Wall Street is buying up the American Dream and renting it out. They are coming for your home, but there is no simple answer as to how to handle it.
“It’s their goal to own the American dream and rent it back to the rest of us. What a nightmare. It’s a scenario that would frustrate anyone looking to invest in their first starter home or a growing family hoping for an extra bedroom or a yard. First-time home buyers feel it’s just out of reach for them.
“The typical US home sold for a record-shattering 468,000. That’s not affordable for most Americans. We have not invested as a nation in building the supply of housing in a variety of communities, in a variety of different price points,” says Cash Jordon.
“A recent New York Times investigation found that in Charlotte, NC, Wall Street investors with all-cash offers accounted for 17% of all home purchases, so it seems there’s a new villain in town who’s coming for your home, but is it Wall Street, or is there more to this story than evil investors pricing out the little guy and renting him the American dream for more than he can afford?”
Wall Street could own 40% of the home rental market by 2030. People can’t afford to buy homes so companies are stepping in, and it might be bad for the country.
Cash Jordon delves into the question. The pluses and minuses of government intervening will leave you with two questions. On one hand, people say the government should step in and kick these companies out. On the other hand, should they just let the market do its thing?
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