way most people could afford an apartment that costs $4k a month. For low income people, it’s even worse.
Even just having some (30%) mandatory $500/mo rent apartments in all new construction over 30 units could help.
I completely agree, but we need much stronger rent and ownership laws, as well as public housing. Companies are bulldozing low income housing, building shiny new apartment buildings, and using algorithmic rent to empty out most of the apartment complex and keep prices artificially high across a city.
https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
It’s so terrible, because the end result is a lot of half empty apartments downtown, and normal people effectively getting pushed to suburbs because there’s no way most people could afford an apartment that costs $4k a month. For low income people, it’s even worse.
Even just having some (30%) mandatory $500/mo rent apartments in all new construction over 30 units could help.
I think we need a LOT more of this kind of housing, to make housing as affordable as possible for everyone.