Doc Edward Morbius ⭕​<p><strong>OPEC, Petrodollars, and the 1980s Homeless Crisis</strong> (2017)</p><blockquote><p>...What assets do, if those holding them have any say in the matter, is <em>appreciate</em>. After all, why not? You've already <em>got</em> the thing, all you need is for it to <em>increase in value</em>. One classic mechanism for which is to <em>constrain the supply</em>. And there are lots of ways to do that with housing: big lots, big houses, construction and zoning laws, lousy infrastructure (crime, schools, transportation). So that the limited supply that <em>is</em> attractive <em>keeps getting bid up</em>. That's one of the big changes. And it was happening <em>like gangbusters</em> in the 1970s and 1980s especially, and since.</p><p>At the same time, a bunch of the upward-mobility-escalator stuff starts disappearing. Especially factory jobs, that let high-school (or less!) educated people, and especially males, earn a solid, high-income, and really fucking reliable income....</p></blockquote><p>A thinking-out-loud piece I'd written back on G+ (hence the IA link), on how homelessness kicked off bigtimes in the US in the late 1970s / early 1980s, perhaps as housing became financialised due to A Combination Of Many Things.</p><p>Stumbled across this looking for other things (as one does) and thought it might be of interest to others.</p><p><a href="https://web.archive.org/web/20190115035057/https://plus.google.com/104092656004159577193/posts/eDscpi6Kg7L" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">web.archive.org/web/2019011503</span><span class="invisible">5057/https://plus.google.com/104092656004159577193/posts/eDscpi6Kg7L</span></a></p><p>HN discussion: <a href="https://news.ycombinator.com/item?id=43294222" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">news.ycombinator.com/item?id=4</span><span class="invisible">3294222</span></a></p><p><a href="https://toot.cat/tags/housing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>housing</span></a> <a href="https://toot.cat/tags/homelessness" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>homelessness</span></a> <a href="https://toot.cat/tags/financialisation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>financialisation</span></a> <a href="https://toot.cat/tags/finaicialization" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>finaicialization</span></a> <a href="https://toot.cat/tags/opec" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>opec</span></a> <a href="https://toot.cat/tags/petrodollars" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>petrodollars</span></a> <a href="https://toot.cat/tags/AssetInflation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AssetInflation</span></a></p>