alt Hacker NewsTraditionaly as in since what post redlining ban downzoning in the 1960s? No peasant was expecting their hovel to be an investment vehicle where they’d replace the doorknobs with cheaper furnishings and 10x their investment and somehow their peasant kids working peasant jobs would afford that.
I mean isn’t the whole rub the cost of housing is outpacing wages? Goes to show how short our historical perspective really is.
> No peasant was expecting their hovel to be an investment vehicle
It is not:) There had been a fortunate coincidence of factors such as economy, job market, demography, immigration from EU countries which all enabled it. That's all over now, it's gone.
What happens when all rent is extracted? We're about to find out.