• UnderpantsWeevil@lemmy.world
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    2 months ago

    Someone can afford the home you’re in.

    I’ve got half a dozen units on my block that are selling above the clearing price. They’ve been vacant for years. This is speculative real estate. The only people who can afford it are the developers and investors looking to accumulate housing stock on the gamble that someone will be able to pay the markup at some point in the future.