When you have investors only looking to make profits competing with people trying to carve out a life and future, your society has some systemic flaws that will eventually lead to conflict. If some have more money than they can ever spend and others cannot afford to live...
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It’s sad young individuals cannot compete to get into a house and build equity. This environment is driving prices up, they are waiving inspections and paying over appraised value. While rent continues to rise it will put the younger generation behind in many money areas.
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Rent is outrageous. When I got divorced it was difficult to find something decent I could afford. And I make a living wage. I don’t know how anyone can afford to rent anything. It’s criminal how high the prices are.
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And is it within the purview of guvmint to try to constrain this? Gawd, think how high the stock market will go when most houses are held by investment entities. Of course there will be all those social justice whiners concerned about homelessness. Of the market, by, and for.
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Federal law requires all homes to **only** accept bids from individual persons or families for the first 8 days.
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Unless they can permanently control supply, they will regret this.
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The real solution to housing: 1) stop the
@federalreserve from adding $40B/mo to their existing $1.8T 2) moratorium on non-primary residence single family home purchases 3) tax unleased real estate owned by corporations#HousingFixed -
This creates an issue for homeowners though. If those corps are not buying homes in big markets, some could end up under water... Leading to a similar crash to '08. Basically the solution is not that simple.
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Hopefully it pops
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And so what if it does? We’ll just bail them out and they’ll continue to enrich themselves.
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