OpEdNews Op Eds

A New Housing Emergency

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; , Add Tags Add to My Group(s)

Funny 1  
View Ratings | Rate It

opednews.com

Reprinted from Other Words


blmiers2/Flickr

Folks, there's a serious housing shortage in America these days. The stress it's creating for needy families is approaching heart-attack levels.

Did you know, for example, that the inventory of million-dollar homes in Carmel, California, dwindled to only four properties at one point in late May?

But the tragedy doesn't stop there. This is a national crisis. Consider the poor people in Old Greenwich, Connecticut, where only 10 homesteads in the million-dollar range were recently on the market.

It's not merely the poor and middle-class who can't find suitable housing: Many of our wealthiest citizens are hurting.

What's happening? There's a surge of multimillionaire hedge-funders, Silicon Valley high-techers, oil and gas frackers, and other super-richers. Their frenzy to snap up luxury second, third, and fourth homes is crowding regular rich people out of the market.

More disturbing is the influx of flashy Russian, Middle Eastern, and Asian tycoons grabbing high-end homes like they're M&Ms. Those foreigners are creating a housing crisis for our home-grown rich.

So, where the heck is Congress?

Why can't that immigration reform effort protect our own by taking aim at this emergency? And doesn't this luxury housing crunch just cry out for a mansion-construction subsidy? If our national leaders won't help the most privileged among us, who will they help?

The situation is so dire that many of the moneyed elites are scrounging around like commoners to find rental properties. Luckily, there are some swell homes still available out in the Hamptons, renting for about a million dollars. For the summer, that is. Yes, that's almost $10,000 a day -- not counting utilities and the pool boy's salary.

But in tough times, the rich tend to toughen up, reach for their wallets, and do what has to be done.

 

Jim Hightower is an American populist, spreading his message of democratic hope via national radio commentaries, columns, books, his award-winning monthly newsletter (The Hightower Lowdown) and barnstorming tours all across America.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
Related Topic(s): ; , Add Tags

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Trans-Pacific Partnership is not about free trade. It's a corporate coup d'etat -- against us!

The Post Office is not broke -- and it hasn't taken any of our tax money since 1971

The plutocrats who bankrolled the GOP primaries -- and what they want in return

The Audacity of Greed

Citizens United Against Citizens United: A Grassroots Campaign to Restore Democracy

Newt's denouement

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments