party_pants said:

dv said:

BAWC

Re-writing history.

Most of these houses were built as speculative assets, not as places to live. People bought them to hold onto them for a while and resell later, not to rent. Renting them out was seen as a loss because of wear and tear and renovation costs. A classic bubble market. it was inly when the housing bubble started to collapse and developers went broke they decided to convert these speculative assets into living housing stock. This was an afterthought, many people lost their life savings in the turmoil.

What is the purpose of houses?