"We have seen corporate landlords—who own a larger share of the rental market than ever before—use inflation as an excuse to hike rents and reap excess profits beyond what should be considered fair and reasonable."
Foreign investors and real estate speculators are squeezing the middle class dry. The only options out there if you don’t want to live in the middle of bumfuck nowhere are either really really old properties, really really shitty properties, or too far above your means to be able to afford it.
Renting should be the most affordable option, yet if you actually look at the numbers, you are paying almost as much as the value of an entire mortgage with one monthly rent check in some areas. Properties built in the 60’s that are falling apart and lacking modern amenities should not be going for $2,500/month, but that’s the reality I live in right now. I’m on the fucking brink and I’d do anything to have a chance at climbing on the real estate ladder right about now. I don’t care if my house never gains a cent in value, at least it would be mine.
It’s been the case in my town for decades that a mortgage is much less expensive than rent. The only way renting makes sense if you don’t plan to live here more than a few years or don’t want to deal with maintenance and taxes.
Foreign investors and real estate speculators are squeezing the middle class dry. The only options out there if you don’t want to live in the middle of bumfuck nowhere are either really really old properties, really really shitty properties, or too far above your means to be able to afford it.
Renting should be the most affordable option, yet if you actually look at the numbers, you are paying almost as much as the value of an entire mortgage with one monthly rent check in some areas. Properties built in the 60’s that are falling apart and lacking modern amenities should not be going for $2,500/month, but that’s the reality I live in right now. I’m on the fucking brink and I’d do anything to have a chance at climbing on the real estate ladder right about now. I don’t care if my house never gains a cent in value, at least it would be mine.
It’s been the case in my town for decades that a mortgage is much less expensive than rent. The only way renting makes sense if you don’t plan to live here more than a few years or don’t want to deal with maintenance and taxes.
If foreign investors were a serious issue, local legislation would have already solved the issue. This is all about domestic greed.