Tweet of the Afternoon #2:

[applegrove]

Link to tweet

No wonder there is inflation: too much wealth chasing too few investment opportunities and getting into markets only families used to be in.

[Wounded Bear]

1. Yep, it's not homeowners driving up prices...

it's hedge fund managers and filthy rich assholes with nothing better to do with their money.

[iluvtennis]

12. Exactly.

[CanonRay]

2. Another Wall Street bubble that is going to burst

[markie]

3. so wrong...

[alwaysinasnit]

4. Perhaps Canada has the right idea.

https://betterdwelling.com/the-canadian-government-just-put-real-estate-investors-in-its-crosshairs/

Canada quietly put real estate investors on notice, right before the holidays — probably hoping it slips under the radar. A newly re-elected Liberal Party of Canada (LPC) distributed mandate letters. These letters contain orders for the Minister to execute and are usually pretty dry. A big exception is the Minister of Housing’s mandate letter, which puts real estate investors in its crosshairs. The Minister has been ordered to cut profits, deter speculation, and limit leverage. Here are the key takeaways.

snip...

[Jack the Greater]

5. This is EXACTLY why communism became so popular in certain times and places!

I absolutely DETEST people who do this! Such corporations should be forced to divest their holdings on the open market.

[uponit7771]

7. +1, unfettered capitalism sucks azz ... time for caps and priorities for houses

[uponit7771]

6. Yeah, more proof inflation is ***NOT*** organic

[dchill]

8. This is going to end up with someone saying...

"The rent is TOO DAMN HIGH!"

[towerbum]

10. ALREADY IS ! Florida - 1bed.-1bath, apt.- 1900 a month ! ridiculous!

Need to talk to the dictator down there !

[Richard D]

13. Rent??

Most of the better places to live have fewer and fewer places for rent as investors buy up properties and turn them into Airbnb rentals.

I say this with bitterness as a few days ago I received an eviction notice so that the owner can airbnb the studio guest house I've lived in for 8 years. Fortunately she can't evict me until 2023, but the clock is ticking down.

[yonder]

9. TFG's tax cut for the wealthy enabled shit like this to happen, IMO.

[Rebl2]

11. Absolutely

What happens when these houses they bought up don’t sell?

[Takket]

14. they will make millions of rentals

home ownership will be a thing of the past, along with the equity and financial opportunities that comes with it. If they can get rid of home ownership, they can funnel more money to billionaires