Capitalism does not work. The way the “market” sorts out is out of sorts with common decency!

Clips from an article appearing today in our local Reno newspaper, the Reno Gazette-Journal (Thank you Jason Hidalgo).

Reno is experiencing something called and economic upturn and, as usual, when things get “better” it is at someone’s expense.  Interestingly, when things get bad, it usually affects the same people most badly.  The market, as those who serve the market and are served by the market explain here, people without need be made to have even less if the community is to thrive.  They do not say it, but their comments reflect the ugly truth that to thrive in a capitalist economy, some have to loose for others to gain.  In America, people have come to think that this is just the way the world works and that it is okay for some to suffer for other’s prosperity.  THIS IS INHUMANE, INSENSITIVE, AND THE RESULT OF A CONDITIONED LACK OF EMPATHY.

Clips from an article appearing today in our local Reno newspaper, the Reno Gazette-Journal (Thank you Jason Hidalgo).

“’They’re basically putting no-cause evictions on people’s doors so they can get them out to refurbish the apartments and charge higher rent,’ Whitecloud said. ‘I’ve seen four veterans get kicked out in the past three months and I’m like, ‘man I can’t believe they’re doing this.’”

“‘There is no doubt that the multifamily market is seeing a lot of remodeling activity,’ said Griffin of Johnson Perkins Griffin. ‘When you have a market that is this hot, activity typically trickles down from the Class A properties to some of the older apartments as well. This is especially true with projects being purchased by investors,’ said Griffin, whose company tracks larger projects with 80 units or more.”

“’A lot of new owners and potential purchasers of apartments are looking for a value-added component … and will complete renovations if it generates higher rent,’ Griffin said. ‘We are aware of several projects that have already undergone renovations and more are also planning on doing it.’”

“Although McKenzie remains interested in finding out what the city’s legal options are for rent control, the council member softened his tone when reached by phone on August 11. Simply broaching the subject at a city council meeting has already resulted in a couple of “unintended consequences,” according to McKenzie.”

“I know that our decision just to look into rent control has caused a jump in rents from people saying, ‘OK, if they’re going to do it, then we want to get ahead of it and raise rents up now,’ McKenzie said.”

“’Some industry experts have suggested that landlords are feeling pressured because of increased demand for units while inventory is low,’ said Abodo spokesman Sam Rabdil. ‘With homeownership rates falling, it makes sense for landlords to continue to raise pricing on their rental units, especially in markets with tighter inventory.’”

By lafered

Retired professor of education concerned with thoughtfulness

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