I find it interesting that during the mortgage crisis, banks couldn’t wait to unload the housing they were left with at fire sale prices, and now investment firms are overpaying to monopolize the housing supply.
We all know this happens everyday.
Submitted 7 months ago by STRIKINGdebate2@lemmy.world to aboringdystopia@lemmy.world
https://lemmy.world/pictrs/image/7b649b6f-5e2b-463b-b045-39da67f56b06.jpeg
Comments
reddig33@lemmy.world 7 months ago
Fried_out_Kombi@lemmy.world 7 months ago
It certainly doesn’t help that it’s literally illegal to build enough housing across the vast majority of urban land (at least in the US and Canada). Nothing like good ol’ fashioned manufactured scarcity to guarantee line keeps on going up.
CowsLookLikeMaps@sh.itjust.works 7 months ago
Yes! It’s also refreshing to see you mention parking minimums. It’s like everyone is blind to the sheer amount of parking lots everywhere taking up so much space.
henfredemars@infosec.pub 7 months ago
A friend of mine wants to build a small house on land he legally owns, but he’s forbidden by municipality law unless it’s a luxury home.
It’s dumb. He owns the property, but he doesn’t have the money to build a luxury house. Why can’t he build a small house?
I guess not dedicating your life to pay off your house is illegal.
STRIKINGdebate2@lemmy.world 7 months ago
Imagine legally forcing everyone’s house to look the same. Seriously lawn laws in are so bonkers yet nobody bat’s an eye at them.
afraid_of_zombies@lemmy.world 7 months ago
Except this is because of zoning and zoning exists because of racism.
Sir_Kevin@lemmy.dbzer0.com 7 months ago
How many single parents with four kids can afford a house?
Rolive@discuss.tchncs.de 7 months ago
All of them if it wasn’t for greedy corporations.
Kusimulkku@lemm.ee 7 months ago
Hey, 2$ is a bid.
DragonTypeWyvern@literature.cafe 7 months ago
Quite a lot, considering child support is a thing.
afraid_of_zombies@lemmy.world 7 months ago
That is about 40% off gross. So unless dad is making 240k a year…
PersnickityPenguin@lemm.ee 7 months ago
Name one!
Powerpoint@lemmy.ca 7 months ago
All of them if you take it speculators
preasket@lemy.lol 7 months ago
I think people misunderstand what BlackRock does. It’s a proxy for other investors. Investors all around the world buy assets, produced by BlackRock and BlackRock routes that money into corresponding shares/bonds/real estate, etc.
afraid_of_zombies@lemmy.world 7 months ago
The word “Produced” is doing some heavy-lifting in that sentence. When I hear “produced” I think of a factory making stuff that has value or a farm producing food.
Shardikprime@lemmy.world 7 months ago
I create software. Its not farm work nor is it physical but I can assure you I produce deliverables.
preasket@lemy.lol 7 months ago
It’s a way more generic word than you might think
c0mbatbag3l@lemmy.world 7 months ago
produce /prə-doo͞s′, -dyoo͞s′, prō-/
intransitive verb To bring forth; yield. “a plant that produces pink flowers.” To create by physical or mental effort. “produce a tapestry; produce a poem.” To manufacture. “factories that produce cars and trucks.”
Sounds like the word fits just fine. The investment firm “brings forth” the investment opportunity that someone without financial advisors and millions to invest needs to get into real estate through eREITs. That opportunity wouldn’t exist without them providing the service of connecting investors with and managing funds for the investments.
I believe in the classic Homer Simpson line this covers the “services” portion of “money can be exchanged for goods and services.”
dingleberry@discuss.tchncs.de 7 months ago
I am no BlackRock lover, but at some point you should ask yourself: “do I need more kids?”.
afraid_of_zombies@lemmy.world 7 months ago
No idea. Do those billionaire shitstains need all that money? We should take a few billions from them and see, and then go after your totally real not made up strawman.
stewsters@lemmy.world 7 months ago
I think that question should be up to you. Unless you really want to start another eugenics movement telling who can and can’t reproduce.
Shardikprime@lemmy.world 7 months ago
Bro literally didn’t say that but your comment does say a lot about how you think about others
Doomsider@lemmy.world 7 months ago
Society as we know it is going to collapse unless we have more children. Queue Dingedufus, “It’s your fault for having kids!”
You can’t make up this level of bootlickery.
Getawombatupya@aussie.zone 7 months ago
Should have picked a better baby daddy that didn’t duck out.
theodewere@kbin.social 7 months ago
this guy just knows there's a lot of cocaine out there and it's against market principles to let it go to waste
unoriginalsin@lemmy.world 7 months ago
What single mother of 4 is even shopping for, let alone bidding on, an actual house?
PrimeErective@startrek.website 7 months ago
A single mom who works two jobs who loves her kids and never stops. With gentle hands and the heart of a fighter…
unoriginalsin@lemmy.world 7 months ago
That cut is deep.
Shardikprime@lemmy.world 7 months ago
Really. This post doesn’t make sense. Wasn’t there a post like a few days ago saying most Americans can’t survive a sudden expense because they can’t save 1000 USD?
Then how come now they can bid for houses?
jaschen@lemm.ee 7 months ago
Ummmm let them have it. They are overpaying anyways.
Neato@kbin.social 7 months ago
That doesn't matter. Once corporations own enough of the housing market, they can literally sit on them and never sell. Then people will be forced to rent at whatever prices they want to charge. Initial high cost will be offset quickly by forever rents.
jaschen@lemm.ee 7 months ago
I used to think this way, but after being a home owner, a home is a depreciating value. Couple that with home repairs, bad renters, high taxes, and general business operations cost. Initial overpayment for a home will not let you pay return.
corsicanguppy@lemmy.ca 7 months ago
everyday
You mean ‘every day’, in English. #noChildLeftBehind
MisterD@lemmy.ca 7 months ago
Meanwhile if BlackRock became insolvent, the government would bail them out