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this post was submitted on 03 Jan 2024
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Investment firms buying and holding homes are, by definition, homeowners, making them part of the problem. People who are trying to buy a home are having to get into bidding wars with investors, who are buying 1/4 homes sold in the last ~9 months.
Renters looking to buy a home are mad at investors who can buy up inventory with cash (which in this context I'm including individuals buying up single-family houses to rent out, not just companies), and afford to leave the property vacant rather than accepting less profit by lowering the rent on it.
People trying to buy groceries are mad that wages increased 4-5% in 2022 while Tyson chicken prices went up 20% in 2021, and then in 2022 agreed to pay over $220M for price fixing while reporting $6.5B in profit that year.
When you have unlimited corporate dark money going into politics, you get a government that seeks to obfuscate the issues to keep the population blaming the wrong things, to keep the money flowing into their "campaign funds."
I don't disagree with that. And I'm in the minority of homeowners who do try and vote for making things more accessible knowing it will increase my own tax burden to pay for it, because I will benefit from having a more stable society around me even if my house doesn't appreciate another $100k.
This only happens because we already have such a shortage that there is guaranteed ROI.
Same dude! We just gotta keep trying to change more minds.