Lack of new construction and corporate landlords contributing to skyrocketing rent

Lesley Stahl reports on how lack of construction in the 2010s has created a nationwide housing crisis, and opportunistic Wall Street firms have stepped in.
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[@scl9153]

The fact that he even had the audacity to claim that millennials don’t want to own homes or cars shows how disconnected he is with reality! This is so shameful!

[@bowedpsaltery]

World Economic Forum - it's their persistent goal - that we own nothing. New World (dis)Order

[@reach3k]

OMG what a terrible person.

[@eckankar7756]

He's pushing his agenda trying to sway the public that he's not the enemy, but he is. How did this country allow this to happen, affordable homes snatched up by corporations.

[@leetcodeking4859]

Please share to family and friends. We need to get the word out.

[@robertbell525]

Depends on who you're dealing with. These are people who want a lifestyle as he says. They are basically lazy but have just enough to make the rent. Those who are willing to get their hands dirty can still find homes. You're going to pay either way. Either up front for it to be nice or over time as you fix it up. There is never a "good deal" in real estate.

[@1966marmar]

I’m a Realtor in the “sunbelt” Winston-Salem/Greensboro area and it’s heartbreaking when I see these huge companies coming in and scooping up all of the starter homes. I applaud all of my sellers who after being properly informed decide NOT to sell to an investor. I have fought for and won many houses for millennials and that is some bull about them wanting to rent a lifestyle. They are smarter than that. They are being forced to rent.

[@Thegoodlife4me]

Glad you’re sticking up for the buyers that want the AMERICAN DREAM❤️

[@PeachShortcake_]

Thank you for this. We can't take down the system, but we can make small steps like this 💖

[@sprague49]

I wish corporations would start scooping up and renovating homes in Montgomery AL. Especially the ones that are abandoned and boarded up. No housing shortage here just lack of TLC. No jobs shortage either.

[@supermodelatlanta1354]

I get calls emails mail text to sell. I rather burn it down . Thanks

[@CarnivoreStork]

Not a peep from anyone when Count Dracula, I mean Bill Gates bought Up to 250,000 acres of farms. 👀

[@abic5468]

"You can rent the American dream now" I don't think a response has ever made me so mad.

[@andrewr439]

We’re out here fighting each other when these corporations are screwing us. This issue is something that we can all agree on. Makes my blood boil

[@calicocatsassy6318]

Especially when a Canadian is saying it!

[@rippindrummer666]

I’d love to see the palace that this dude lives in

[@KITTYKITTYBO]

Yep “you will own nothing and be happy“look that up if you don’t know what I’m referring to…

[@nicholasdugdale]

Likewise, thats some F'd up stuff. Keep corporate america out of family home ownership.

[@scottarmstrong11]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[@Johnlarry12]

I get such worries too. I'm 50 and retiring early. Already worried of the future and where it’s headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

[@emiliabucks33]

Personally, I can connect to that. When I began working with “Christine Jane Mclean” a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.

[@suzannehenderson5]

Please how do I connect to her? My funds are being murdered by inflation, and I'm looking for a more profitable investing strategy to put them to work.

[@emiliabucks33]

She covers a wide range of subjects, including insurance, retirement planning, investing, and coming up with methods to reduce investment risk volatility. You may look up her full name on the internet. She is popular. Therefore, locating her official website shouldn't be too difficult.

[@busterbiloxi3833]

Gee, that’s too bad. Plan your life better. Smarten up. Stop complaining. And most importantly - shut the hell up!

[@elizabethdangelo1354]

I’m downsizing and have my house under contract, but before even going to the market I got an offer. My realtor asked me if I’ll be willing to hear an offer from a young couple, both veterans, with two kids and moving from another state. They offered the asking price and I accepted it. I’m happy to know that my lovely house is going to be the home for this family. I’m a single mom and the probability of getting more money than the asking price, was very appealing but I followed my heart. Not everything in life is about money, be happy with what you have and grateful for what you are able to give.

[@car2029]

Thank you for being such a good person. My friend did the same thing. Was at the open house & wasn’t introduced as the owner. She saw a young couple with 2 kids. She heard them saying someone else will out bid us. She struck up a conversation & met the children. Called the realtor over & said I’m selling my house to them. My brother & I lived here together neither one of us married. He passed & I’m retired. This house was to big for us. It will bring me great joy knowing that such a young family will be living here. She said the wife was crying & crying. Husband kept telling her OMG is this for real. She made sure it went to them. They keep in touch with her.

[@harrycee656]

Some people are also flipping houses for a profit. Live in it for 6mo and bang make 40k. It is great to hear people helping people. Greed is human nature but the level corporations take it is too far.

[@treesnmoguls]

Appreciate your sentiment, but it's not the corporate investors driving this market, it is the federal reserve pumping up the economy WAY MORE than it is the "greedy investors". The "greedy investors" in part are seeking YIELD that they cannot find in the marketplace (such as in bonds...) because of THE FED and it's OVER PRIMING.

[@homebythesea9301]

This happened to us. My sister and I had dreamed of buying a home in the OBX together in 2020. An investor bid against us sight unseen. The seller picked a family who does not rent.

[@dcg590]

I think you’re wonderful! 😘

[@jovandraganescu1406]

A company, let alone from another country being able to do this here in the U.S is disgusting

[@mentuhotepii2641]

Capitalism baby! It's super cutthroat, I love it!

[@dontbanmebrodontbanme5403]

Why? I thought you guys hate socialism. Hugo Chavez, Venezuela, blah, blah, blah, you don't wanna be commies or socialists, right? Well, THIS IS CAPITALISM!! You just don't like it because now, the wrong people are losing the game.

[@ocampbell1954]

The Chinese did that in San Francisco

[@TrollinOn22s]

You complained when we had rent control in the 90s now deal with the outcome. How dare the government tell me how much to charge 🙄 Now deal with the not so free market.

[@101theobserver]

Welcome to capitalism

[@SolarPowerMyRV]

“Most young people can’t afford a home mortgage, so we charge them more than a mortgage to rent the American dream”

[@puppyrex1789]

yep 100% Bull Sh** this should be Illegal

[@bbtank3000]

"It's called the American Dream because you have to be asleep to believe it."

[@thirdborn_sentinel]

That's what he's saying 👏

[@whooelse9444]

I rather live on the street than to pay that.

[@lindakincaid4530]

yep we are going to make sure they dont save up for a home. they need to by a an RV and off the grid for a while.

[@hud86]

What bothers me the most, having worked in construction, is that the new houses, while looking nice with nice appliances, are so poorly built I wouldn't expect 20 years without major upkeep cost getting you.

[@user-gz4ve8mw9l]

Capitalism by design they are as cheap as they can be to build them in the USA. Wasn't always the case unfortunately. European houses and houses around the world are constructed to higher quality standards. Just take a look at how schools and other buildings are constructed in the USA. They cut as many corners as they can here in the USA. Unlike other countries as all that matters to any business is profits.

[@gracewheeler3347]

Totally agreed! All the newly built houses look just like my apartment I live in, and our maintenance guy literally told us they built these as cheap as possible. He said that anything that doesn't get replaced in a year or so breaks on it's own. He was replacing our screws that broke and made our blinds fall out of the wall. 😂😭😭 And that fake plastic vinyl floor is so ugly, bad choices all around

[@LaurenceHoneytoast]

Cookie cutters they are junk.

[@whatsleft100]

Absolutely . Having grown up in a 100 yr old house, then rented new build "luxury " hamster cage apartments . There is no way id ever buy a house/flat ( if I could) that is a new build . Building regulations aren't high enough . We now have a national concrete scandal in the UK that could have been avoided in the first place by using better materials or replaced within the 30 yr replacement window .

[@wesleyratko7830]

I've been watching 60 Minutes for more than 30 years. I can't remember the last time a story you guys did that made me THIS ANGRY.

[@innovatingtechnologist5385]

They were clearly paid off by this "investor". I am disgusted with Stahl and 60 minutes. I hope they go bankrupt.

[@kbanghart]

@@innovatingtechnologist5385 lol

[@keithb1687]

@@innovatingtechnologist5385 why blame the reporting? They did a good job. She’s supposed to appear unbiassed so that the person interviewed will fully express himself and not hide his BS. Definitely makes me angry though. Bc I want to get a home.

[@simonespanu7768]

@@keithb1687, exactly. She essentially let him dig his own grave. He sounded like a crook.

[@tarawalton6778]

AGREE!!💯

[@demi.chimera]

This should be illegal. Companies like Tricon are literally one of the reasons people can’t find or afford starter homes.

[@Gizziiusa]

the global top 1% OWN 80% of the worlds wealth. So, whats left for them to "conquer" you ask ??? that last remaining 20%. Homes. buy up most/all of the homes. Black Rock in one of the main culprits.

[@SusanBeeryBuck]

Agree

[@finddavid]

Exactly. They say, "investors only control 2% of the market"... Well that 7 million homes would be plenty to house the 4 million we need. A-holes.

[@Starfish2145]

Exactly

[@poeticjust3004]

Remember when we all laughed at Martin Shkreli thought he was a joke when he bought wutang's album and mocked the musicians, now we are all being played by a Martin Shkreli, corporate criminals with billions who have no morals holding on to our housing

[@MauricioLorenzetti]

This is what happens in a country where politicians are in Wall St. pockets. Student debts, medical debts, housing debts, .... anything debt goes.

[@whyputaname]

So True..

[@infantebenji]

facts its so disgusting how politicians have let this happened who suppose to help its mass of people

[@Tyrell_Corp2019]

And don't forget suppressed wages. It was the unions that created the middle class in the U.S. Since the 90's, wages have remained stagnant. My dad retired on $55,000 annual salary. We are STILL in that zone.

[@jwonz2054]

Many of these things resulted from government intervention with an attempt of doing good. Student debt: make college available to everyone, so the federal govt agreed to co-sign loans. Medical debts: doctor degrees and accreditations to ensure competence. Housing debts: Mortgages to grant houses to more people, but this inflates price like student loans It isn't always sinister reasons, sometimes the system is just really bad at doing a good job.

[@Mjones4949]

@@jwonz2054 that may be true, but corporate greed on behalf of their stockholder's is a much larger issue. This is not sustainable!

[@kelvinjohnson4]

High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[@KelvinWallace]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@LionTowercoporation]

I recommend considering a diversification strategy for your financial portfolio due to the increased complexity since the 2008 crash and COVID. My colleague hired an advisor and successfully grew her portfolio by over $120K during this turbulent market by using defensive strategies to protect and profit from market fluctuations.

[@williamsbrown4026]

@@LionTowercoporation Can I ask you to recommend this particular coach you using their service?

[@LionTowercoporation]

My advisor is Colleen Janie Towe , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@williamsbrown4026]

@@LionTowercoporation Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call.

[@esbevco]

That’s appalling and even disgusting. A Canadian corporation telling Americans to “rent” the American dream - when the dream is the EQUITY and generational wealth homeownership provides.

[@abbysaucedo7871]

This comment describes exactly what I feel :/

[@johndavis8746]

I'm lucky my parents aren't pushing me to move out but as someone who wants to move out I simply refuse to pay rent to anyone because to me renting itself is the problem at this point. Something needs to happen to push people away from renting so that these companies go away.

[@izdatsumcp]

What's appalling is you don't see that government is the problem, take a surface level perspective and blame corporations.

[@MP-ng1sc]

You will own nothing and be happy! Klaus Schwab-World Economíc Forum

[@spectre.garden]

@@izdatsumcp You are right. Government oversite and regulation is needed. Predatory business practices have been on the rise for many decades. Social contract is between the people and the government. The people have no fair representation or contract with corporations. The idea that we vote with $ is no longer valid when consolidation more often than not makes small businesses dead on arrival. Corporations are the real problem, but the only recourse is government. Otherwise, we are all just earnings cattle, allowed to have only what the market justifies.

[@kmb1023x]

This is the reason why people my age are extremely worried we will never be able to afford a home. Absolutely terrible.

[@KBlocker29]

@@jasonwalker2150 I’m 40 and terrified of that. I’ve never purposefully not worked and I fear I’ll have to work til I die. I did what I was supposed to but yet here I am looking at being robbed yet again.

[@ninettehalpin2779]

Kate, its Not just pple your age. It's down sizers & retirees too. And it is awful

[@garyseeseverything8615]

Fed Powell that criminal inflated prices send him to prison!

[@alllifematters]

That's all you care about?

[@alllifematters]

I mean it's no wonder that corporations have taken over our entire world because me st people only care about getting their piece of the pie... They don't care about the world out beyond their lawn and this is why the world sucks so bad and why it's only gonna get worse.

[@carolmorris9449]

Allowing corporate investors to buy single family starter homes should be considered criminal.

[@ninettehalpin2779]

Carol, allowing foreign corporations that are not even American owned is even worse! There should be a maximum limit set at how many homes or properties investors can buy.

[@adminadmin9997]

Ain't that the truth

[@hollywoodnoire]

Absolutely especially when they neglected the homeless for so many years

[@KN-jr6tx]

@@ninettehalpin2779 I agree there needs to be some kind of limitation on investor purchases of SF homes, but the location of the investment company matters little. A large domestic SF investment company creates the same barriers to home ownership as foreign-owned corporations. Also, corporate ownership isn't black and white: during 2029, Blackstone (US) invested a $240MM stake in Toronto's Tricon Residential.

[@armchaireconomist8648]

@No name that's not going to happen.

[@personone8415]

There needs to be a law to prevent corporations buying up starting homes.

[@marcvslicinivscrassvs7536]

People want capitalism. This is capitalism in its rawest form.

[@wednesdayschild3627]

The term starter home needs to go away. Interest rates were kept artificially low and now we are paying for that. People have to understand everyone cannot live in one place. I am afraid the USA will have to do like Europe and have quotas on moving. There will have to be a tax on moving to a state with a cheaper home. The movers are forcing high taxes on the original people, so they should pay a bigger tax.

[@randyroad7469]

Or non U.S citizens. What really pisses me off about the whole thing is tricon is not even an American company.

[@marcvslicinivscrassvs7536]

@@randyroad7469 💯

[@User-gfys-0icu81]

@@randyroad7469 you wanted to live in a capitalist nation, where we are constantly competing against eachother. Then you complain when you cant succeed. Oh shut up..

[@lesliewacker9429]

As a Realtor in the Atlanta area, it's so sad to see this happen. However, there are a lot of sellers who are adamant about not selling to these investors.

[@davisholman8149]

Leslie, my daughter & SIL actually sold to another young couple even though the investors made offers in cash with better terms. They wanted to bless a couple expecting their first baby instead of Zillow or some rich guys.

[@rightnowiseverything2521]

When it comes time to sell, I will only sell to a person not a corporation

[@mattb4461]

Thats the only way to stop this

[@gopplergoppler8827]

to build a house on a piece of property YOU OWN but isnt zoned right may cost you the price of or nearly double just to build a house and abiddee by countyy/citty new communnismm age laws. Try building a buisiness or company building on something in housing area to rezone your looking at knowing people in the government and paying 3-4x thew price of the building for even a maybe......

[@gopplergoppler8827]

cheinhhhahh and newagedemocrahhts have set it up to where the word "owninggg" means nothing

[@davidknightx]

That lady at the end nailed it. The wealth that would've gone to this couple for owning the home is now going to billion dollar companies. The American dream of home ownership will soon only belong to wealthy families. That's the entire point of all this. America is a civil oligarchy.

[@user-dw1zb3fh5n]

“Slavery is epic” - The US constitution

[@MM-xc2bt]

That's why only the rich should join the military. The country is only for the rich let the rich fight for it.

[@repentandbelieveinjesuschr466]

Repent to Jesus Christ “Submit yourselves, then, to God. Resist the devil, and he will flee from you.” ‭‭James‬ ‭4:7‬ ‭NIV

[@theterrestrial3267]

I believe next will be free public education so they can get workers at a bargain rate. This government is allowing corporations to basically F it's citizens royally ,Hope it backfires on them if you have no dreams to strive for why give it your all

[@bwj1158]

@@theterrestrial3267 Where are all these thousands of people that entering our country everyday living. They have to live somewhere. They're not living on the streets.

[@Thomas-vq1ox]

Everybody share videos like this and let's start to talk about how we as a generation are losing the opportunity that our parents had in owning a home. There is NO reason that corporate America should be buying up homes to rent to us. This makes me furious!

[@sobeliever1638]

Pisses me off as well. People try to make money off every basic right real estate should have government controls to prevent this or it will just keep getting worse while they keep getting richer.

[@robertw1719]

"we as a generation are losing the opportunity to own a home" It's called liberal policies and a Federal Reserve that is out of control.

[@melelconquistador]

@@robertw1719 It is Neoliberal, there is a distinction. Neoliberalism is economically cut throat, competative, and emphasizes the individual rather than cooperation. Liberalism is more egalitarian in nature and fosters concern for your fellow man. Unfortunately it tends to get recuperated by the status quo as it is a step away from centrism.

[@robertw1719]

@@melelconquistador :: Interesting definitions - - Out of curiosity, where do you fall regarding these two - assuming you do?

[@lerp5555]

And zero talk about regulating these purchases from our government. Gee, I wonder whose interests they serve?

[@bradberry9312]

The 900 sq ft apartment I lived in for 9 years in Atlanta...2012 when I first moved in rent was $800 a month. When I moved out in 2021 before the next increase it was $1200. After renovations it rented for $1850 in 2022. Thats over 100% increase. $1850 is considered cheap now in Atlanta. 10 years ago you could easily find 1 bedroom apartments all over the city for $700-$900 a month.

[@whatever4731]

How much is now

[@brianswanson2080]

Sam thing happened in the Portland Metro area. My apartment that I had in 2010 rent was $700.00 a month, when I moved out in 2020 rent was going to be like $1500.00 I am sure they renovated that apartment and are renting it out at like $1700.00

[@DaCutieNation]

this is so true. You can't find anything for less than 2k now in atlanta

[@justinedse3314]

Why did you keep reupping the lease?

[@mikeymyers-my7dv]

Another of people are going to be homeless and that is going to create more crime

[@nickns732]

We’re going to see a lot of generational wealth scooped up by these companies. We need legislation to protect our futures from this predatory behavior.

[@sterlingw3611]

id like to buy a house but i guess ill just have to settle for a bloody revolution......

[@tcb1012]

Can you believe what that snake of an investor is trying to Pan out!!! He's trying to use the jedi mind trick on all of us - wow

[@tcb1012]

@@sterlingw3611 Well let's hope you young folks start that revolution sooner than later and make things fair again... Only time will tell.👈😎

[@tcb1012]

@@sterlingw3611 By the way when you start this revolution make an example of the rich neighborhoods And not the poor ones + make an example of some of those corporate heads as well...👈☠ And don't let off the pedal until change is done...😎

[@ling636]

Just say you are broke 🤷‍♂️

[@JonGarcia]

It’s incredibly difficult to build wealth without owning property, and it’s insulting to hear that CEO say an entire generation is more concerned with a “lifestyle” than ownership

[@blackworldtraveler3711]

I became wealthy owning stocks. It's how I was able to pay cash for my rentals later.

[@blackworldtraveler3711]

@@JBD915 Started early. I began working,saving, and buying stocks by 10th grade. Stocks like Walmart,Exxon,Apple,Starbucks,etc.. were under $4 back then. Also a high paying career. Living within means,avoiding debt,etc..

[@chrism8180]

@@blackworldtraveler3711 sounds like BS generic lies

[@blackworldtraveler3711]

@@chrism8180 That would be your issue. I have moved on. Already retired in my 40s.

[@chrism8180]

@@blackworldtraveler3711 cool story

[@mrswjr4061]

When I sold my last home I had multiple offers on the first day. I didn’t take the highest offer, I took the offer that had a personal letter included, written by a young couple with small kids. They told me how much they loved the backyard tree swing, and that their daughter loved the the way my daughter had painted her room and she wanted to sleep in there. There was no way I was going to bought by an investor even when they tried to go higher, I wanted someone to love my house like I did. Money isn’t everything, leaving the house I had so many memories with was difficult, but knowing someone else would love it made it easier to move on.

[@tjones5399]

are u in Texas. My son and his wife are looking to adopt a few kids and need a nice size home but there dreams are being crushed. I wish everyone was like you. They have put so many offers in and never win. Im so sad.

[@mrswjr4061]

@@tjones5399 I'm not in Texas, but that letter worked with me and I recommend a personal letter with your bid because with so many offers it made it stand out from others. There was one other bid that had a letter so I guess it is not unusual. It came down to who sounded like they would love the house the way I did.

[@tjones5399]

@@mrswjr4061 Thanku for the advice. Im praying for a miracle

[@Duwayneismyname]

They don’t allow buyer letters in my region. It’s become so mechanical - the human element is gone out of the market. It’s all numbers now 😔

[@tanyatanya891]

@@Duwayneismyname what region are you in? That’s crazy! I think the sellers are partly at fault for not thinking this thru and just selling to the highest “best” offer.

[@doingtime20]

Ban corporations from renting homes, there is no sense for that to exist.

[@jameslocklear5298]

Ya renters will be homeless then

[@freespirit2449]

This is disgusting. The fact that it is even legal for these huge corporations to come in and take what small amount of starter homes are available is appalling. Our government should be regulating and setting laws into place to prevent this predatory behavior.

[@amyaaron7141]

The fact that wheeler dealer lobbyists are allowed to control legislation that allied them to buy up homes says a lot about our government.

[@stevechance150]

Some people would say, "That's unconstrained Capitalism doing its capitalism thing". I don't think it's good for the quality of life of Americans, but capitalism values short term Profits above all else, and we worship Capitalism.

[@brendenwright9576]

The great reset. You’ll own nothing and be happy. Thank you klaus schwab.

[@TheyRiseBand]

One day people will figure out that government is simply a collection of self-serving entities, that have no intention of serving "the people."

[@sosueme811]

What our government officials get $$ for theses corporations not from their salaries

[@kaistockman6443]

My dad says it’s immoral for one company to own that many properties. I agree.

[@XJ9sodypop]

the U.S. has had anti-trust (anti monopoly) laws for about 100 years now. its not a boomer-liberal-trump problem. we have a congress problem. we have laws already. liars and thieves like pelosi and mcconnel should be arrested and hanged for selling out

[@NankitaBR]

There should be a cap on the amount of housing properties a person or company could own. I understand having up to 4 properties (maybe as vacation homes and/or something to leave to the children of the person), even though I think that 4 houses is already too much (I personally would have 2 if I had the money, one for living and one for vacation) but any more than 4 is completely unreasonable. There is no reason to have more than that other than to profit out of other people's poverty.

[@WhatIsThis-zq4hk]

Greedy corporate landlords are a symptom not a cause. The only reason these homes are so lucrative for them is because they are scarce. To solve this problem, we need to address the fundamental supply and demand imbalance. We need a fundamental shift in the way we zone land and regulate real estate. We need less parking minimums, less single-family zoning, less minimum apartment sizes, and less of any other regulations that limit housing supply. That is the only way for rent prices to go down. Just like how price scalpers bought up play stations and sold them for an insane profit, that only worked because the playstations were scarce and people were willing to pay whatever they charged. Nobody does that with iPhones because iPhones are plentiful and can easily meet demand

[@dcg590]

@@NankitaBR why should there be a limit for how much money someone else can make? That’s ridiculous

[@NankitaBR]

@@dcg590 I agree, as long as there aren't people dying because they don't have enough money to live. Which is what is happening today.

[@NoCreativeNameGirl]

“In the future, you will own nothing. And you’ll like it”- The same dystopian viewpoint as this disgusting man. That last line will forever haunt us.

[@thekilla2885]

I sure hope everyone fights this great evil.

[@kingdomfor1]

In the future you will own nothing and the rich will be extremely happy.

[@dc7424]

@@finnabinnaconna9836 those people have guns too mr. It could never happen..it would be a lot of bloodshed all around

[@rickcaldwell2862]

@@kevinday193 Absolutely the dumbest thing I have seen posted. This would be totalitarian Marxism.

[@traceford4904]

Remember when we used to own music CD's and DVD's? Not anymore because it's all streamed now. We traded ownership for convenience.

[@CharliRay]

The way they blatantly justify the disgusting things they do is deplorable

[@sheilajohnson6478]

This infuriates me that investors are out there trying to buy up as many houses as they can. There really should be a law put in place to stop these vultures. They’re taking away from young families having a chance to purchase their first home. I get multiple calls a week from investors wanting to purchase my home. I’m so angry over this. I wouldn’t sell to an investor if they were the last people on earth. GREED!!!

[@EmilGhiurau]

I was saying the same thing. How is this allowed?

[@lindakincaid4530]

big business getting richer so sad.

[@dontbanmebrodontbanme5403]

You guys scream all the time that you don't want socialism. That is, until you're no longer winning the game of Capitalism. The moment you start losing, then you want socialism, even though you guys ABHOR that word. But make no mistake about it, if you want there to be a law that stops people with the most money buying up everything, that's socialism.

[@dontbanmebrodontbanme5403]

@@lindakincaid4530 No, that's Capitalism. Are you a socialist?

[@dontbanmebrodontbanme5403]

@@finnabinnaconna9836 What I always find funny is how easy the average person can be manipulated into believing garbage. Bernie Sanders FOR DECADES screamed about the very things that are happening now. What did republican politicians do? They called him a "socialist" and trained all of their voters to hate socialism. Yet everyone here that's disgusted by what these companies are doing and want "something to happen" don't realize that they're asking for a socialist solution!

[@Duwayneismyname]

This is so greedy and so disgusting. Amazing that a man can sit there and paint a whole generation with one broad brush - saying they all want to rent. When he isn’t even part of that generation. A full blown crook. Interviewer should’ve pressed him more.

[@juliangjackson285]

Honestly, I am surprised he was interviewed. I am sure if she threw harder questions, he wouldn't have chosen to be interviewed.

[@NoCreativeNameGirl]

True, he was disgusting

[@garrettg5130]

I'm a millennial and can confirm. I want to be poor and pay his company so they can make money and grow the equity that our parents made by owning houses. Don't let the American dream fool mislead you. Giving money to the man is our purpose.

[@Stephaniergtz]

This is the modern dystopia life we’re living in. Our own country is failing us when the so-called American dream is out of our reach. Pursuit of happiness my -s.

[@Duwayneismyname]

@@garrettg5130 😂 exactly. The logic is that ALL millennials would prefer to have corporations own their property and continue to pay rent which rises every year - how would someone even retire

[@authenticallyapril]

This is heartbreaking. I'm a teacher and I have to come to terms of NEVER possibly owning a home because I definitely cannot save up when my rent is 60% of my income AND I have to fund supplies for my classroom

[@robm2681]

Teachers are worthless leeches in America. Never stop complaining about working and unionizing to get out of working and then turning around and calling yourselves public servants, acting high and mighty..

[@republicforever946]

I would love to know why our elected officials are not doing anything to stop this. This is a crisis that is 100% manufactured by these large corporations and is completely avoidable.

[@elipuebla2537]

These people the GREEDY CORPORATIONS Are one of the root causes of HOMELESSNESS IN AMERICA.

[@babymoon5282]

@@republicforever946 because corporations are your government. The elected officials do corporations biddings

[@republicforever946]

@@babymoon5282 I agree with you. We are no longer a free market capitalist society we are now a corporatist nation where government gets kickbacks from powerful companies so they write laws that benefits them. It's disgusting.

[@Oscar_239]

You know what's not rising at all?? People's wages.

[@Watchinclouds]

🎯

[@adrianrivas1730]

This man just said 'rent the American dream' with a straight face 🙄

[@erinpeacexo1854]

This guy is disgusting!!

[@_unopablo]

Wicked

[@dmayfield125]

Dude should be in jail.

[@chrisfifield8583]

You will own nothing and you will be happy

[@jimeagle1155]

A Canadian just told you to rent the American dream from him.

[@denisecervantes9879]

Renting the American dream. That guy has no soul.

[@EastNewYorkKid]

This behavior by Corporate America and Politicians has spawned he reptilian theory. I really wanna know how this guys sleeps at night knowing that his company is killing the American Dream...

[@MS-tc2fs]

That’s an antiSemitic statement, there’s no reason to say that especially since his company hardly owns many homes relative to the overall market. His company has its own designated repair fleet and state-of-the-art appliances/ ideal home setting. This is much better than other alternatives, and renting allows people to invest their money on the side.

[@Make_Me_A_Sandwhich]

Smart business man

[@peacebeyondpassion2]

He wears his soul on his face.

[@lebimas]

@@MS-tc2fs Why always play the victim and pull the anti-Semitic card? Just accept that this corporate owner has too little sympathy for the public. Student and medical debt should be eliminated, and people should be allowed to buy a home. Want to be moral and make money? Build new houses. No one will knock you for renting out houses if you built them and are adding to the housing stock

[@SweetAven00]

Him saying that us millennials don’t want to own bc we grew up in a “share” economy makes me sick. This is what politicians tell themselves so they don’t have to get involved. Rent the American dream as an America 🤢 I want to slap the crap out of that man.

[@MLEPOS1]

These SOBs justifying their criminal acts of controlling the market to their advantage! Unfortunate government is on their side! Tax money on each home rented is huge……the city gets these taxes! Companies providing loans don’t care who gets the loan! These properties increase in value and the average buyer then can’t afford to buy one! If the market crashes the government will bail them out, with tax payer dollars! They are All in it together!

[@RobinHood_62]

Exactly....you should have been buying a starter home when the 2008 recession and housing crisis happened. So yeah...you "shared" the crumbs for a number of years....only to find THIS horror.

[@skyaerialfilms9758]

Will smith syle

[@hypothalapotamus5293]

Rebranding neoliberal economics policy as a "share" economy because the working class doesn't own much anymore is a pretty sick joke, isn't it?

[@elvismark5172]

After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@thomaslewis514]

Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.

[@oscarjiron6974]

I concur; I've been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.

[@AnthonyHart34]

@@oscarjiron6974 I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?

[@oscarjiron6974]

@@AnthonyHart34 I was able to comprehend profit generation better with the aid of my coach, "Ruth Loralann Brennan". By searching for her online and going to her page, you can contact her. I have complete confidence in her as a financial counselor who is licensed by the US SEC.

[@waynestones]

@@oscarjiron6974 I can see why She is so busy; her career and outstanding qualifications are Fascinating! So I immediately copied Sharon's complete name and pasted it into my browser.

[@sellnowcolorado2590]

"We are making the American dream affordable" -Tricon CEO. What a load of crap. The landlord is making a profit on the ownership of the asset. They charge MORE than what it actually costs to own the house. That does not equate to being more affordable.

[@botaccount3449]

Well said

[@gloriaevans6359]

Opendoor Technologies Inc, the largest of the so-called iBuyers, is listing homes for 17% more than it paid, according to data compiled by Mike DelPrete, a scholar-in-residence at the University of Colorado Boulder. In one recent example, the company bought a three-bedroom, three-bathroom house south of downtown Phoenix for $458,700 on March 1, and listed it for $561,000 eight days later -- a 22% increase.

[@HH-le1vi]

That's kinda how business works. You charge more than cost. That being said it's the volume they're doing it at that makes it worrisome

[@KJ-xc6qs]

He said, with a smirk on his face. 🤑

[@GoTeamScotch]

You know what's more affordable than a $2k/mo rent bill? A $1,500/mo mortage. This CEO guy is out of touch.

[@theblondeone8426]

As a recent young homeowner, I WILL NOT sell my house to a corporation or investor….I refuse. I will make that clear to my realtor. I think it goes against American values. We bought a fixer upper in texas right before this crazy market and it doubled in value. Everyone should do the same.

[@theterrestrial3267]

everyone should have the OPPORTUNITY but these corporate vultures are preventing that

[@MrThatsYe]

Also recent homeowner here- agreed! I will NOT sell to corporations or even an investor for that matter.

[@eckankar7756]

I own my home and 5 rental properties, all will go to my kids, grandkids and great grandkids yet to be born to make their lives better. THAT is generational wealth. Why are young people not provided the same from their parents and grandparents?

[@ajdarko8531]

I've seen ppl sell their home to a family and the family ended up selling to a corporation to make a profit and buy a bigger home.

[@triggeredlonda4317]

@@eckankar7756 use cash flow and buy even more I bought 89 like this from 150k year salary before pandemic home were 250k In Florida I bought on 25%down charged more than mortgage 700dollar cash flow seeing the cash flow banks gived me more and more loans now I am multi millionaire sold 10homes at 5millon paid all the loans to bank now I will go big buy with more credit and in few years raise more money with my track record and be like them capitalism win if you have skills

[@aphrodite421]

Canada just recently put a ban on out of country companies buying real estate for the next 2 years in an effort to bring down rent prices. We should do the same here. This guy needs a swift kick to the 🥜's.

[@SkyDaLimit925]

Yeah good luck with that… especially with the record breaking number of votes President Biden

[@leetcodeking4859]

Please share to family and friends. We need to get the word out.

[@Lotuslaful]

Yes!

[@instinctively_awesome8283]

this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust

[@BenjaminMcLeod815]

Me too. I thought about investing in the financial market, I heard that people make millions if you know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.

[@Robertgriffinne]

I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.

[@PhilipMurray251]

@@Robertgriffinne We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Jennifer Aaron Marcontell", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

[@instinctively_awesome8283]

@@PhilipMurray251 Wow! That is astounding. Where can I find this Advisor? I have to profit from the market's decline.

[@tradekings5433]

@@PhilipMurray251 i looked Jennifer up out of curiosity and she seem really proficient, thanks for sharing

[@GovmntLacky]

One thing that would turn this around REAL quick. Pass legislation that allows renters to claim their rental payments on taxes when the property is held by an investment firm INSTEAD of the firm. You would see this situation turn around REAL QUICK!

[@Chaz_r]

Did you say politicians should do something to help the ppl?

[@tc2241]

lol, was thinking the same thing. However that would NEVER happen as most politicians are investors and salesmen. Also, even if you did pass such a law it would leave loop holes that would farther erode the competition

[@peacebeyondpassion2]

...But they're never going to do that. Why should they when they're making profit off of it like never before! Like really lol 😆

[@NankitaBR]

@William Pierce Look at their books then and tell me they are wrong in their comment. It's not speculation, it's a fact. Most politicians are landlords and own multiple properties that they rent.

[@aloha270999]

We need to vote out current parties that are also heading towards extremism

[@midwestmike613]

I love the part where a large corporation tells me what I want. That I would rather pay 30-50% more per month to rent as opposed to owning that exact same property.

[@aikanae1]

And skip the tax breaks from owning. Even worse, these companies are borrowing against the homes they are buying to buy more. Just try and do that with a rental.

[@midwestmike613]

@@aikanae1 I had to rent once after owning a home absolutely hated it. I had half the room and still paid more then when I owned. I honestly am not sure if most people realize it's cheaper to own. There are massive apartments and townhouses going up all around me for 1500 a month and there full of people. I don't get it myself I guess if your gone for work maybe it's worth it or only here temporary

[@4seeableTV]

That shyster had a smooth answer for everything.

[@aikanae1]

@@midwestmike613 they aren't choosing to rent, they can't get financing to own. "Pay $1,500 in rent but you don't make enough to pay $1,000 to buy"

[@dalpz205]

Yes to all this. Canada even.. can't buy because student loans or medical debt. Seriously? Should've just not had that cancer treatment... That's on you. Too bad your country sucks at this but we HAVE to price according to the market and get the most rent because reasons. Also, what happens when the home I own is too valuable to own? Property taxes and insurance will be priced out of range except for the very wealthy. I see that in the future.

[@ROCBOYZGURLZ]

I love how the CEO is sitting their with the blank face trying to justify all this 🤬

[@dontbanmebrodontbanme5403]

He's not trying to justify anything. He's giving a boilerplate, bs answer. He knows it's bs and he doesn't care. You should be thankful that he's being nice, because what he could really say is, "I'VE GOT MORE MONEY THAN YOU POOR PEOPLE. SUCKS TO BE YOU!!!!"

[@ROCBOYZGURLZ]

@@dontbanmebrodontbanme5403I agree but he is giving bs answers that these big companies only play a small percentage in this inflated market

[@dontbanmebrodontbanme5403]

@@ROCBOYZGURLZ OF COURSE HE IS! But you do realize he didn't even have to give the interview, right? He could have just done what almost all of them do: don't give the interview, but if they're feeling nice, send a one paragraph response saying how much they want to serve the community with their wonderful renting packages, blah, blah, blah! Look, at the end of the day, people have to understand this is capitalism. When politicians (almost always republican) tell their voters that guys like Bernie Sanders are socialists and and socialism is the devil...well, this is the alternative.

[@ROCBOYZGURLZ]

@@dontbanmebrodontbanme5403 true

[@topgrain]

@@dontbanmebrodontbanme5403 Why should he care? He's in it to make money for shareholders. As much money as he market will bear. He's as cold as ice, but quite balanced in his telling-it-like-it-is.

[@mustangmatt1987]

Why are foreign companies or countries even allowed to buy property in the USA??? They should stop that but what do I know. 30000 houses for a place based out of Toronto

[@CMare-pt7ei]

It doesn’t even makes any sense

[@cocodiva72]

These big corporations don’t realize that they have created and are a big part of the problem. Most people don’t want to rent a house they want to own a home. This is so sad.

[@ChrisJohnston-z7u]

They certainly know what they have created. They created it because they want money.

[@kbanghart]

Many of us don't mind renting, tho. As long as it has appeal.

[@Falconlibrary]

They know. They don't care. They're run by greedy psychopaths.

[@clairelivefreeordie2551]

not sad it's outrageous!

[@xaayer]

@@Yarrler I can't help but feel the popularity of airbnb contributes as well

[@markcarr5142]

My wife has said that several people who work at her job, have started vetting the people who want to buy the houses that they are selling. If the bid is good, they have started to ask to meet the people who are wanting to move in. They are cutting off investors and property buyers, who want to take the house and rent it out.

[@cosmicllama6910]

that's great but it won't be enough at this point, too much damage already done. The entire workforce is getting burned out fast. Having no real reason to keep working other than just surviving month to month, it's too bad the elites don't care because they should see how very soon this will lead to an uprising, massive civil unrest.

[@boosti_alex1428]

@@cosmicllama6910 completely agree

[@cosmicllama6910]

@@boosti_alex1428 we're already struggling to pay for the aging boomer population now. Millennials and gen Z are really gonna be expected to be able to save anything for old age with all this on top of everything else being so debt driven? OH that's right, we don't get to retire like the boomers did. We're supposed to just work 4 times as hard as they did for a 4th of what they had, accept the fact that we'll be working 2 jobs until we die just to only ever be scraping by, and we're not supposed to be bitter about it!? This economy has already had the last nail in the coffin it's just gonna take time for the death rattles to really play out.

[@MeadowDay]

Good for them, I agree…force out these greedy corporations.

[@Dancing_Alone_wRentals]

Good, they should discriminate against investors.

[@tiandao8503]

I'm the owner of a starter home. I get five calls a day from these companies wanting to buy my house. I've asked them not to call, but they do anyway. They even called during Thanksgiving dinner. They've knocked on the door with offers to buy. There has to be some way to make the harassment stop.

[@tiandao8503]

@@cinnamonroll5957 I'm on the do not call list, but there might be a way to hide my information that I'm just not aware of.

[@WhatIsThis-zq4hk]

Say you'll sell it to them for 10 times its value and not a penny less

[@johnnyboy2364]

From someone who hopes to own a home someday, I hope you never reach a point where you have to say yes to their offer.

[@BlowitAllUp]

There should be a way to make these companies pay 50x the price if they want it that bad.

[@sha2bron2]

@@WhatIsThis-zq4hk haha

[@darthgroot4006]

I am 35 years old, make about 75K per year and I rent from an apartment. Why??? Well, because my current rent in Ohio is $1215 per month, for a 2 bed 2 bath apt. The price of everything has gone up significantly and now going to the grocery store cost another 50 bucks per trip. How is the average American supposed to save money, when everything cost more. There is no way we can afford a down payment, even though we can easily afford the mortgage payment. Most mortgages are less than 1300 a month for a starter home. Hate to say it, but I honestly don't think I can ever afford a home.

[@conormcqregor4393]

You are blessed with 1215 rent wtf why are you complaining 😅

[@Watchinclouds]

You're not alone. There are a lot of us on the same boat.

[@Watchinclouds]

​@@conormcqregor4393that's the whole point! If you don't complain, then there's nothing wrong right?

[@zacktaylor4823]

I’ve lived in the Seattle area all my life, and I’ve watched this happen in my own state. I’ve watched home prices and rents skyrocket over the last seven years, and in the last 2-3 years, all of the affordable homes were bought, and a lot of them are now being rented. My partner and I are in our early 30s and have been saving for nearly 11 years, and we’ve been trying to buy for the last two years, but we were outbid every time, even with a large cash down payment. It’s heartbreaking, and it often keeps me up at night. It seems like it’s nearly impossible to buy a house in the area we grew up, or anywhere in our home state, or even most states. Not only that, we are paying $500 more a month in rent than we did six years ago, and we’re now paying over half of our combined income on rent. I don’t find renting appealing at all, for obvious reasons, and I absolutely do not find renting an expensive apartment more appealing than homeownership. I don’t want to give half my money to any landlord, especially to live in a small, noisy apartment where nothing gets fixed and I have no privacy, and certainly not for the rest of my life. I want a home that’s mine, that I can afford to retire in, where I have security and stability. It’s not just the investment buyers that are to blame, our greedy and corrupt government and elected officials allow this to happen, and it’s not for lack of knowledge about the situation.

[@annanirathsi1111]

Your last sentence says it all. It is heart breaking what our leaders have led us into.

[@carolmorris9449]

At what point is this going to qualify as a monopoly?

[@skids230]

Exactly the same happening here in Australia, first home buyers who 10 years ago could get into the market, now all auctions are a flooded with rich Chinese or Indians, usually buying to rent out at the craziest prices I've ever seen, houses that 10+ years ago were around 200-300 thousand AUD, now getting pushed over the 1 million market which just pushes the average people trying to get a house into the rental market that is controlled by theses rich internationals. Some of them own 20+ houses, as far as I'm concerned you should only be able to have 2 houses in your portfolio, but as usual our government just let's it happen as the more the house sells for, the more they get. It's disgusting!

[@ReturnOfTheJ.D.]

@@skids230 The job market in Australia is subject to the exact same skewing by international players. I was all but ignored for 18 months from August 2019 (only got two full weeks work in the whole time) and when they reopened the economy in January 2021 I had four job offers within the first two months (was lucky to pick the best). Companies couldn't source foreign workers so they finally looked to the local applicants due to a much better supply-demand equation for workers relative to jobs. There is no interest in building up skills and experience in the local population instead of foreigners with nothing to tie them down to this country long term. The nation is wasting its jobs on people who leave it (much more often than locals) - with all that investment going with them.

[@ellegodoi6833]

@@carolmorris9449 I’ve been asking this for quite some time myself.

[@nickysunshine8734]

I’m so disgusted when he said “You can RENT the American Dream. SMH

[@mikeyorkav4039]

With all the nutjob mass shooters in this country youd think theyd start targeting these parasites...theyd be more popular

[@l0s78]

He also walked in that example home and called it a product, not a home...

[@mikeyorkav4039]

@@l0s78 capitalists arent even human

[@nickysunshine8734]

@@l0s78 Omg…I didn’t even notice that part. That is crazy!

[@tutsecret499]

No more American Dream for the last 20 years, and getting worse and worse, now American nightmare. People are moving, running away from California, from USA, a lot crimes, it's getting here a getho, etc.

[@kimmiet1980]

Corporations need to be limited in the number of pre-existing residential homes they can buy up in any given area. Corporations need to be limited in their influence on U.S. elections and legislation. Corporations are ruining our individual freedom and quality of life.

[@mike60521x]

Fixed it for you - Corporations need to be limited in the number of pre-existing residential homes they can buy up in any given area. Corporations, Unions, NGOs, and lobbyists need to be limited in their influence on U.S. elections and legislation. Politicians are ruining our individual freedom and quality of life.

[@MilagrosRuizBello]

Yes!!! But that will probable never happen bc politicians are bought by these big corporations.. ugh

[@whyputaname]

👍👍

[@speedy0]

Most corporations need to look at their bottomline and answer to their investors. Wishful thinking… not going to happen unless government intervene! And, unlikely will happen given how many political lobbyists…

[@jaymelee23]

@@MilagrosRuizBello - exactly. Nothing will happen. Student loans have been out of control and the way interest is calculated, healthcare premiums are unaffordable and now housing and transportation. People on social media are posting double and triple electric and heating bills. Soon... probably food. Great paying jobs (like the steel industry) were not protected decades ago and left. It's just one more step to the decline of the standard of living in the USA. With the decades of decline... doesn't look like the ship will ever turn back. I'm surprised people just sit back, complain and go along with this. I guess only people being affected will be vocal and others will ignore it until it hits them. Goes in waves. Probably why we ended up here.

[@Dasycottus]

Ah yes. I do dream of paying $2400 for rent instead of an $1800 mortgage.

[@tranger4579]

My mortgage was 565.00 bucks😜. Paid off my house

[@jeffe_77]

“Rent your American Dream” when he said that, I wanted to toss my phone across the phone room

[@theoblongbox4909]

It really sucks to be a young person in America at this time.

[@timby2383]

I would've love to trade all gender bathrooms and first black judge in the supreme court for the traditional old country with a solid middle class.

[@MrMustang13]

@@timby2383 yes

[@NicoliePollieOllie]

@@timby2383 what did Thurgood Marshall ever do to you..? Lol

[@bababooeymonkey6549]

cry more.

[@XJ9sodypop]

SBYP FPC well sadly for you millennials are HAPPY to trade wage growth in exchange for ethnic food (mexicans). its half the reason i dont feel bad for millennials. they cause half their problems

[@PunkMartyr]

I have debated getting a van with an AC unit on the roof. The thing stopping me is last time I slept in my car I was woken up and harassed by police.. for sleeping in my car..

[@zacktaylor4823]

No, I don’t find renting appealing at all, for obvious reasons, and I absolutely do not find renting an expensive apartment more appealing than homeownership. I don’t want to give half my money to any landlord, especially to live in a small, noisy apartment where nothing gets fixed and I have no privacy, and certainly not for the rest of my life. I want a home that’s mine, that I can afford to retire in, where I have security and stability. It’s not just the investment buyers that are to blame, our greedy and corrupt government and elected officials allow this to happen, and it’s not for lack of knowledge about the situation.

[@juratory8876]

I fully agree with you there!

[@shadelings]

Only a POS CEO could say that 'Renting is the new American Dream.'

[@tiadeese]

He's typical. Common. The status pro quo.

[@nanaofaiden9743]

Its called GREED and price gouging...!! Simple. Sick. So so sad.

[@danfromthesouth5352]

When you “rent the American dream” you can’t leave it to your kids when you die, and that is the major downside of renting.

[@mikaylawoolley140]

Also mortgages lock in your monthly rate! Many people in their 50’s still pay

[@alankoslowski9473]

So what? The heirs might not want a crappy old house anyway. Liquidity (cash, stocks, bonds) is more flexible than real estate, so might be more desirable.

[@zkxnkj534]

@@alankoslowski9473 but if you are forced to spend that money on rent how are you going to invest it?!

[@alankoslowski9473]

@@zkxnkj534 Total monthly expenses for housing are typically higher than rents. If someone wants a house that's fine, but their heirs are probably better off if they sell it before they die.

[@stachowi]

You never own you home… just stop paying taxes… you’ll see who owns it.

[@AuntieKim]

This process is turning middle class, first time homebuyers into homeless families. Because between corporations buying up starter homes, and apartments raising rent it leaves people with nowhere to go. These corporations greed knows no bounds.

[@MM-xc2bt]

That's how you know it's not a great country.

[@triggeredlonda4317]

@Bart Garvin I hope corporate takes over all this not their land return it to native Indian people before white and black people invaded the country

[@reginaldmitchell4007]

It will probably lead to a real version of "The Purge"

[@icecold8974]

I personally think blaming this on lack of construction is BS. It’s about greed. If your landlord simply chooses not to raise rent, nothing happens. My landlord hasn’t raised rents in almost 4 years.

[@nolongeranurse3369]

Some landlords have no choice...my taxes have TRIPLED in the last 3 years and my insurance has gone from 1287.00 a year in 2018 to 6876.00 this year....I can't afford to eat those losses

[@icecold8974]

@@nolongeranurse3369 that’s understandable

[@nickynada-btc]

They may be forced to raise rent because their property taxes are raising as well. Some I'm sure are just greedy

[@kylewatson5133]

When all of your costs go up, you no longer choose it's forced on you. But sounds like you live in a fantasy.

[@divinereflections5657]

I agree💯..my landlord has not raised my rent in 4 years...YET my neighbors pay almost double what I pay for the same size unit owned by a different landlord💯

[@jamesyancy907]

My brother has been renting since 2008 2 bedroom apartment in Scottsdale paying $1,250 a month, last year he went to renew his lease the only option they gave him was $2,500 for the same apartment or a 1 bedroom for $1,850. This is how government and corporations keep people in perpetual servertude.

[@capitalismisdivisionofevil8322]

That is why I bought off grid unincorporated land and will have to hand build a tiny home now that is self sufficient. No other options. Off grid as a free man or stuck in the cities homeless and danger everywhere.

[@jamesyancy907]

@@capitalismisdivisionofevil8322 I have designed a house of grid on grid depending on size and cost of land can start at $60,000 for a 1,400 sqft. With 70% less in energy Bill's.

[@ramochai]

That corporate representative did a brilliant job exposing the shadiness of the company that he works for. I'm utterly disgusted.

[@edwardlagrossa1246]

Doesn't help that millions of illegals are being let into the country every year by our illegitimate president!

[@amrice62]

Here here! He said, "rent the American dream" at the very end- tell his kids that one day

[@davisholman8149]

I’m disgusted it isn’t an American company! WTH?? Go back to Toronto - if your real estate there is too expensive - fix it! Stay out of American neighborhoods.🤨

[@simonespanu7768]

@@amrice62, unfortunately he won't have to. He will have plenty of homes to give his kids.

[@johnnelson8116]

He is part of a certain religion that has been doing that for a very, very long time. The same religion as Bernie Madoff, who swindled $50 billion out of his victims.

[@jennharrison5579]

My husband and I bought a house in a small north Texas town. A realtor from Dallas was going to buy it but when she learned we are both veterans and I'm a home health nurse and will be living in the home, she let us have it. Her kindness made it possible for us to finally find a home. We kept getting outbid and lost out on so many homes. We needed to find a home fast cuz the one we were renting went into foreclosure. God bless that lady.

[@leetcodeking4859]

Please share to family and friends. We need to get the word out.

[@emilymeador6892]

This angers me so bad. I rent from one of these investors, one that wasn’t mentioned - Main Street Renewal. No, as a millennial, it is not my dream to pay insane rent prices to live in a home that the company refuses to maintain and take care of. Like the couple in the video, I want to own my own home one day. It’s not only morally wrong but it’s criminal. No laws protecting renters, pricing, maintenance - nothing. We have to fight with them literally weekly to take care of things that have been clearly neglected for years. It took us MONTHS after we moved in to get them to have our pool in swimming condition regardless of the fact that we pay $150 (!) per month for pool maintenance. I could go on and on. This calls for government intervention asap or we will ALL be renting our homes from these evil corporations. Point blank period.

[@MS-tc2fs]

The funny thing is, you never truly own your own home. The government owns it and you pay property taxes, state/ federal taxes as part of your conditions to live on it. The citizen doesn’t actually own anything. To truly “own” land, you’ll have to move to another country.

[@Intranetusa]

We need the right government intervention, because wrong governemnt intervention could make the problem even worse. Federal government intervention in the form of high deficit spending, high debt, artifically suppressing interest rates to near zero, etc have all contributed to propping up the stock market and easy money borrowing policies that is causing the crazy high inflation right now. And terrible local & state housing regulation that prevents the construction of higher density housing is also partially responsible for keeping home prices high.

[@signalfire6]

Time for class action lawsuits.

[@jackmckenna8410]

@@MS-tc2fs You do own your home if it is paid off. You just rent the land that it sits on, but if that land needs any kind of work done to it, they will tell you you own it and is therefore your responsibility. I feel if I pay property tax, they should at least mow my lawn for me.

[@dustinbird2090]

@@Intranetusa Just to let you know, "The Federal Reserve" is a private banking institution with no formal or official ties with the US government. In no uncertain terms, the lending policies of the US banking system is not controlled by the US government. Hope that fact brightens your day. 👍

[@w2385-i2s]

Those greedy corporate keep sending me junk mail offering to buy my house.

[@debmann5168]

Forget the "dream" to own a home. What they are not saying is that owning a home is the most significant way to build wealth for retirement.

[@Thegoodlife4me]

Which is why THEY are buying up homes. They know it’s a wealthier builder and protector!

[@schneidz428]

Why do think they are doing this. They don't want people retiring. That hurts their bottom line. More labor = lower wages.

[@Yandel21ableify]

What happened to the American Dream

[@shanenolan85]

🏗🏗🧱🧱💯💯

[@morganoox3838]

They don't want you to retire

[@hometoursofamerica2440]

I’m a real estate agent in Southern California and when my husband and I put in an offer for a home, we were lucky the sellers didn’t accept an investors offer. It’s really sad to hear stories like this about first time home buyers. I hope all home buyers can get the dream house or a house they need. 🍀

[@patricialongo5746]

How do people justify being employed by this system that left me homeless?

[@ignskeletons]

I'm 25 years old, earn about $20/hr, and have a long term partner who makes about the same and home ownership feels impossible for us ever in our lifetimes. We began saving a modest amount and then homes skyrocketed 40%. It feels like we joined a game of Monopoly years too late.

[@shawncrabtree7000]

Go to Midwest or Alabama. I bet you can still own decent home there.

[@samanthab1923]

There are other states but your best bet at this time is to inherit a home.

[@26longlongtime]

@@samanthab1923 haha sad but true

[@HotBoxnChevys]

Just know, every time youre about to reach the goal, it gets raised, its a carrot on a stick game.

[@ISnip3rJoeI]

Wait for interest rates to go back up. When rates go up money is harder to borrow and sellers won't be able to charge such high prices since it costs more for buyers to borrow. That drives demand down and prices down accordingly. It probably won't happen this year but the Federal Reserve is starting to raise rates and you will notices prices going down eventually. Keep saving and be ready.

[@Fredrovicius]

42 years old - spent my entire life trying to qualify for this dream of home ownership - being stuck in a rent trap for 20 years - I've more than paid off a house over the years but I'm in my 40's now with no equity and still unable to escape.

[@eckankar7756]

Sounds like you had an income problem not an ownership problem. Fix YOU first, become more so you can earn more. especially 15 years ago when houses were never cheaper. I bought four nearly completed new 1600 sq ft 3/2 condos in Phoenix for $10K each in 2009. I had to finish some dry wall, flooring and put in appliances as the builder went under due to the crash and the condos were on sale for a song. Those 4 condos now worth over $1M now and I've rented them out all these years. There was SO MUCH opportunity then when you were renting. do what you can to increase your income first. Hope you can still make it happen. It's what we do in our 20s, 30s and 40s that will determine how we live in our 50s, 60s and 70s.

[@Fredrovicius]

@@eckankar7756 Great that you bought a couple of houses for 10k - that is not reality here where I live and where my kids go to school. Houses here start at 300k. Over the 20 years that I have been renting I did not witness this opportunity you speak of, maybe it's different in other places, I live in Michigan near Detroit.

[@eckankar7756]

@@Fredrovicius I'm in Phoenix. I was on Craigslist looking for a used chest freezer and somehow saw the listing for the condos on sale. I wasn't looking for property but it did sound like a good deal and the pictures were nice so I went to see them and ended up buying 4 condos for $10K each. I had to finish the construction which wasn't that much and rented them out. Two of my tenants are still with me since 2009. I never did get a freezer!!

[@Scarlet-st5qs]

@@eckankar7756 congratulations you had a stroke of luck, not everyone gets lucky and if it were that easy everyone would be doing that…

[@eckankar7756]

@@Scarlet-st5qs Your lack of insight blinds you to what I was saying. There are ALWAYS opportunities, it takes effort to look for them and so many won't even bother. Real estate finds are few and far between right now but I just saw a home sell to a flipper a few bocks from me, he remodeled and sold for $109K more. If not buying now, it's a good time to work overtime, get a second job to build a nest egg for a hefty deposit when a deal DOES. happen. On my deal for $40K for 4 condos had I NOT worked overtime for years and saved up $40k in my savings I'd not been able to make the purchases. It was luck I stumbled on the listings but it was hard work for years to have had enough money saved up ready to pounce when opportunity strikes.

[@gregchambers6100]

Wages are stagnant since the 1970s while the cost of living has exploded. This is not sustainable. No longer can a head of household buy a home, two cars, college for the kids... The wealth is going to the conglomerate, not the family.

[@workenhard]

"Most millenials don't aspire to purchase a home or own a car, they aspire to a lifestyle. In a sharing economy they would choose convenience over ownership" Excuse me what? .... the only thing I've ever dreamed of was owning my own house. This guy gives me major slimeball vibes.

[@pointless104]

Seems really gas lighty to me, "this is what you want"

[@workenhard]

@@pointless104 for sure. Nothing worse than feeling like someone's telling you that you like something thats clearly not in your best interests

[@dcg590]

I agree with him. Most kids want to ‘look like’ they live a certain way instead of putting down roots and being a responsible adult. They want to put it on twitter and ig. It’s disturbing

[@jelatinosa]

@@dcg590 millennials aren't "kids". They are in their 30s with kids and families of their own!

[@dcg590]

@@jelatinosa well, why are they starting families if they can’t even have a place to live? But I stand by my statement, so many of these 30yo are still too concerned with an expensive car and the latest phone, lap top, tablet, watch and sneakers, clothes to look like they have money. Should’ve been saving money instead so you’d have somewhere to live.

[@codacreator6162]

As a renter, you’re forever at the mercy of the landlord - one day, you’ll no longer be able to afford to live in the home you may have spent years in. Where do families go when they’re priced out of a home? How do you support a family that includes children and possibly elder dependents in a $2,000 a month 2-bed apartment????

[@coastallivingmississippi188]

Move to Kansas

[@maaxrenn]

@@coastallivingmississippi188 theres not enough work or activity

[@Dancing_Alone_wRentals]

@@coastallivingmississippi188 That is a solution for some. There are homes that still rent for $500 per month. People simply can't live by the water in a cool town. There are plenty of people living healthy lives in the country. (This won't work for everyone, I know)

[@M123Xoxo]

@@Dancing_Alone_wRentals There isn't a home in the entire country that rents for $500/month. It isn't the 1970s. Let me guess, you're a retired Boomer? So out of touch with the reality of housing costs today.

[@Dancing_Alone_wRentals]

@@M123Xoxo Nope, good guesses but you missed both times. Two bedroom one bath , $500 per month..utilities are not included. No central air but the kitchen was done with IKEA cabinets (I love IKEA stuff). If that is too much, a couple towns over I'll have the same ..two bedroom, single bath. It will have a new bath, new kitchen, new windows, and all new insulation and walls. Full remodel expect for the hardwood. One hour outside the 4th largest city in the state. When it is ready, a young family is going to move in and their home will be available for $450. Of course utilities are not include, but I'll gladly help with the lawn care N/C 4/2022

[@myyt3824]

I refused to sell my first starter home to anyone other than a single person or couple with a mortgage written as a primary residence. I ended up selling to a young couple. It was their first home too.

[@williamjameslehy1341]

As bad as we Millennials have had it, my heart really goes out to Zoomers, who in many ways have it much, much worse. I was able to graduate from a state college in the 00s with no debt, thanks to my (merely) middle class parents, and in my mid-20s I bought a nice four bedroom, two storey house for under $200,000. It's since doubled in value, and a two bedroom apartment in my city now rents for significantly more than my monthly mortgage payment. If something doesn't change drastically, then people born after 1990 are going to be reduced to de facto, lifelong serfdom, outside of a tiny elite with rich parents. I don't care what your political outlook is, you straight-up would not be okay with this if you were part of the majority of that generation who's going to be suffering with no genuine relief in sight. Odd that the people who are ready to riot over $3.85 gasoline expect millions of Americans to just smile and accept $2200 a month studio apartments, $8000 ambulance rides, and $60,000 a year college tuition.

[@lisaeischens2352]

They are more worried about voting on issues that really affect their quality of life like abortion, guns, God, discrimination of minority groups (LGBTQ), and a college course called Critical Race Theory (CRT). They believe these issues are more important than healthcare, Family and Maternity leave, wage increases, low taxes for corporations and the Uber wealthy, affordable college tuition, and so many other things. I guess when their neighbor lady gets pregnant they can feel good to know that she carried that pregnancy to term even though she was raped by her uncle and despite her not having enough money to care for the child, additionally they can relish in the birth of babies born with severe disabilities who have no quality of life and live in pain. Yes indeed, I want the rich to stay rich and pregnant women to stay pregnant as this will greatly improve my life and the country overall.

[@mrAZcardinal]

Funny thing is, your Millennial story is pure luck. Most Millennials cannot say they have been as lucky as you- especially those graduating college in the 2010s.

[@williamjameslehy1341]

@@mrAZcardinal I know, I basically said as much.

[@williamjameslehy1341]

@@lisaeischens2352 I think you're mistaking the loudest voices on Twitter for mainstream concensus.

[@psilobom]

Particular people in power will just need to be killed for anyone to make any changes. And as people are forced on the streets, unhinged people will have nothing to loose

[@atomic_ryu]

Holy crap, that 3518 home looks exactly like the home I just bought in San Antonio. 29 yr old first time homebuyer and I lucked out by finding a seller who wanted to work with me instead of selling to a company.

[@poppylopez5233]

Congrats. I am a first time home buyer in SA as well, and luckily I purchased mine in 2019, before stuff really hit the fan!

[@mr.keptitreal]

Congratulations you deserve it

[@75andbreezy89]

I own a couple rental properties in SA. Great city and still very affordable. Also, a lot of people don't know this but counties in TX will give you a grant for a down payment on your first home. Look it up if you are struggling to get into you first home.

[@loislane1290]

The devil comes in many forms, this is just one of them.

[@rcppop3090]

When we bought our home which was a short sale. The family selling the home refused to sell to investors. My wife and I were in the market for approximately 2.5 years and I couldn’t even say how many homes we put offers on but didn’t get because even back then in 2011 to early 2013 homes we wanted were being snapped up with full cash offers from investors. Many tears of discouragement were shed by my wife during that time and I was just outright angry. We spent 6 years living in my parents garage with the original intention to save money to buy a home but in 2008 everything crashed and we found ourselves lucky to be there but stuck. When we finally got accepted to buy our home in January 2013 we learned the family short sailing the home wanted to sell to a family who was going to stay there and not rent it out and actually requested a letter of introduction from the 15 offers that they had selected. My wife has a copy of that letter.

[@Mytro8533]

Just admit what it is. Corporate GREED!

[@wolflarson71]

No, try again. Greed is a constant. You need variables to explain changes. Blaming things on greed is like blaming gravity on plane crashes.

[@beachkidsclub]

@@wolflarson71 great comment

[@ZER0ZER0SE7EN]

@@wolflarson71 What most commenters here are saying is that individual greed is ok. They want to pay under market value. This means because of housing shortages there will be waiting lists to buy that could take many years to get to the top of.

[@allermenchenaufder]

Market is seized by shameful thieves. Gravity is not comparable to Greed.

[@rodbartruff7823]

45-year-old male. Self Employed and make about $80K a year. Can not buy a house and my apartment rent is going from $2000 a month to $3800 a month. Why? Greed

[@FrenchSaladMac]

What state

[@rodbartruff7823]

@@FrenchSaladMac Florida

[@Girlforaction]

That is criminal. Simply criminal. So sorry.

[@shawnantunes]

That's terrible man

[@TVCHLORD]

thats messed up

[@CC12398]

This just makes us even more separate from each other. Always strangers moving in and out of neighborhoods this is not going to end well

[@reginaldmitchell4007]

EZEKIEL 25:17 😔🖤

[@stephannikitenko2495]

Legislation needs to be put together that makes sure that this doesn’t continue to happen. First time home buyers need protection from these big companies. Gotta save that American dream.

[@whatever5922]

The American dream doesn’t exist

[@VictorNewman201]

@@whatever5922 You have to be asleep to believe it, as Carlin said.

[@MH-be6hr]

Can't legislate controls like this. Right-wingers would scream socialism!!! That's why they all knowingly lied about Trump being "reelected."

[@zeemc2751]

What make it so bad, he is from Canada. He started his American dream from a different country 😱

[@jakeslist569]

@@MH-be6hr there’s a huge difference between private buyers and Wall Street firms who can sell shares to buy a house. Those two “buyers” are playing by an entirely different set of rules. Plus Blackrock can get kickbacks and bailouts, whereas private homeowners cannot, generally speaking.

[@joneselle60]

“Rent the Dream”….who in their right mind would want to rent a Dream. It never becomes yours! 😡 This should definitely be illegal especially if it’s controlling the housing market.

[@DJRenee]

They are counting on people wanting to flaunt as opposed to actually being stable

[@Coll__n]

I literally laughed out loud when he said that you can rent the American Dream. I don't want to rent it, I want to buy it!!! Omfg 🤦

[@samreynolds3789]

People RENT because BUYING is EXPENSIVE& ANOTHER SCAM! BUY A HOUSE & IT CAN BE TAKEN , too !

[@rickcaldwell2862]

Call your representatives in Congress at the federal, state, and local level. Get elected yourself to local zoning boards and local office. One of the ways to stop this BS is through strict application of the nation's antitrust laws. It's time for some good old fashioned Teddy Roosevelt trust busting.

[@dianegreen1937]

@@samreynolds3789 Really, how, and by whom. 🤔 ❓

[@MikeBBB]

As a young thirty something Millennial my wife and I gave up on the American Dream in owning a suburban single family home. We’ve been trying for years and it’s only gotten harder. At this point we’re trying to look to buy land and plop a portable tiny home on it. We can at least afford THAT much I hope.

[@corrosivedevourer]

That's an idea that us millennials will have to look into seriously😮‍💨

[@coastallivingmississippi188]

Move to unpopular states that’s what I did

[@Jessicalovechocolate]

I'm crossing my fingers! That sounds like an exciting journey 🎉

[@nate4fish]

The land part is the hardest portion.

[@Dancing_Alone_wRentals]

Good idea. Stay clear of the banks. I bet you'll have a healthier life.

[@JH-jm2zb]

"They can't afford to own a home, They have student debt!" OH WOW!!!

[@stargazer1313]

Lol who doesn't but I was an adult and paid my loans!

[@Pamkkw]

Both my adult son and daughter are looking for places to rent here in Montana. It’s literally impossible to afford! Landlords are asking astronomical amounts for tiny one bedroom apartments in unsafe parts of town! It’s absolutely ridiculous! They both have dogs so finding an affordable little home with a fence is absolutely impossible. It’s 3-4 times if not more than my mortgage!!!! I rented my first home for $300/month back in the 90’s. It wasn’t much but it had a nice back yard in a safe neighborhood. Landlords are taking advantage of the pandemic, inflation and any other excuse to jack up the prices and gouge these kids who are just trying to move out on their own and start their lives. It’s disgusting. Nothing but greed and money!!

[@nicholasthompson7690]

I'm moving frm NY to Ohio. Cost of living in NY is insane.

[@mike60521x]

Dont forget about the massive illegal immigration into the us over the past 20 years - they have to live somewhere - altho the govt is probably subsidizing their housing

[@TM-yn4iu]

@@mike60521x what a bizarre injection of nonsense. I am really curious of your background, if real. What you fail to comprehend, again if real, is the investment driven housing market and impact on "real" people. I bought my first home at 21 in 77, sold and bought, lived through recessions. I've lost jobs, worked anything I could find, janitor, ditch digger, knocked on doors asking if they needed work done. I am retired now and I am humbled by where I am. But never , at any point did I blame someone for something that I didn't have or what I didn't do. Whoever you are, if real, get off your $^&&ss and Facebook and take care of your business. Apologies for rant but I am fed up with the false information being stoked by fake people, politicians that take huge donations from those whoe rely on immigrant labor and act like they are against it. Even so i wish you the best and peace. This edit, I am truly saddened by the impact on the housing market by this investor market and understand the difficulty, if not impossibility, on purchasing a home in this time. I have no answer, but truly emphasize.

[@whyputaname]

@@TM-yn4iu ... Apparently he didn't listen/watch the video.. The Man who is the Investor is from Canada and had said they are buying up like over 800 houses a month.. That is a lot of houses in a yr.. But it is a Investment Firm that is doing this.. No doubt they are not the only ones..

[@TM-yn4iu]

@@whyputaname That is what really pushed the rant. It was stated that CEO, most people can't afford the home or have bad credit. This the farthest from the truth. As stated early on, "cash offers", "no inspection", this is the problem. I live in Austin, TX and it is ridiculous. Fortunate timing, built after crash - couldn't do it now. Back to video, "they can rent the American dream" , that is one of the coldest statements I can recall. Again, rant - for people who have done everything they can, but are blocked by something without conscience. Hope and peace for you and those impacted by this, actually all.

[@valc2228]

Just like developers are charged an impact tax, I believe corporations should pay a tax when purchasing a single family home to rent. The tax should go to fund a down payment assistance program or building affordable housing. If the corporation that is buying the home is out of state they should pay double the tax.

[@botaccount3449]

Should those tax dollars go towards govt made homes with limited oversight to compete with the private market. To me thats the only viable solution. Wont happen tho too progressive/ socialist of an idea.

[@barrym1684]

They gladly pay it and just up the rent once they dominate the market

[@Rangetechus]

10000% tax would be appropriate

[@jefflane9002]

That is why I am bigger fan of graduated property tax. Being big makes it hard to pass on the tax cost. Smaller operations have less tax by percentage so they can undercut if larger entities raise prices to compensate.

[@KOKOFINANZAS]

🤣😂 double tax and if they complain we hit them with the Triple Mega Tax 🤣😂🔥🔥🔥🍇Check the most complete Cryptocurrency Clothing Store for ENTREPRENEURS 🔥Buy your BITCOIN T-Shirt Now. Follow me 👉 @kokolisohd_good Click The LINK in the Bio or check my KZbin channel 🍒🍒🍒

[@linkisraw]

I'm almost 30 and my salary is $5k a month. I know I have it better than a lot of others, but let me tell you I am struggling to buy a house. I live in Central Florida and all the house prices went up. Before you could find decent houses for $250-$300k, now everything here including starting houses are starting at $400k! Plus all the houses here are HOA, and with house insurance and mortgage, you are looking almost $3000 per month, with 5-10% down payment. This isn't including electricity or internet or any other bill. Also with groceries, car payments, everything else, it makes saving anything impossible. Not to mention every house I gave an offer, I've been outbid. Rent here isn't better, last year average apartment rent was 1200, now good luck finding anything under 2000...

[@botaccount3449]

Good luck and look for foreclosures in farm areas. It will need tlc, but youll own the dirt.

[@user-ki4jc7il1n]

That's a good salary for your age. What type of work do you do? I think the only way to save is to roommate with a bunch of people.

[@gracelikerain5039]

5k a month isn't even that much money these days unfortunately

[@meezerthyme]

My parents bought my childhood home for $16,500 in Napa CA. Last year the home a few doors down was featured in an article in the DM as it was being bought by an investment company that wanted to turn it into an Air B&B … the listing price $1,600,000. A 3 bed 2 bath tract home.

[@user-gz4ve8mw9l]

I remember my grandparents home in the early 2000s. Prior to my grandmother dying in Michigan. They bought it for less than $45,000 post WW2. It sold for $7,550,000 before the 2008 financial crisis happened.

[@BG-qr4sm]

Pay to live. Rent, insurance, auto loans, medical expenses, credit card debt, day care…That’s what the American dream is reduced to. Fed played into the hands of big corporations and kept interest rates too low for too long causing this inflation in property prices, food prices. They messed up big time with the young generation.

[@botaccount3449]

Meh itll be over eventually

[@polecat4599]

You have absolutely no clue what you are talking about

[@maximumpayne575]

"You will own nothing and be happy" America 2030

[@hobbesisreal6818]

@@polecat4599 What are they missing then?

[@polecat4599]

@@hobbesisreal6818 we had very low inflation for a very long time, so there was absolutely nothing wrong with keeping interest rates low, and many people were able to buy homes because of it. Low interest rates allowed the economy to function normally according to Market demands. Everything would have been okay had we not began printing money AKA demand at an unbelievably High rate while at the same time Supply was reduced because of the covid virus. We had a large percentage of people who where actually collecting more money from the government then they were earning from their actual job while at the same time not producing anything and contributing to the supply of goods. This is highly inflationary. Couple this with the demand that is Flowing across the border every day which only exacerbates inflation.

[@franciscoalvarado7553]

I'm an electrical engineer and I'm disgusted by our own economy allowing this. There will be an uprising from our generation being taken advantage of, so keep this up and understand we will find people accountable. Mental health issues are rising and that is a linear correlation to how bad things are getting.

[@frostychocolatemilkshakes2944]

No disrespect intended, but what does being an electrical engineer have to do with this?

[@armchaireconomist8648]

The chickens have come home to roost.

[@Komputar]

@@frostychocolatemilkshakes2944 he means to say he earns a lot

[@mike60521x]

remember that alot of states allowed renters NOT to pay their rent for almost 2 years - seems to me the landlords are finally getting payback

[@Jelly-Garcia]

@@mike60521x The longest period a landlord has to wait to file to evict a tenant for non-payment is 14 days. In most states it’s 3-7 days

[@leannjent51]

Where I live, there are literally ZERO rental homes available except for the corporate owned. Rent starts around $1800 a month for those. That would be right at half of my monthly income. Basically an entire paycheck to nothing but rent. That would have me and my 2 girls living on $1800-$2000 a month. Before you think that’s doable, I have to fill my Jeep up in gas everyday for work. $50 a day. Around $1100 a month. Now take out power bill, water bill, phone and groceries. I make around $4000 a month and we would still be living in poverty 🤨

[@CarolynsRVLife]

American Oligarchy is alive and well... and growing...

[@samc5794]

As tent cities sprawl

[@bhavpat514]

There are a lot of foreign investors also

[@xcaret-ns3pb]

You got it!!👍👍👍

[@badger7275]

“You will own nothing and be happy”

[@Gizziiusa]

nah, oligarchs are only in Russia you big dummie. [sarcasm emphasized].

[@flyinhawaiian49]

The damn greed in this country is astounding!

[@slrsouth64]

No it is just on display... for ratings.

[@williamyoung9401]

I think it's time to invade Canada. =P

[@Sheshe661972]

And Babylon will fall.

[@br88dy]

This corporation is based in Canada. It's human nature to want more.

[@4weekshighlights246]

My heart goes out to all the people that's feeling this struggle. My rent went from 1200 to 1600 in Virginia. SMH

[@timby2383]

in SFBA for $1600 mo, you can only get a 350 sq ft studio somewhere in the rundown hood.

[@CrunchingShark]

Move somewhere cheaper then.

[@Kjll3rUnjc0rn5]

Tampa Florida $1200 went up to $1785. 1Bd, 1Br. Most 2+ Bd are easily up in $2k

[@yurichtube1162]

@@CrunchingShark why should he?

[@CrunchingShark]

@@yurichtube1162 Cause he doesn't earn enough to live there. If you can't afford it, you can't have it. Not everyone can afford a Ferrari, so not everyone can have one.

[@SoundOfYourDestiny]

PUT A STOP TO THIS. Call your state representatives and demand that your state outlaw corporate ownership of single-family homes or single units. Corporate home-ownership will destroy lifestyles across the country.

[@shawandabonner9681]

Lmao. Your state representatives, ESPECIALLY the Republicans in many state houses like my state (Florida) are IN FAVOR of free market investors, laws that favor landlords and business owners, and in many cases, those same legislators are landlords themselves.

[@feliperivas3814]

Fantastic. As a millennial, I love hearing these older folks continuously tell me what’s good for me.

[@armchaireconomist8648]

Felipe Rivas maybe you should have been listening to people that went before you.

[@catt99mahal8]

The student loan is out of country. Maybe you should listen to boomers who live debt free rather then your parents generation who barrow for everything.

[@MeadowDay]

I’m an older boomer and I’m just sick about these investors screwing our kids from owning their own home! I would refuse to sell to an investor…I’d feel as dirty as he was for ripping off our kids.

[@rippindrummer666]

That ceo of Tricon is so funny “people of this generation don’t wanna own a house!” “You can rent the American dream!” Gotta love how people like him make themselves feel like they’re justified

[@alankoslowski9473]

There's nothing inherently wrong with renting.

[@zkxnkj534]

@@alankoslowski9473 it is just a waste of your money

[@alankoslowski9473]

@@zkxnkj534 No, renting is just like paying for any other good or service. When you buy food you aren't just wasting your money; you're getting food for it. Renting is the same principle; you're paying for a place to live. It's no different than paying for anything else.

[@zkxnkj534]

@@alankoslowski9473 but if you actually own the place you save more money long-term than if you rent it. money that could go into other investments. plus, a house is an asset since it has equity and you can sell it for more than you bought it. moreover, having to rely on your landlords for the maintenance of the place you live in can often times be a real pain and based on the contract they can just refuse to do certain upgrades. also, you don't have much safety bc at any point your rent could significantly increase or you could get kicked out if the owners decide to sell the place.

[@alankoslowski9473]

@@zkxnkj534 In the very long term, that is at least 10 yrs, owning is usually less expensive, but there are major trade-offs. If you need to move soon after you buy, you lose significant money. When you rent moving is easy. Doing maintenance yourself is more expensive and time-consuming than letting landlords do it. True, some landlords are lousy, but if they are you can move fairly easily. It's fallacious to think houses always appreciate. They don't. A housing market is still a market, so your house could depreciate like any other asset. It's an undiversified asset in one location, so much more risky than diversified stocks and bonds.

[@nahuigonzalez6322]

My partner and I shook hands with someone who wanted to sell to a family and said they would sell to us. Even though our offer was less than listing, it was also everything we could give. We were so excited... then we found out that they sold to someone who made an all cash offer. We were so devastated.

[@jaymeese7714]

yep..most just want the money in the end...no honor..i guess thats America that i love that does not love anything but money

[@rmrobertmcgillivray]

Hah sucker...money talks and be walks!

[@dcg590]

Oh man I’m so sorry. I hope you find a place that’s perfect.

[@__-us3ou]

The use of cash in a housing sale should be illegal. The only people who can do this are foreign investors.

[@dcg590]

@@__-us3ou don’t be ridiculous.

[@gregorykerns378]

Homeownership offers the benefit of a long term investment. Renting for 30 years offers $0 in equity.