How Wall Street Is Killing The American Dream
Posted by freedomforall 8 months, 4 weeks ago to Business
Excerpt:
"The biggest single aspect of the American Dream is owning a home. Not only is a single-family residence (SFR) the single biggest investment most Americans will make in their lifetimes, but home ownership also is a way for people to move within the American economy. Lower-priced starter homes help people get on the real estate ladder, and move up into larger homes, if they desire, as their incomes, wealth, and savings increase.
In short, homeownership has been the key to people entering the middle class
But that’s proving more difficult these days.
There are the usual suspects for skyrocketing home prices, such as inflation and rising interest rates. Of course, there’s often buyers that are competing for the same house. But for one in four buyers of single-family homes (SFRs) in 2022, none of those factors matter.
Wall Street Wants Your Home
That’s because one in four buyers of SFRs are Wall Street investment firms like BlackRock. Unlike you and me, Wall Street investment firms have access to massive amounts of cash, pay lower prices for the houses because they buy large numbers of SFRs at one time, and benefit from much lower interest rates than the typical American looking to provide a family home.
They also have the power to drive up home prices."
"The biggest single aspect of the American Dream is owning a home. Not only is a single-family residence (SFR) the single biggest investment most Americans will make in their lifetimes, but home ownership also is a way for people to move within the American economy. Lower-priced starter homes help people get on the real estate ladder, and move up into larger homes, if they desire, as their incomes, wealth, and savings increase.
In short, homeownership has been the key to people entering the middle class
But that’s proving more difficult these days.
There are the usual suspects for skyrocketing home prices, such as inflation and rising interest rates. Of course, there’s often buyers that are competing for the same house. But for one in four buyers of single-family homes (SFRs) in 2022, none of those factors matter.
Wall Street Wants Your Home
That’s because one in four buyers of SFRs are Wall Street investment firms like BlackRock. Unlike you and me, Wall Street investment firms have access to massive amounts of cash, pay lower prices for the houses because they buy large numbers of SFRs at one time, and benefit from much lower interest rates than the typical American looking to provide a family home.
They also have the power to drive up home prices."
Kill the banking cartel and seize all the unearned profits stolen from Americans (and foreigners) for the past 110 years.