One or more groups have been demonstrating in Greensboro over the last week.
One of the issues they are addressing is increased corporate purchases of single family homes. The Rhino Times has the details. This has driven the price of homes much higher.
I should note these are lefty groups. Like a stopped clock, they can occasionally be right.
Something needs to be done to stop this trend. People need to be able to buy their own homes, which has been an intrinsic part of the American dream for generations– really, since the founding.
Indeed, it is curious that nothing has been done to stop it thus far.
Addendum: It’s happening in the UK also:
I’ve been ranting about Blackrock for many years and I was ridiculed for it, even by some family members. Even if interest rates drop to the 3’s, it makes no difference when home prices are insanely high thanks to low inventory and normal demand.
You are right about Blackrock, Jan. But it’s not just Blackrock. Many corporations are getting into the act. They perceive the stock market won’t provide great returns in the future so they are getting into real estate.
This has the smell of socialism instead free enterprise.
In some respects, it does, Fred; but the government needs to intervene or it will be a situation in which only a small proportion of the population will be able to own a single family home. Corporations do not possess an inherent right to own single family homes. I think it is perfectly legitimate– and logical– for them to own multi-family apartment buildings.