Spiking Rents Threaten New Real Estate Bubble That’s Hardest on the Poor

OrwellHouse

“This is a bubble and it can’t go on forever. The arithmetic doesn’t work. This is a system that is going to break.”

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Spiking Rents Threaten New Real Estate Bubble That’s Hardest on the Poor

This was nuts. Lisa Miller’s rent was jumping a third this summer, to $600 from $450 — more than she could possibly bear.

What the Kansas City home caregiver didn’t know was that the whole central city has been going nuts. But she was about to find out.

Miller stepped into an alarming rental “bubble” that is rising over the Kansas City metro area, in both apartments and houses.

Rents have been rising at an accelerated rate over the past year — by double-digit percentages in some poorer ZIP codes — even though household incomes and developers’ costs have remained flat with inflation.

“This is a bubble and it can’t go on forever,” said Kirk McClure, a professor of urban planning at the University of Kansas. “The arithmetic doesn’t work. This is a system that is going to break.”

The rising rents strain many household budgets, but they are brutalizing families and individuals earning lower incomes.

Rest here…

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4closureFraud.org

Comments
One Response to “Spiking Rents Threaten New Real Estate Bubble That’s Hardest on the Poor”
  1. lvent says:

    CRIMINAL ENTRAPMENT is their main objective because the FRAUD INVESTORS want no one to escape their MATRIX & that’s FALSE IMPRISONMENT for the criminal wrongdoings of others.

    The PRISM PROGRAM by AIG/INFRAGUARD is one example of CONSTRUCTIVE FRAUD they use to try & cover up their SECURITIES FRAUD.

    The reason the costs keep going up is FRAUDULENT SALES like
    those DERIVATIVES they oversold interests in that were meant to ruin the economy.

    They flooded the markets with FRAUD & they tanked because of it which is proof their intent was CRIMINAL because they got bailed out for RACKETEERING with FRAUD which is SECURITIES FRAUD that is war on the U.S. CONSTITUTION.

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