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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Anybody can start a brokerage account and start investing in REITS which are some of the ones buying up and renting houses. You can start a child out young add to it on birthdays and by the time it comes to afford a home the dividends will make a rental payment or a house payment investigate REITS, Read Seeking Alpha an app. that can teach a person how to invest early
First. let me acknowledge: I know I am a product of the culture in which I grew up. OK!
The basic unit of a society is the family. It provides the adults with a partner to love and by whom to be loved, fulfilling a basic human needs.
God created the unit as one man and one woman. A product of that love is children, who are the future for the society.
When people own a home it builds them in self-responsibility and they are blessed with the satisfaction of ownership as well the joy of seeing what they accomplish. There is a pride that is not present when renting, and I feel it makes people stronger. Growing up I observed the differences between one set of grandparents that rented, and on that owned. The equity from an owned home is a resource, both during the ownership and when life ends.
Conversely when ownership is with large corporations, the people living in the homes often don’t receive what the need (e.g. timely repairs) or desire (improvements).
Government intervention – It has always been with us since the government began programs to aid home ownership.
Not being a legal eagle, I don’t if anti-trust legislation would help?
Just like small business needs protection, so do home-owners.
This is getting a bit long, so I will close here but am willing to respond to comments or questions. Remember, though, I am just a simple citizen, and not a guru or genius. Thanks for reading.