this post was submitted on 21 Aug 2023
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Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[–] ThisIsMyLemmyLogin@lemmy.world 59 points 1 year ago* (last edited 1 year ago) (4 children)

No. As the effects of climate change become worse, people will migrate to cooler places, which will only push up prices in those places. Poor people will be left to live in uninhabitable and uninsurable areas, while the rich will get to live in comfort.

Climate change is essentially a class struggle, like everything else in life. As long as the 1% don’t have to suffer, nothing will be done. To get the rich to do something about climate change, it will have to affect them directly.

[–] dingus@lemmy.world 3 points 1 year ago (1 children)

I'm in a hot climate and it's far more expensive here than it is in cooler parts of the country, and it continues to be that way. Your hypothesis would be for the distant future, but that's not what's driving costs right now and in the immediate future.

[–] IsThisWhereWeGoNow@lemmy.world 12 points 1 year ago* (last edited 1 year ago)

Sure, but the premise of the question is if "we will ever have affordable housing again in our lifetime?" There is no reason to believe there will be affordable housing right now or in the immediate future, and this comment hypothesises why climate change will cause affordable housing to continue to be problematic in the distant future as well.

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