This isn’t about people getting a place to live, this is speculation, like Bitcoin, but with housing. There’s a mass of people buying housing to commodify it by selling it later at a huge price or by renting it out. This mass of people got scammed by housing developers who promised to deliver the apartment or house (at a good quality). Unfortunately, that didn’t happen; developers ran ponzi schemes. They used investors’ money to start new constructions and attract new investors, and stopped working on the old constructions or finished them poorly with bad materials.

This is how capitalism works unregulated. So the small investors fucked around trying to become petite bourgeoisie, and they’re finding out the beauty of capitalism.

I know this is hard to hear for Americans, but if you’re making money from being a landlord or flipping houses, you’re a piece of shit.

Bailing out these investors would be like bailing out Bitcoin “common people” investors when the “currency” crashes.

edit: grammar

if they bought the houses to live and not speculate, it doesn’t matter