No One Can Afford Homes, And People Are Furious

[Yo_Mama_Been_Loggin]

[AllaN01Bear]

1. it is going to get to the point where we all will be on the street except the uber rich.

[ret5hd]

2. you are no longer a citizen...

you are a consumer

you are no longer an owner…
you are a renter

you are no longer free…
you are a slave

when they are finished with you…
you are fertilizer

[Mosby]

3. The median price for existing homes is above the median new home price.

This has only happened a couple other times. It's mostly due to limited supply and aggressive pricing by realtors. While the rates right now are fairly reasonable, homeowners are often reluctant to sell because they are sitting on mortgages with significantly lower rates. Getting rates down below 4-5% would free up a lot of inventory, but I don't see that happening.

He mentioned foreign buyers and suggested that rich foreigners and companies like Blackrock will eventually control large swaths of residential real estate and that will trigger a communist revolution or something but there are things that can help with this very real problem. In Canada they passed the Prohibition on the Purchase of Residential Property by Non-Canadians Act that requires title holders to be Canadians, something similar could be done to restrict company ownership of large numbers of homes. All without killing the landlords.

[Stargazer99]

4. After World War II no foreign enitity was allowed to purchase assets in the USA

But greed turned that safety net into nothing. When is the average working Joe going to understand the wealthy are the source of our problems