A reason that the prices of rentals and houses are skyrocketing is the push by big real estate companies and equity firms buying up houses and rental properties so they can FORCE higher prices, which will increase homelessness over time. Sherrod Brown and other Democrats have introduced a bill to restrict these companies from raking in b…
"equity firms buying up houses and rental properties so they can FORCE higher prices, "
Barbara, thank you. This is going on in every city in America. I heard from a reliable source in Houston that 80% of homes purchased inside the city of Houston over the last year were by hedge funds.
Hedge funds buying single family homes to turn them into rentals are driving up both purchase prices AND rental prices.
I note: This is exactly what killed mid size and small American manufacturing.
Bain Capital (Mitt Romney's source of wealth) went around buying small manufacturing in mid size American towns and then fired everyone and parted out all of the equipment and negotiated offshore contracts.
Disgusting. But, five or so white guys got morbidly rich so it is AOK in Amurca.
We're 15 miles from Acadia National Park and half the homes in our town are weekly or daily rentals. In the winter months landlords can make as much in a week as they can by renting it for a month. Why bother renting for a month?
Our county would have no housing issues if half of the rentals were turned into year round homes. But as long as 3.75 million visitors come to the park every year, this problem will persist.
Some of the hotels have built housing for their staff otherwise they can't get summer help..
So, yeah it's mostly white guys, but you don't have to be rich to buy a double wide trailer and rent it out for $300 a night.
Every time you see one of those signs tacked to a telephone pole "I buy houses for cash!" that's some local real estate shill working for the private equity hedge funds. they now own 50% of all single-family homes in America - jack up the rents and downplay the services.
A reason that the prices of rentals and houses are skyrocketing is the push by big real estate companies and equity firms buying up houses and rental properties so they can FORCE higher prices, which will increase homelessness over time. Sherrod Brown and other Democrats have introduced a bill to restrict these companies from raking in big tax breaks by doing this. Here's the info: https://www.banking.senate.gov/newsroom/majority/brown-colleagues-introduce-bill-crack-down-big-corporate-investors-buy-up-local-homes-drive-housing-prices#:~:text=%E2%80%93%20Today%2C%20U.S.%20Senator%20Sherrod%20Brown%20%28D-OH%29%2C%20Chair,often%20driving%20up%20local%20housing%20prices%20and%20rents.
"equity firms buying up houses and rental properties so they can FORCE higher prices, "
Barbara, thank you. This is going on in every city in America. I heard from a reliable source in Houston that 80% of homes purchased inside the city of Houston over the last year were by hedge funds.
Hedge funds buying single family homes to turn them into rentals are driving up both purchase prices AND rental prices.
I note: This is exactly what killed mid size and small American manufacturing.
Bain Capital (Mitt Romney's source of wealth) went around buying small manufacturing in mid size American towns and then fired everyone and parted out all of the equipment and negotiated offshore contracts.
Disgusting. But, five or so white guys got morbidly rich so it is AOK in Amurca.
Same with Mnuchin and God knows how many more parasites
We're 15 miles from Acadia National Park and half the homes in our town are weekly or daily rentals. In the winter months landlords can make as much in a week as they can by renting it for a month. Why bother renting for a month?
Our county would have no housing issues if half of the rentals were turned into year round homes. But as long as 3.75 million visitors come to the park every year, this problem will persist.
Some of the hotels have built housing for their staff otherwise they can't get summer help..
So, yeah it's mostly white guys, but you don't have to be rich to buy a double wide trailer and rent it out for $300 a night.
Every time you see one of those signs tacked to a telephone pole "I buy houses for cash!" that's some local real estate shill working for the private equity hedge funds. they now own 50% of all single-family homes in America - jack up the rents and downplay the services.