
Unaffordable Housing
Economic Update with Richard D. Wolff
00:00
The Biggest Mistake That We've Made in the Last Two Thousand Eight
Rihanna: We need to change the relationship that we have with land and housing as a market commodity. There are many people in this country who take 50 % of their income for housing. They're buried by this process, she says. She adds another dimension that people should be allerted to. Private equity funds and hedge funds have been moving into the housing business in a big way for at least ten or 15 years now. And they'll then buy your house from you at a depressed price.
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