Thom Hartman assigns blame where it belongs:
“Both homelessness and today’s inflation are the result of America — unlike many other countries — allowing housing to become a commodity that can be traded and speculated in by financial markets and overseas investors.
“Forty-three years into America’s Reagonomics experiment, homelessness has gone from a problem to a crisis. Rarely, though, do you hear that Wall Street — a prime beneficiary of Reagan’s deregulation campaign — is helping cause it.”
And remember, every time another luxury tower goes up in New York City, your rent is that much more likely to go up as well. The realtors’ high-end, high-rise construction pushes up the cost of all housing.