11–20 of 166 posts
Resident-Owned Communities seem by far to be the best answer here, and I encourage folks to read up on it and see what you can do to help if you're so inclined: https://rocusa.org/ is one such nonprofit, but there are several.
Housing prices are skyrocketing in my area and there are stories on the news about investment firms buying up homes and putting them up for rent. What's to stop these well financed institutions from buying up more and more real estate and forcing more people into renting?
I'm going to guess on the record before reading article: debt based financing of the sale, PE firm steadily increases rent and lowers investment into facilities, bankruptcy and evictions ensue
It never ceases to amaze & depress me simultaneously.
How can individuals compete against institutional money? Housing prices are skyrocketing in my area and there are stories on the news about investment firms buying up homes and putting them up for rent. What's to stop these well financed institutions from buying up more and more real estate and forcing more people into renting?
Nothing and they are already are doing it.
Blackrock raised billions during COVID on the idea that once the evictions kick off, lots of homeowners will lose their homes and those tenants with black marks will have to pay more and more to rent.
Every person abusing the COVID moratorium just to screw over the "landlord" who owns one property is just one more nail in the US clusterfuck coffin.
Edit: it's Blackstone.
The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.
That security guy probably could use that food more than the dumpster.
I'm going to guess on the record before reading article: debt based financing of the sale, PE firm steadily increases rent and lowers investment into facilities, bankruptcy and evictions ensue
I mean, yeah, family-owned trailer parks have been "under-utilized" for decades, and you're pretty spot on in what is involved in properly "utilizing" them. However, there's a human side to it as well.
Plus, there's a plot twist where Republicans introduce bills in a state to enhance tenants' rights.
Interest rates need to rise, and soon.
The US are such a weird country... on one hand, Silicon valley et al, producing the coolest tech & the shiniest toys, and on the other hand... people who can only afford to live in trailer parks, even with a full time job. It never ceases to amaze & depress me simultaneously.