What if ICE raids on apartment buildings are not about immigrants, but buying up cheap real estate?

[jmbar2]

5. It is just sickening

I suspect this is much bigger than most people realize.

In the post-war US, the nation went on a building spree to replace tenements with quality housing affordable by the masses. In the 1990s, builders were incented to build modern low-income apartment complexes using Low Income Housing tax credits. They had to keep rents pegged to a percentage of wages for 30 years, and then they could sell them or convert them to market rents.

LIHTC waiting periods are now coming to an end and most of the remaining income-based housing is being bought up by private equity, or flipped by speculators.

The US has not had meaningful housing development for working people in decades. European countries like Austria and Finland have continued to build affordable housing, reducing homelessness. America is destroying the last of its affordable housing stock because rich people think they need more, more more.