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 ...
Elitist/globalist Larry Fink and Blackrock are behind many of these home purchases,
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.
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Does the video explain how the repeal of Glass-Steagal made this possible?
And then the institutional investors package the “mortgages” into mortgage backed securities and sell them to the Fed which is fanning the inflation fire.
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.
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.
If you read the video description, you should find your answer there.
If you have problems, let me know and I’ll help.
Yes, I clicked the link and read more, it looks good, hoping to watch tomorrow.
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