There’s a battle for America’s spirit and global civilization’s destiny. Corporations and workers will soon fight. Housing causes fights. Who should own all the homes is an issue. I’m old-fashioned enough to think everyone deserves a legally inexpensive house, but not private profits for trillion-dollar enterprises. Unfortunately, businesses are winning and just getting started.
Corporate land-landlording is simple and terrible. Invest billions from individuals who earn money doing nothing. Ask your banking pals for cheap financing to turn billions into tens of billions. Buy properties online without seeing them. Outbid workers with cash. Working families may rent the properties for more than they spent to acquire them.
By keeping the number of properties on the market low, speculators not only steal rent from renters, but their portfolio prices soar (and inflation, of course, is just another way to rob the poor.) The structure that permits corporate landowners to obtain billions of dollars via rent-serfs is called: Monopoly.
They utilize a residence as a hostage to collect interest from troubled borrowers. Renting is stealing. Adam Smith, who developed modern capitalism, detested rent-seeking because it affects society and goes against judging individuals on their own talents.
Rich landowners stole $2.7 trillion from working people last year using this legal monopoly. Institutional investors are lured to the money pot like bees to honey, expecting to control billions.
Building a profitable, helpful company requires a lot of effort. Institutional landowners lack work ethic, innovation, and intelligence. It’s simpler to profit from people if you let them develop a society but don’t allow them own houses.
Maybe looking back can help us understand what’s happening: Before 2008, few firms leased single-family dwellings. When irresponsible bankers led 6 million American households to lose their homes, vulture capital companies ate up the foreclosures.
The post-pandemic bubble is collapsing because corporations produced inflation, which raised interest rates and made items too costly to purchase, so private equity sees another opportunity to take advantage of the masses.
Homeownership rates are still below where they were before the 2008 catastrophe, and we’ll see the same thing with private equity home purchasing. We must stop institutions from taking control. We know about 2021’s last three months. Institutional investors acquired over 20% of US houses in the final three months of 2021. It’s insane.
A heartless, anti-human company acquired one in five U.S. homes. 32.7 percent of Atlanta’s residences were acquired by companies.
They acquired 31% of Charlotte’s houses. They acquired 27% of Las Vegas, Phoenix, and Miami residences. In America, these vast funds spent $50 billion in three months to acquire more than 80,000 single-family homes (75 percent). 75% of these trades were cash purchases. Almost all were converted into rentals.
In three months, 80,000 households went from owning to renting. Three months after taking over a need, their excessive rents are killing 80,000 households.
So much for capitalism being more “efficient” The extraction class buys working folks’ houses and builds new rentals. Instead of offering contributors an opportunity to purchase a house and a reliable means to save against inflation, single-family dwellings developed for rent rose 16% in 2021.
Over 51,000 residences have been rented instead of sold. Investors purchased 92.1 percent of all new houses constructed in an impoverished Canadian community last year. No individual may own a house. How can local families compete with trillion-dollar shelter monopolies?
If bankster-backed predator firms keep monopolizing housing to impose usury, the typical home price will exceed $10 million in our lifetimes.
Cincinnati, where two-thirds of the population rents, is horrible. In a dismal effort to provide cheap homes for locals, the city is offering bonds to investors to outbid businesses for local housing stock. They bid up housing prices to earn affluent investors more money, leaving their own people worse off.
How will your kids escape swindlers? It’s obvious. Never.
Monopolizing shelters turn everyone into serfs. It’s simple to make homeownership affordable for all generations:
First, we must ban institutions from funding home-renters. We don’t have to outlaw it outright; we can merely tax unearned rent-seeking income and portfolio appreciation at 100%, plus 100X their land taxes, and use the money to create additional owner-occupied-only homes. Why shouldn’t investors and Airbnb tenants pay to replace properties they remove off the market?
If we did anything as “radical” (read: wise) as this, rent-seeking investors would leave the market and spend their money elsewhere, preferably in a firm that serves people, but let’s not hold our breath.
Second, we need tens of millions of private residences. People from over the globe have given me close to 100 messages, comments, and emails expressing the same thing: they have enough money to purchase a tiny plot of land and construct a basic eco-home, but nasty zoning officials won’t allow them.
If governments cared about climate change, they’d enact the Homestead Act. This would enable anyone to construct one (1) ecologically friendly dwelling on any field larger than a quarter-acre. Millions more WFH households may abandon unsightly cities and the rentier class. It would bring people closer to the land and improve our countryside’s appearance.
We could compel zoning boards to allow only-for-owner-occupiers projects. This would restore communities that profit-seekers wrecked. The best would be something forever, thick, and person-sized: Everyone deserves safe, affordable housing.
Profiting isn’t. Always inexpensive housing: Replace renters with homeowners. So easy! If housing exploitation ceases and there are enough houses to suit actual people’s needs, prices will swiftly return to 2–3 times a worker’s median yearly pay.
We shouldn’t squander generations’ lives to enrich bankers and landowners. Instead, we can improve family trees if we disrupted the current globalists’ takeover.
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