To Steele Man here I guess: If housing becomes too ridiculously expensive it locks a lot of lower income consumers out of the market, meaning you can't extract value from them. There's a lot of money to be made selling stuff to the poor, that's why Walmart and McDonald's are successful. No capitalist makes money off of someone living in a tent under a bridge. So really the big capitalists would probably love an opportunity to throw up the capitalist version of Commie Blocks to milk the working poor of their meager wages, but they're blocked from doing so because the petite-bourgeois-real-estate-owners benefit from a housing situation where they can charge college students 3000k a month for a studio with no AC.
To Steele Man here I guess: If housing becomes too ridiculously expensive it locks a lot of lower income consumers out of the market, meaning you can't extract value from them. There's a lot of money to be made selling stuff to the poor, that's why Walmart and McDonald's are successful. No capitalist makes money off of someone living in a tent under a bridge. So really the big capitalists would probably love an opportunity to throw up the capitalist version of Commie Blocks to milk the working poor of their meager wages, but they're blocked from doing so because the petite-bourgeois-real-estate-owners benefit from a housing situation where they can charge college students 3000k a month for a studio with no AC.