Why are housing costs rising so quickly?
I was once a realtor, and I’ve watched the cost of home ownership rise over the years. At one time it was a slow but relatively steady rise, but now it is moving much, much faster.No one ever investigates just how much money has been falling into the developers’ pockets. There are land costs, building costs and borrowing costs researched, but never profit margins. Nor is there any mention as to exactly who the profits are going to.
Risk is sometimes mentioned, but never in-depth. Risk is why each development uses a separate company for each building, so that when something goes drastically wrong, only one part of the umbrella company is endangered. Hence the limited liability and the maintenance of the profit margin. Our investigative media no longer investigates; they are an arm of advertising.
France Dernières Nouvelles, France Actualités
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