CocaineSlippers t1_jcyumx1 wrote

You also need to account for the increase in access to inexpensive money. The cheap and easy loans drive additional demand by allowing more participants into the marketplace who wouldnt have been able to buy before, and simultaneously empowering those already in a position to purchase to spend more.

Run this up alongside the fact that were not building new housing at any significant pace, and you get back to what i was saying about supply and demand.

Not enough houses to meet demand. it's that easy.

They raise rates hoping that they can kill demand, but the reality is that even at increased rates its still sensible to buy the house with fixed rate debt, because those who carry fixed rate debt in an inflationary environment will see the real costs of repaying their loan decrease.


CocaineSlippers t1_ja8kpsy wrote

Reply to BIPOC yoga? by [deleted]

Lmfao this has to be trolling. OP has mastered post-ironic thought. BIPOC yoga to escape the semantic gentrification of the west end? Get me off this earth, im belly laughing right now.


CocaineSlippers t1_ja8jw7z wrote

Why so much hate here for AI generated images? The technology is super cool, easy to use, and ends up spitting out unique and pleasing stuff like this. I have art hung in my home that i generated with AI. Not everything these image generators create is a knockoff you know...


CocaineSlippers t1_j4y0sl4 wrote

Even if 40% of them were locals moving up the ladder, it's still better than nothing. Rental arbitrage opportunities around here are nearly nonexistent, can you substantiate their impact on the local market or otherwise prove that arrangement is an issue? Typically the subletting you see going on around here is student housing that's by the room.

The likelihood that the condo association would be originally constructed to permit short term rentals in a brand new luxury build is very slim.

You cant write off vacancies as they are not an expense. Rental vacancies are marginal in RI, and there is a supply/demand imbalance in the retail market that requires no explanation...

People need to get over it and let growth happen so we can move this city forward.


CocaineSlippers t1_j3dujpf wrote

You are delusional.

^our state is dead last in terms of absolute permits for new construction issued, never mind Providence specifically. We build essentially nothing, and our housing stock is basically ancient on the average.

More housing supply is more housing supply. We need it. If "luxury" units are what are built, so be it.