Drudge Retort: The Other Side of the News

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Tknees2

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For all you wingnut neocon morons that cannot possible read an article before slagging it. I pasted part of the article for you. See, it was not the left wing policies that made for all these homeless but scumbags like your hero Reagan.
"These policies allowed the private sector to wrest control of investments in the affordable housing market, while the government slowly retreated. In 1986, President Reagan signed a housing tax credit that gave big corporations more oversight over low-income housing. By the 2000s, companies were selling off social housing -- dubbed "housing of last resort" -- for major profits.

"It's very hard for a city to compete against a private equity firm in terms of buying up land," Farha said. "Private equity firms have such a huge amount of capital at their disposal. They call them vultures for a reason. They can go in and use their power and wealth and buy up a huge amount of property very quickly."

After the global financial crisis in 2008, firms like Blackstone and Goldman Sachs began purchasing single-family dwellings and charging high rents, rendering them unaffordable for most residents. These properties were then bundled together so that shareholders effectively became landlords.

In the current market, investors in cities across the country frequently buy units and flip them into short-term rentals on services like HomeAway and Airbnb. All the while, the world's wealthy billionaires are scooping up luxury apartments, creating a demand for high-end real estate."

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