Monday, March 05, 2018
"My 10 Year Odyssey Through America's Housing Crisis", in Alabama
Ryan Dezember has a booklet-length Saturday essay in the Wall Street Journal, “My 10 Year Odyssey Through America’s Housing Crisis.”
A lot of issues here: living on the Gulf Coast with hurricane risk; flipping of property, subprime risk, do-it-yourself mentality, and a young man prepared to deal with all this as long as he had no dependents.
There’s also the problem of renting to unstable tenants who squat if they can’t afford anything And the way abandoned property around deteriorates and smells.
I remember a Dr. Phil episode with a young couple who thought they could skip education and get by flipping houses with a baby on the way, back in 2006.
It’s all raw capitalism.