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good 🫡 I hope nobody is able to afford so the prices of homes plummet and tens of millions of speculators lose their “investment”
like what happens in the US with healthcare costs where all the insurance companies went bankrupt because no one can afford medical care, right?
Home-ownership is hardly related to healthcare costs besides both being financialized sectors that seek rent, I’m not sure what your connection is.
That’s not how it works at all. How it works is: the bourgeoisie are buying up the houses and renting them to the proletariat. https://www.cnbc.com/2023/02/21/how-wall-street-bought-single-family-homes-and-put-them-up-for-rent.html
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Housing prices and rents always go up, because it’s mandated by state policy. Rents == Prices because home values are tied to expected rents.
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“Institutional Investors” own at most 4% of SFH rental housing, this is not total SFH just the 15% that are rented out. Corporations are a minor factor of homeowners, whom nearly all are bourgeois. No matter who is speculating, the result is the same. Rents have always risen and rises are not at all tied to the % of corporate investors involved.
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Of all SFH, less than 10% is owned by “investors” 8/10 of those are “mom and pop”.
“Corporations” are a red herring in the housing question, the fault is the bourgeois structure of US housing culture which empowers tens of millions of people to surplus value and property rights.
Y’all need to read Engels on the Housing Question, don’t tail the petty bourgeoisie on this.
- Housing prices and rents always go up
Except when they go down, as in the Great Recession. I saw even rents go down then.
I think you’re minimizing the real changes in recent behavior by institutional investors, who really are buying up housing lately. The thought that they’d buy single family homes to rent out is novel to me at least; I’d never heard of such a thing before. Just because it’s a small percentage today doesn’t mean it necessarily will be tomorrow.
Y’all need to read Engels on the Housing Question, don’t tail the petty bourgeoisie on this.
What would it mean for us to “tail” the petty bourgeoisie on “this”?
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