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Buying Out the American Dream
American Thinker ^ | 8 Jun, 2022 | J.B. Cohle

Posted on 06/08/2022 4:09:33 AM PDT by MtnClimber

Institutional home purchases are pricing potential homeowners out of the market.

Homeownership has customarily been one of the core and fundamental pillars of the American dream. The financial benefits that accompany homeownership are plentiful and include the ability to accumulate wealth, access to credit, the accumulation of long-term savings over the cost of renting, and the potential reduction in housing costs through mortgage interest deduction. Home, and other asset ownership conventionally improves the well-being of families by empowering them to increase their prosperity and delegate wealth to future generations.

SNIP

In the first quarter of 2021, one in every seven homes purchased were made by an institutional investor (asset managers, pension funds, foreign sovereign wealth funds). Among other things, this prices perspective middle-class homeowners out of the marketplace. HousingWire reported that investor purchases of single-family homes in 2021 rose 4.8% year over year in the first quarter, while investors maintained the largest market share in the multifamily sector by buying 25.8% of multifamily properties that sold. Investors acquired the largest share of lower-priced homes (20.8%), compared to 12.5% of high-priced homes and 11.3% of mid-priced homes. These investors typically pay in cash and often 50% above the asking price, while devouring entire neighborhoods by transforming them from middle-class homes into rental properties.

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Society
KEYWORDS: communism; corporate; homeowners; homeshortage; housing; residential; residentialshortage

1 posted on 06/08/2022 4:09:33 AM PDT by MtnClimber
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To: MtnClimber

Elitist/globalist Larry Fink and Blackrock are behind many of these home purchases,


2 posted on 06/08/2022 4:09:44 AM PDT by MtnClimber (For photos of Colorado scenery and wildlife, click on my screen name for my FR home page.)
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To: MtnClimber

Here’s a short clip (4 minutes) that lays it all out.

https://newtube.app/user/Hostage/aZXdOqd

For those interested in history, the cause and effect are centered on the 1999 Repeal of Glass-Steagall.


3 posted on 06/08/2022 4:14:10 AM PDT by Hostage (Article V)
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To: MtnClimber

p


4 posted on 06/08/2022 4:32:04 AM PDT by gattaca
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To: Hostage

Does the video explain how the repeal of Glass-Steagal made this possible?


5 posted on 06/08/2022 7:03:22 AM PDT by boxlunch (10th Amendmt: nullification or Texit? PS We're in a hot war: globalists, CCP, media, Dems, RINOs)
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To: MtnClimber

And then the institutional investors package the “mortgages” into mortgage backed securities and sell them to the Fed which is fanning the inflation fire.


6 posted on 06/08/2022 7:32:17 AM PDT by Valpal1 (Not even the police are safe from the police!!!)
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To: MtnClimber

And the good news is if the market ever crashes and wipes out these companies they will be bailed out by the tax payers. It’s win win. You’ll own nothing and be happy. Or not.


7 posted on 06/08/2022 8:32:27 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: MtnClimber

More like selling out the American Dream to the highest bidder or those with wads of cash in hand. Practically noone questions motive and/or does any research into the buyer(s). They readily accept the benjamins and walk away whilst whistling past the graveyard.


8 posted on 06/08/2022 9:40:12 AM PDT by LastDayz (A blunt and brazen Texan. I will not be assimilated.)
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To: boxlunch

If you read the video description, you should find your answer there.

If you have problems, let me know and I’ll help.


9 posted on 06/08/2022 10:14:56 AM PDT by Hostage (Article V)
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To: Hostage

Yes, I clicked the link and read more, it looks good, hoping to watch tomorrow.


10 posted on 06/08/2022 9:23:01 PM PDT by boxlunch (10th Amendmt: nullification or Texit? PS We're in a hot war: globalists, CCP, media, Dems, RINOs)
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