“Landlords won’t lower their rents”-- these things take time.
For sure. A market correction on landlords require businesses leaving the property and then the landlords defaulting their loans to the bank. But no matter what that still needs to happen, because an economy where we value parasitic capital over paying labor a living wage is fundementally broken.
If everyone wasn’t leveraged out of their ass, that would be fine. Unfortunately, that’s a feature of our late stage capitalism. I don’t hold much sympathy for them. though. In the end, the lenders are just another parasite on top of a parasite.
For sure. A market correction on landlords require businesses leaving the property and then the landlords defaulting their loans to the bank. But no matter what that still needs to happen, because an economy where we value parasitic capital over paying labor a living wage is fundementally broken.
I agree, but it takes a strong stomach in local government to not step in and prop up “market rates” for the benefit of banks and landowners.
Or, it requires landlords who can see that coming and adjust preemptively.
If everyone wasn’t leveraged out of their ass, that would be fine. Unfortunately, that’s a feature of our late stage capitalism. I don’t hold much sympathy for them. though. In the end, the lenders are just another parasite on top of a parasite.