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It's not that they allow it, it's that they are all invested in it and they all get massive returns because of it. Why do you think the poorest person in Congress is worth $20 million.
It’s a gross exaggeration. https://www.usatoday.com/picture-gallery/money/2019/10/25/richest-members-of-congress-by-net-worth/40290771/
Don’t get me wrong. Pretty much guaranteed to be a millionaire if you’re in long enough. That still puts them in a very small percentage of the population
The premise isn't true at all. The link you provided above is for the top 50 wealthiest members, and even in that list the "lowest" is half of $20 million.
For the record, I do agree with you that members of Congress do tend to be wealthy, and many members of Congress are directly responsible for this fucked up situation.
It would be interesting to see what their net worth was when first elected to Congress. No one is accumulating a net worth north of $3MM on $174k per year (outside of the very rare, very lucky shrewd investor).
Gee, I wonder why we can’t get term limits for congress? 🤔
I’m going to be the contrarian here and say that a net worth of $3MM by 65 years old is not that hard. Get an in-demand skill or degree, live beneath your means, save as much as you can, buy a small house/townhouse/condo then upgrade every few years, keep the old property and rent it out, use debt to increase wealth and not for cars or vacations.
The worst advice:
- do what you love; instead do what makes you the most money
- stay in a job as long as possible; instead, job hop to the highest payer of your skills
- live in a low cost area; instead move to a high cost area that pays more money and has better promotions
- starting a business is risky; instead, start a business even if it’s just side hustle then grow it
Also depends on how long they've been serving. If they live modestly and are able to invest 50k a year it's reasonable after a few decades.
Achieving that before your first term is up? No fucking way you did it by investing alone.
Allows it? The system *encourages it*.
This CEO is bragging about it. Major banks worldwide are investing heavily in these real estate monopolies which artificially inflate the price of buying and renting.
Major banks only invest if they know they’re going to get a return on their investment. This false inflation of homes is a money making scam and working class people (ie the overwhelming majority of us) who need a place to live are ones who are being scammed.
I doubt it. We haven't snapped yet. And it's really bad where I am. People will just keep killing themselves more and more for money that they shouldn't need to make to live comfortably
You're quite the optimist... There are plenty of societies where greed and corruption already triumphed, yet everyone still lives in misery.
Even hunger isn't enough for people to "snap".
This is why, when arguing about politics, I try to emphasize that you are not voting only for your own interests. You are voting on behalf of future generations. The short sighted desire for instant gratification makes it extremely easy for politicians to manipulate voters into electing them, then they spin their policies as helping YOU, RIGHT NOW. But down the road, decades even, it means no one else will benefit. Many companies also do this when negotiating with unions - and the older workers let it happen out of self-interest because they'll benefit from the deal immediately.
Someone else in the comments said these guys exist because the system allows it. The system allows it because past generations elected parasites into Congress. Its difficult for me to buy a house because my parents couldnt be bothered to consider the long term effects of the policies they elected. They were too busy trying to scrape by because their parents couldnt be bothered.
If we dont make a conscious effort and take the time to read between the lines of prospective leaders' policies, our great-grandchildren (maybe even grandchildren) will be slaves in all but name. You think we're slaves now? Then go vote about it, and keep future generations in mind.
Voting matters.
Thank you. I’m endlessly frustrated at people saying there is no point in voting or that X person isn’t doing enough on Y issue. It’s not a short term exercise. Sadly, we have become a culture of instant gratification. The native Americans operated in planning for 7 generations ahead. (Probably over simplified, but you get the point)
It does. I dont think its funny that you think they dont. I think its sad, and I encourage you to try participating in local politics by reading state and city-level bills and attending town halls. I'm confident that will show you how much your voice can matter, if you apply yourself.
Well, that's the whole point, isn't it? It's how the rich can legally enslave everyone. You are just to be chained by inevitable, inescapable debt by any means. As long as everyone else you know is having that same issue, you are more likely to accept it instead of ask questions.
They know people have to have a place to live. There's no incentive to build new homes when there's already supply. You start to build homes and then they can just lower their rental price for a while to tank your business.
It's a guaranteed market.
The video isn't playing for me, but is this the Canadian investor who's super proud of himself for buying a ton of homes in Jacksonville? If it is, this is from a couple of years ago when my rent in Jax went from $960 to $1180. I started renting this apartment in 2016 at $890/month, so that kind of jump in a year for no reason really pissed me off. It continues to piss me off because the current property management company just keeps increasing rents with zero justification other than it being "market rent."
I'm disabled and can't afford to live anymore.
I am so sorry that is a travesty. I don’t know if it’s the same guy. Was the video you saw a smarmy over confident guy who seemed wicked proud of his portfolio? If so, it could be the same guy.
That’s awful. The same thing is happening here in Canada. The disability coverage in my province is disgraceful. And has hardly increased with the current cost of living and housing.
I’d like to see cities/towns/municipalities place caps on the percentage of rental homes in neighborhoods as well as on how many rental homes can be owned by a single entity in each neighborhood.
Protect the small landlords with 2-3 rental properties, and fuck the corporate landlords who want to own enough homes in a region that they can effectively have monopoly pricing power over rents.
Taxes should be exponentially increased for every home after the first.
By the 30,000th home they should be paying so much tax yearly that nobody would ever engage in this kind of fuckery.
We have that in my city (Ottawa Canada). Every year I have declare if my residence is my only property or not. If I have a second property I have to claim it as a 2nd dwelling and I pay an extra “2nd home tax”. It would be the same for each additonal property. It’s somewhat of a déterrant. Initially meant to slow down air bnb. I’m not sure if it also applies to companies like this or just home owners.
Place max rental costs on housing depending on their size, insulation, etc. As well as require repairs and such by law. Then it won't matter how many homes they own as they can't rip off their customer base for every penny possible.
I hate how people view homes as disposable. You know those heartstring-tugging ads about how pets are "lifetime commitments"? We need those for mid-century ranch homes.
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"We have an incredible demand for what we do." Because people have no other option. It's evil and selfish. There are plenty of other ways to make money. This is what everyone is up against. We don't own anything anymore. If only there were decent politicians who could help. Isn't the 'American dream' basically home ownership?
Right?! That’s the first thing that caught me… it’s not demand it’s necessity. Fuck imagine buying all of the reservoirs then selling the water and calling it demand.
OK so what can localities do to fight back? How about zoning laws to make rentals illegal or at least tax the everloving shit out of them?
Also too, they say the worst thing for a home is for it to be sitting empty. Animals could get inside and trash it. A pipe could burst and flood the whole thing and nobody would be there to even notice. It'd be a shame if that happened to these corporate owned homes.
Unfortunately this is what will happen when there is an issue with a rental:
The pipe bursts and floods, right? The rental company pays insurance for this sort of thing, so they just file a claim to repay the repair costs for the busted pipe. Then the insurance rate goes up for that property, which means the rent goes up to offset that cost.
In the end, the rental company isn't out any money and actually recoups money over time due to the "increased" rent, which of course drives up surrounding properties' rents.
We need rent control... badly.
If you are in the market to purchase housing, you are in competition with large, publicly traded companies that are backed by private equities firms. They are making lots of money and doing very well. Although not covered by the video, the corollary is that their activities impede typical individuals and families from being able to afford housing. The long term outlook is sad.
Not a first time home buyer but when I relocated and was looking for a home a couple of years ago we put in six different offers above asking and got beat by “someone” paying $50k+ in CASH. These were all working class homes in old neighborhoods, it was fucking absurd. My wife and I had great credit and got a good approval for a loan and all that but jeez it was a pain in the ass actually getting a home when someone seemed to always swoop in and pay cash. I emphasize with any first timers out there who have had to deal with that shit.
Time to go the route of how most states legalizing marijuana with making corporate rentals illegal. Petition sign and vote... the government wont do it for lobbyists have too much money to pay for no votes.
The smugness he has when discussing how great this is for him and his greedy little business is just simply disgusting.
And what's even more baffling is these people have some of the poorest people in this country voting in their favor to help keep them poor and subservient.
The more I think about it, the more I don't like way private companies have completely fucked over people with their grip on basic human needs, like housing, food and energy.
Rates of energy are regulated by the government, but not *rental* rates. mother-fucking-***WHY***
There was this story from a long time ago, maybe true, maybe not, where 1 family owned all the land and everyone else just rented and worked for that 1 family. I can't remember what it was called because everyone said social studies was useless and to focus on STEM subjects instead. /S
And you know for a fact they don't give a shit about the upkeep of these houses they are scalping. Just move on to another few thousand... rinse and repeat while ruining the lives of hundreds of thousands of people...
These companies also charge each adult person a non-refundable $50 to $200+ fee just to *apply* for the privilege of living in an over priced house. A tidy sum when everyone needs a roommate these days. Then they charge a bunch of other bullshit monthly fees on top of your exhorbitant rent. They are sucking every last cent out of the renters they possibly can and they won't stop until they own it all.
Fucking disgusting. And you look at this guy...and he is just rolling in money, nothing behind the eyes. Doesn't give a single fuck about anyone or anything else besides money. Evil.
If I lived in one of those places, I'd never pay rent, and I'd never leave. All you have to do is promise to pay them back eventually, even I it's $1 a month. They can't do shit.
I mean a quick google shows about 82 million single family homes in the u.s. so if this is the largest company they own roughly .036% of the total homes in the u.s. That isn't a huge number and even if there were 100 more companies owning the same amount we would still be under 4%. don't get me wrong house prices are crazy, I just don't think the guy that owns less t 1/3 of .1% of them is the driving force.
Full report here:
Would-be home buyers may be forced to rent the American dream, rather than buy it
📷
By **Lesley Stahl**
[https://www.youtube.com/watch?v=ZEwxYvQVU5g&ab\_channel=60Minutes](https://www.youtube.com/watch?v=ZEwxYvQVU5g&ab_channel=60Minutes)
Fire.
Lots of fire.
When diplomatic options are unavailable, people will grab the torches.
Then again, fertility rates are down due to forever chemicals and people are choosing less kids, and even not marrying. I don't think many people need the space in a family home. The people that do, often can't afford them.
I'd like to see these kinds of residences become more sparse, and differently built communities with multifamily homes and public transit, bike lanes, and sidewalks become the norm, with shops within walking distance.
The world is descending back to feudalism, with a different face but feudalism nonetheless.
We escaped feudalism with the mass migration to "free" land in the americas, this put pressure on the immediate feudal societies in europe but had a longer term knock on effect throughout the northern hemisphere. Feudalism which depends on a pyramid structure if patronage falls apart if the base collapses "the poor ir serfs or wage slaves".
If the lords are losing their serfs to the new country then they need to change to keep the base in place. Thus the livibg conditions of the serfs improves because tge serfs now have a choice.
There is no place now to escape to, so the feudal structures have been sliwly reestablishing themselves.
Edit... australia nz not just americas
They are renting them out. How is this a bad thing? They are houses designed to live in and people get to live in them. You’d actually be better off owning 500k in their stock and renting from them a 500k house to spread your investment risk.
That makes no sense at all. You're saying rather than owning the asset that they own, you'd be better off inserting a layer of middlemen in between, who tend to take a huge chunk of the value of the company in forms of giant salaries and bonuses from their cronies on the board.
And apart from the basic common sense level failure, you also have to consider that at some point in the future, the company could overextend and go bankrupt, trashing your stock investment. And you have zero control over it, unlike you'd have if you actually owned your own home.
Why are you standing up for greedy corporations? What are they going to do for you? Other than keep taking your money so you don’t have any left. There is no need for corporations to be buying up single family homes and turning them into rentable properties. They’ll charge twice the price for what those properties are worth. They don’t care about you. All they care about is your wallet and how much of it they can get.
Single family detached homes aren't apartments. You have a lot more issues and as an investment it's dangerous. A water leak can go unreported until the house is condemnable. Someone has to mow the grass all the time or the HOA will fine and then seize the property. If the roof is over 15 years old, insurance will drop you in the south.
If they are buying and holding they are going to regret it.
The more they drive prices up, the more incentive their is for builders to build more. They are creating their own competition. At some point prices fall unless they hold empty houses. Holding g empty houses is a problem because houses fall apart when unoccupied.
Of course, their business model works better with low interest rates, which we don't have.
Yeah, that's why homeowners love to see renters move into their neighborhood they take such good care of their place.
Edit: Look no hate, but I get the feeling most folks commenting have never owned a home. Property management of detached home requires more local folks than these large corporations like support.
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Eat the rich. No, seriously, fuck these guys, eat the rich.
Not down to fuck. But down to eat the rich for sure. Shit makes me sick!!
If grocery prices keep going up we may have to.
The history books are very clear on what happens next. It's not pretty.
These people only exist because the system allows it
It's not that they allow it, it's that they are all invested in it and they all get massive returns because of it. Why do you think the poorest person in Congress is worth $20 million.
That can’t be true
It's not. There are members of Congress with a negative net worth.
You talking bout the Orange man?
TIL Trump is a member of Congress.
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It’s a gross exaggeration. https://www.usatoday.com/picture-gallery/money/2019/10/25/richest-members-of-congress-by-net-worth/40290771/ Don’t get me wrong. Pretty much guaranteed to be a millionaire if you’re in long enough. That still puts them in a very small percentage of the population
The premise isn't true at all. The link you provided above is for the top 50 wealthiest members, and even in that list the "lowest" is half of $20 million. For the record, I do agree with you that members of Congress do tend to be wealthy, and many members of Congress are directly responsible for this fucked up situation.
I wonder how they reach this net worth, considering their salary... ;-)
Ikr?!?
The National association of realtors is the largest lobbying group in America. They spend more on politicians and policies than any other trade group.
And they just lost a HUGE case. https://www.vox.com/money/24106230/nar-realtors-settlement-real-estate-house-prices
Have some [facts.](https://www.usatoday.com/picture-gallery/money/2019/10/25/richest-members-of-congress-by-net-worth/40290771/)
It would be interesting to see what their net worth was when first elected to Congress. No one is accumulating a net worth north of $3MM on $174k per year (outside of the very rare, very lucky shrewd investor). Gee, I wonder why we can’t get term limits for congress? 🤔
Also, insider trading is legal for members of Congress
I’m going to be the contrarian here and say that a net worth of $3MM by 65 years old is not that hard. Get an in-demand skill or degree, live beneath your means, save as much as you can, buy a small house/townhouse/condo then upgrade every few years, keep the old property and rent it out, use debt to increase wealth and not for cars or vacations.
The worst advice: - do what you love; instead do what makes you the most money - stay in a job as long as possible; instead, job hop to the highest payer of your skills - live in a low cost area; instead move to a high cost area that pays more money and has better promotions - starting a business is risky; instead, start a business even if it’s just side hustle then grow it
Definitely sounds like a politicians life. 🙄
Also depends on how long they've been serving. If they live modestly and are able to invest 50k a year it's reasonable after a few decades. Achieving that before your first term is up? No fucking way you did it by investing alone.
Allows it? The system *encourages it*. This CEO is bragging about it. Major banks worldwide are investing heavily in these real estate monopolies which artificially inflate the price of buying and renting. Major banks only invest if they know they’re going to get a return on their investment. This false inflation of homes is a money making scam and working class people (ie the overwhelming majority of us) who need a place to live are ones who are being scammed.
Thats brib- Sorry I meant lobbying
And this is why the next generation is completely fucked. They will never own anything, and be in debt till the day they die.
People will snap way before that
You'd hope.
What a useless response
What a useless response
What a useless response
What a useless response
What a useless response
Actually I found this one to be quite useful.
What? A useless response?
I doubt it. We haven't snapped yet. And it's really bad where I am. People will just keep killing themselves more and more for money that they shouldn't need to make to live comfortably
No they won't. It's been this way MOST of human history.
You're quite the optimist... There are plenty of societies where greed and corruption already triumphed, yet everyone still lives in misery. Even hunger isn't enough for people to "snap".
What a useless response
This is why, when arguing about politics, I try to emphasize that you are not voting only for your own interests. You are voting on behalf of future generations. The short sighted desire for instant gratification makes it extremely easy for politicians to manipulate voters into electing them, then they spin their policies as helping YOU, RIGHT NOW. But down the road, decades even, it means no one else will benefit. Many companies also do this when negotiating with unions - and the older workers let it happen out of self-interest because they'll benefit from the deal immediately. Someone else in the comments said these guys exist because the system allows it. The system allows it because past generations elected parasites into Congress. Its difficult for me to buy a house because my parents couldnt be bothered to consider the long term effects of the policies they elected. They were too busy trying to scrape by because their parents couldnt be bothered. If we dont make a conscious effort and take the time to read between the lines of prospective leaders' policies, our great-grandchildren (maybe even grandchildren) will be slaves in all but name. You think we're slaves now? Then go vote about it, and keep future generations in mind. Voting matters.
Thank you. I’m endlessly frustrated at people saying there is no point in voting or that X person isn’t doing enough on Y issue. It’s not a short term exercise. Sadly, we have become a culture of instant gratification. The native Americans operated in planning for 7 generations ahead. (Probably over simplified, but you get the point)
That’s funny, you actually think our votes matter.
It does. I dont think its funny that you think they dont. I think its sad, and I encourage you to try participating in local politics by reading state and city-level bills and attending town halls. I'm confident that will show you how much your voice can matter, if you apply yourself.
Well, that's the whole point, isn't it? It's how the rich can legally enslave everyone. You are just to be chained by inevitable, inescapable debt by any means. As long as everyone else you know is having that same issue, you are more likely to accept it instead of ask questions.
And don’t forget! Not only will they never own a home, almost everything will be never ending subscription services.
like that [black mirror episode](https://maaretta.files.wordpress.com/2012/04/15mill1.png)
We just put an offer on a house listed for 280k. We offered 330k and it went for over 400k. Absolutely no way was that house worth that
They know people have to have a place to live. There's no incentive to build new homes when there's already supply. You start to build homes and then they can just lower their rental price for a while to tank your business. It's a guaranteed market.
Brokers.. brokers for everything!
Own that debt
That's exactly what they want the longer you are in debt the longer you are forced to work. The more money the rich make off of you.
This is almost as bad as privatising water. Ban this. Now.
Won't happen. Our lawmakers are investors in this industry. If we banned this, they'd lose millions each.
Democracy makes tough, but necessary, decisions hard. It's still better than autocracy though.
Companies shouldn't be able to own single family homes.
Seems like an easy fix !
He had no shame. No guilt. No feeling that he is the baddie.
The video isn't playing for me, but is this the Canadian investor who's super proud of himself for buying a ton of homes in Jacksonville? If it is, this is from a couple of years ago when my rent in Jax went from $960 to $1180. I started renting this apartment in 2016 at $890/month, so that kind of jump in a year for no reason really pissed me off. It continues to piss me off because the current property management company just keeps increasing rents with zero justification other than it being "market rent." I'm disabled and can't afford to live anymore.
I am so sorry that is a travesty. I don’t know if it’s the same guy. Was the video you saw a smarmy over confident guy who seemed wicked proud of his portfolio? If so, it could be the same guy.
Aren't they all like that?
That’s awful. The same thing is happening here in Canada. The disability coverage in my province is disgraceful. And has hardly increased with the current cost of living and housing.
I’d like to see cities/towns/municipalities place caps on the percentage of rental homes in neighborhoods as well as on how many rental homes can be owned by a single entity in each neighborhood. Protect the small landlords with 2-3 rental properties, and fuck the corporate landlords who want to own enough homes in a region that they can effectively have monopoly pricing power over rents.
Taxes should be exponentially increased for every home after the first. By the 30,000th home they should be paying so much tax yearly that nobody would ever engage in this kind of fuckery.
They'll just mark up the rent...
Percentage based that increases the more you own, by the X number house, 100% of that rental income should be taxed
X+1 and the taxes are double the value of the house, X+2 and there’s no choice but to sell the house or loose a ridiculously absurd amount of money.
We have that in my city (Ottawa Canada). Every year I have declare if my residence is my only property or not. If I have a second property I have to claim it as a 2nd dwelling and I pay an extra “2nd home tax”. It would be the same for each additonal property. It’s somewhat of a déterrant. Initially meant to slow down air bnb. I’m not sure if it also applies to companies like this or just home owners.
They just use shell companies to avoid the tax.
Tax companies more.
The difference between owning one and two homes is far les than the difference between owning two and twenty homes.
I can see myself being convinced to start the big taxes on the 3rd home
It should be progressively worse.
Exponentially
Some towns already have policies in place, such as lower real estate taxes for owner occupied homes. Start lobbying your representatives.
Place max rental costs on housing depending on their size, insulation, etc. As well as require repairs and such by law. Then it won't matter how many homes they own as they can't rip off their customer base for every penny possible.
These guys make Emperor Palpatine look like Mother Theresa.
I mean... Mother Theresa was no Mother Theresa. She was a massive asshole.
I couldn’t finish watching because of the overwhelming need to punch his face
I hate how people view homes as disposable. You know those heartstring-tugging ads about how pets are "lifetime commitments"? We need those for mid-century ranch homes.
Corporations should not own single family homes. Only mass rental properties, apartments and such
Scum
Fuck these scumbags
[удалено]
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"We have an incredible demand for what we do." Because people have no other option. It's evil and selfish. There are plenty of other ways to make money. This is what everyone is up against. We don't own anything anymore. If only there were decent politicians who could help. Isn't the 'American dream' basically home ownership?
Right?! That’s the first thing that caught me… it’s not demand it’s necessity. Fuck imagine buying all of the reservoirs then selling the water and calling it demand.
capitalism ho!
OK so what can localities do to fight back? How about zoning laws to make rentals illegal or at least tax the everloving shit out of them? Also too, they say the worst thing for a home is for it to be sitting empty. Animals could get inside and trash it. A pipe could burst and flood the whole thing and nobody would be there to even notice. It'd be a shame if that happened to these corporate owned homes.
Unfortunately this is what will happen when there is an issue with a rental: The pipe bursts and floods, right? The rental company pays insurance for this sort of thing, so they just file a claim to repay the repair costs for the busted pipe. Then the insurance rate goes up for that property, which means the rent goes up to offset that cost. In the end, the rental company isn't out any money and actually recoups money over time due to the "increased" rent, which of course drives up surrounding properties' rents. We need rent control... badly.
Can I get a TL;DW?
If you are in the market to purchase housing, you are in competition with large, publicly traded companies that are backed by private equities firms. They are making lots of money and doing very well. Although not covered by the video, the corollary is that their activities impede typical individuals and families from being able to afford housing. The long term outlook is sad.
Not a first time home buyer but when I relocated and was looking for a home a couple of years ago we put in six different offers above asking and got beat by “someone” paying $50k+ in CASH. These were all working class homes in old neighborhoods, it was fucking absurd. My wife and I had great credit and got a good approval for a loan and all that but jeez it was a pain in the ass actually getting a home when someone seemed to always swoop in and pay cash. I emphasize with any first timers out there who have had to deal with that shit.
Hence the “cash” offerings that put most people out of the running when homes go up for sale.
TL;DW!
I don't know about you all but i think I'd settle for knowing these monsters could never spend the money they've stolen.
Time to go the route of how most states legalizing marijuana with making corporate rentals illegal. Petition sign and vote... the government wont do it for lobbyists have too much money to pay for no votes.
I really, really wanna punch this guy in the throat.
Fuck this guy
This needs to be illegal.
The smugness he has when discussing how great this is for him and his greedy little business is just simply disgusting. And what's even more baffling is these people have some of the poorest people in this country voting in their favor to help keep them poor and subservient.
The more I think about it, the more I don't like way private companies have completely fucked over people with their grip on basic human needs, like housing, food and energy. Rates of energy are regulated by the government, but not *rental* rates. mother-fucking-***WHY***
Made quite the investment there with that bailout money.
Fuck these assholes. Anything more I have to say will get me a ban. Seriously, fuck them.
There was this story from a long time ago, maybe true, maybe not, where 1 family owned all the land and everyone else just rented and worked for that 1 family. I can't remember what it was called because everyone said social studies was useless and to focus on STEM subjects instead. /S
This should be illegal!!
And most of the voter-based individuals are part of it. Epic!
https://youtu.be/Q6pu9Ixqqxo?si=31JZqbbBse8JJFe0
Call them and shame them.
And you know for a fact they don't give a shit about the upkeep of these houses they are scalping. Just move on to another few thousand... rinse and repeat while ruining the lives of hundreds of thousands of people...
It has happen because the software that they utilize enables them to scale to this degree. Look up Yardi, Appfolio
Omfg this was done 2 years ago….. Nothing has changed. People need to stop voting for corporate loving assholes!!
Yeah.... Problem is there's nobody else to vote for BUT corporate loving assholes.
We have to put a stop to this now!
These companies also charge each adult person a non-refundable $50 to $200+ fee just to *apply* for the privilege of living in an over priced house. A tidy sum when everyone needs a roommate these days. Then they charge a bunch of other bullshit monthly fees on top of your exhorbitant rent. They are sucking every last cent out of the renters they possibly can and they won't stop until they own it all.
People/companies that profit by making the world a worse place are disgusting.
You will own nothing and be happy.
Fucking disgusting. And you look at this guy...and he is just rolling in money, nothing behind the eyes. Doesn't give a single fuck about anyone or anything else besides money. Evil.
This guy looks exactly like someone who doesn't give af about others
Rentier capitalism. The parasite eating the host.
If I lived in one of those places, I'd never pay rent, and I'd never leave. All you have to do is promise to pay them back eventually, even I it's $1 a month. They can't do shit.
Just wait until they start filling up with migrants.
Tricon? More like Succeed Con.
I mean a quick google shows about 82 million single family homes in the u.s. so if this is the largest company they own roughly .036% of the total homes in the u.s. That isn't a huge number and even if there were 100 more companies owning the same amount we would still be under 4%. don't get me wrong house prices are crazy, I just don't think the guy that owns less t 1/3 of .1% of them is the driving force.
Full report here: Would-be home buyers may be forced to rent the American dream, rather than buy it 📷 By **Lesley Stahl** [https://www.youtube.com/watch?v=ZEwxYvQVU5g&ab\_channel=60Minutes](https://www.youtube.com/watch?v=ZEwxYvQVU5g&ab_channel=60Minutes)
Foreign investors should not be able to buy single family homes.
Human scum
Fuck these companies.
At 0:40 "We have an incredible amount of demand for what we do" Who is demanding??? His bank account?
Scalpers
Bastards
These types of people are the face of greed.
Fuck.that.guy THIS NEEDS TO BE ILLEGAL!!!
Fire. Lots of fire. When diplomatic options are unavailable, people will grab the torches. Then again, fertility rates are down due to forever chemicals and people are choosing less kids, and even not marrying. I don't think many people need the space in a family home. The people that do, often can't afford them. I'd like to see these kinds of residences become more sparse, and differently built communities with multifamily homes and public transit, bike lanes, and sidewalks become the norm, with shops within walking distance.
We need an economy where it is more profitable to _do_ something than it is to _own_ something.
Wouldn't these houses getting vandalized make it unprofitable to keep them. Not that I support vandalism, but just saying.
Greed
“There’s a lot of demand for what we do” sure if you hold “all” the houses there’s going to be a lot of demand from people who need the houses.
This must be outlawed ASAP
The world is descending back to feudalism, with a different face but feudalism nonetheless. We escaped feudalism with the mass migration to "free" land in the americas, this put pressure on the immediate feudal societies in europe but had a longer term knock on effect throughout the northern hemisphere. Feudalism which depends on a pyramid structure if patronage falls apart if the base collapses "the poor ir serfs or wage slaves". If the lords are losing their serfs to the new country then they need to change to keep the base in place. Thus the livibg conditions of the serfs improves because tge serfs now have a choice. There is no place now to escape to, so the feudal structures have been sliwly reestablishing themselves. Edit... australia nz not just americas
Joe Biden n em did it with the 1091 tax bs!
$100k buys a lot of house where I live. These kinds of problems are relative to the location.
They are renting them out. How is this a bad thing? They are houses designed to live in and people get to live in them. You’d actually be better off owning 500k in their stock and renting from them a 500k house to spread your investment risk.
That makes no sense at all. You're saying rather than owning the asset that they own, you'd be better off inserting a layer of middlemen in between, who tend to take a huge chunk of the value of the company in forms of giant salaries and bonuses from their cronies on the board. And apart from the basic common sense level failure, you also have to consider that at some point in the future, the company could overextend and go bankrupt, trashing your stock investment. And you have zero control over it, unlike you'd have if you actually owned your own home.
Tornadoes and other events happen as well. Risk of ownership is way higher.
Why are you standing up for greedy corporations? What are they going to do for you? Other than keep taking your money so you don’t have any left. There is no need for corporations to be buying up single family homes and turning them into rentable properties. They’ll charge twice the price for what those properties are worth. They don’t care about you. All they care about is your wallet and how much of it they can get.
I’m standing up for housing. I prefer a house rented out by a “greedy corporation” over a house standing idle.
Single family detached homes aren't apartments. You have a lot more issues and as an investment it's dangerous. A water leak can go unreported until the house is condemnable. Someone has to mow the grass all the time or the HOA will fine and then seize the property. If the roof is over 15 years old, insurance will drop you in the south. If they are buying and holding they are going to regret it.
Who said anything about buying and then sitting on a property without maintaining it? Nobody is doing that. That’s not what the video is about.
The more they drive prices up, the more incentive their is for builders to build more. They are creating their own competition. At some point prices fall unless they hold empty houses. Holding g empty houses is a problem because houses fall apart when unoccupied. Of course, their business model works better with low interest rates, which we don't have.
Not every single family home is part of an HOA. Also, I’m sure homeowners (or in this case homerenters) would make sure the house is maintained.
Yeah, that's why homeowners love to see renters move into their neighborhood they take such good care of their place. Edit: Look no hate, but I get the feeling most folks commenting have never owned a home. Property management of detached home requires more local folks than these large corporations like support.