Real estate investment groups are buying up an increasing share of houses and renting them out – in some cases to families who had dreamed of owning their own homes. According to one report, in January, 33 percent of all homes purchased in the U.S. were bought by investors. One family tells NBC News’ Antonia Hylton that the situation makes it challenging to save up and “get out of the renting game.” Proponents say rental companies are giving those who can’t afford to buy a home the option of living in a traditional house. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
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#wallstreet #homes #realestate
Wall Street-Backed Companies Buying Up Single Family Homes
There doing the same thing in California …
what is the point anymore of working 40 hours a week? to pay someone else mortgage…what a sad situation for americans.. wallstreet greed
Thomas Jefferson said it best. Wait for the end. https://youtu.be/jtYttjnYWN8
You can blame the sell-out Democrats who controlled Congress in 2008 for the housing shortage today. Speaker Pelosi let the $800 billion in the TARP program be used for bailing out Wall Street, not American homeowners whose homes had suddenly been worth less than the mortgages on them. That was the original purpose of the TARP money. Reptile Pelosi said nothing then as the asset managers on Wall Street, especially BlackRock and Blackstone, suddenly flush with American taxpayer TARP money, went on a home buying binge, hoovering up millions of foreclosed homes. Homes they then rented out, sometimes to the former owners who were forced out by banks controlled by BlackRock. A sickening story of corruption that NBC would never cover.
I curious how this affects local politics. Homeowners are going to be a little more involved in the town because they have an investment in the community. But with renters they can take off at anytime. So are will city government be less inclined to fund community wellness things like parks and schools, or local small businesses so that the city can give more money towards supporting chain businesses?
HOW MANY HOUSES CAN YOU LIVE IN —- An owner should occupy that home. It’s a problem for regulation, not deregulation.
Lets make this illegal
This really should be ILLEGAL
I’m renting from a “corporate landlord”. To make maintenance easier, they make the renters pay for things like pest control, landscaping, and I’m also responsible for the washer, dryer, and refrigerator in the unit I’m renting. So I have a lot of the responsibilities, but none of the rewards of homeownership as a renter. 🤦♂️
@G.C. I know, but if hes paying for washer/pest control/refrigerator etc separately, it seems like this landlord can make him pay another fee is where I am getting at. This gentleman is paying things separately of what should be already included in his rent. When I rented a house years ago, everything was included in the rent except landscaping.
That’s how it work. Poor work for rich
And renters can’t paint the walls and stuff like that. 😐
@Opal Opossum ofc they can’t. How that make sense. Everyone paint the crazy color
what do you mean by responsible for washer dryer and refrigerator in the unit ? Does it mean you have to install them ? as far as pest control and landscape well its good. you do not have to worry. I mean not a bad deal at all.
The American dream is a bs lie it was never real and works the way it was intended.
Z podsłuchem czy bez znajomość jest zakończona. Zaatakuje mnie gdzieś na ulicy odpowiedź będzie natychmiastowa. Ostatnie mój wpis i będę się prosił Holandii o pomoc 😃
It’s because the old people and the people that don’t care or about to die are trying to sell there house over price plus they will never buy a house for that price the old people made our future worse
They just want people and kids in jail apartments or studios
Everyone is being held hostage by corporate slum lords, they are evil and immoral totally devoid of any ethics or conscious! They’ll burn on the ninth ring!
People could just flat out refuse to sell to big corporations, all it takes is a sense of principles.
That’d be a hard sell when these investors can come in, forgo the usual mortgage and appraisal process (which takes weeks or months), and pay in cash what the seller wants in the first place. It’s too easy for the seller to accept those investor offers especially if they’re trying to get rid of the house as quickly as possible.
I’ve turned down a offer that would’ve got me 200k over what I paid 😂 but then good luck finding a new home in the same area.
Realtors don’t disclose the buyers to sellers.
@susan jane Terry Well, the buyers will be visible to the sellers once they sign the purchase contracts. Usually companies and investment firms like to sign in the company’s name with maybe a rep who has to be on record.
Happened to us. The sellers sold to us a young family instead of the two investors that outbidded us. So grateful!
Reminds me of Reddit and GameStop versus Wall Street and how they change the Robin Hood stock rules just because one of their weasel buddies lost money it’s always been Rich against poor
These companies are wasting their time buying up these homes. A major change is coming on this Planet. 💯
Big time.👍
They have more insider information, they will probably all sell the houses to get out before the crash.
What are you talking about? They are a part of the change! “You will own nothing and be happy”- World Economic Forum.
I wouldn’t even waste my time trying to buy a home in this country. I’ve got my sights set on Portugal, Sardinia, Brazil, or Thailand… places where the dream (because its no longer American anymore) can be attained. Many of these places also have universal healthcare and free education as well.
You don’t think the people in those countries struggle, they’re ideal for Americans because America is a much richer nation than those making it easy for us to gentrify those nations.
Yeah, Murica is a joke. Definitely Leaving Soon.
@N Hinton please do and stay gone
They are NOT creating opportunities for those who can’t afford a home. By buying up the market and raising sky high rents they ARE the problem.
OUR COUNTRY IS OWNED BY THESE COMPANIES… WE BAILED THEM OUT FOR THEM TO SCREW US… THIS IS A CORRUPT GOVERNMENT FOR YOU.
That happened to me and my spouse. Just as we we’re about to get the approval investors stepped in and bought in cash. I was bummed at the time.
🤬
Drive them out and scoop them up. The greed squeeze,and what you’re left with is choke and awe.
She husband has a beer gut
Yeah people shouldn’t rent from these companies
Capitalism at its finest
dont buy it from them. they lose business.
This has to stop. It is ruining the US. Owner occupied homes and no foreign investors. Guess Biden is busy with more important things to pay attention to where people will live.
Is this some kind of new form of indentured servitude?
“To all homeowners with any decency left do not sell to investors sell it to a family that can make memories in a home you gave em!”
Nobody’s going to turn down a high bid
“NRHC member companies own just a fraction of the homes…”
Interesting way of putting it. Not giving an exact percentage, “just a fraction.”
Well, 99/100 is also a fraction, and that’s almost all of them.
Not good.
Oh well it’s the American way deal with it.
My American dream is keeping a job I absolutely love. Screw getting in debt for a house someone can build half the price the professionals charge.
America needs better laws
Raise property taxes and give a discount to owner occupied.
This is a major problem for the USA. Wall Street companies (and foreigners) should not be able to buy family homes. Period.
I’ve tried 5 times to get a home and each time I was out bid by $50k in full cash payments by corporations. I wont even bother trying again, will just stay in my cheap ghetto apartment an use that money to go on vacations or such.
This system is just one big plantation
The solution is simple, increase property tax for every property owned that is greater than 1. I just checked home prices in “fishers indiana” and those homes are way overvalued. They should just move somewhere else. No way a home is worth 400k+ in a place like that lmao.
Completely agree and been saying this for years. Any place that isn’t your primary residence gets taxed higher. The more properties you have, the more taxes you pay.
NYC was trying to institute a Pierre de terre tax but the powers that be blocked that. It’s fukt that we don’t have something like this already.
American Dream seems more like Corporate America to me.
Ok if you rent from these A O don’t pay them and trash the place.
Never understood why people work backwards. You’re supposed to get the house and then have the kids.
Keep corporations out of purchasing single family homes and condos. Families can’t compete and the drive for profit will make normal people suffer. CEOs of these companies should be prosecuted and thrown in jail.
AMERICA…LAND OF GREED!
My 28 yr old son is trying to buy his first home. To know what he’s had to overcome to even get to this point is a story in itself. But now he’s been outbid (and/or lost out to cash offer) THREE times in the last 10 days——all corporate investors. Lubbock, Texas. [single family homes; $200K range]
Shameful, but if we keep electing people who do nothing about this we have only ourselves to blame. I doubt there’s even been any politicians inundated with calls or emails about this serious problem.
It’s disgusting.
It can be even more expensive
@Nicsxnin 🙄
@Nicsxnin Right?!! I’m inclined to believe the best way to approach it (short-term anyway) is at the community level-by way of city ordinances. City ordinance limits how many unrelated people can occupy a home (university town)—-so….in for a penny, in for a pound. 😏
Should be a law against this 🐂💩
This is why. All of our stock going down everyday.
It’s part of it. No one wants to stay where they can’t afford to live and America has become unaffordable for many.
You will own nothing and be happy.
That’s what happens when people sellout the neighborhood to investors
Sick everyone should stop looking and let those folks lose money
Say good buy to home ownerships.
Sorry, that house is no longer for sale, but you can rent at 5,000 per month for one year only and things can change later on and will have to move out.
No regulations, corporations pay top dollars on campaign contributions 😉 😜
Rent an apartment and not a house. Just let all these houses that these investment companies are buying up remain empty. As long as they get profits, they will keep buying up all the houses and renting them out. It’s disheartening that these real estate investment companies are allowed to buy up all the homes and then rent them out.
Not everybody can live in a apartment, low supply
I guess you haven’t seen what has been happening to apartments lately? Rents have shot up and the people who needed them are being priced out.
“You’ll own nothing and be happy”. That’s the motto they’re pushing for the future. They don’t want you owning anything in the future. No car, no home, etc. Just want you to be working 24/7 and renting. It’s happening…
This is what happens when you create a quasi-religion centered on worshipping CEOs and cutting all their taxes, which started with Reagan.
every one had it tough in life
So what happens if all Americans stop renting from Wall Street and every American homeowner opened their doors to renting out extra rooms to these families? We need a financial revolution against corporations and investors who are destroying our American dreams.
i often get letters in the mail from investors looking to buy my home, i think it’s mainly the land that they want, my property value has literally doubled in the past 10-15 years
if everyone gave this family $1 he can buy a house and them some.
Land of the free, home of the greed.
Buy land and build your own. Fu** em
They have to limit what corpos can own
The American dream is only a catch phrase, it does not exist. We need to stop fooling ourselves. We live in an American nightmare
Mao was right
Comanies that own Houses should be illegal. An Individual should only be allowed to have 5 – 10 homes. We shouldn’t have companies having 20,000 – 250,000 houses. This is why we have a housing crisis
An individual shd only have ONE home, the one he lives in
@Eric No. Im a Socialist and even that is stupid. I own Two Houses and I should be allowed to own more. But there should be a limit where an Individual can own a set amount of houses. This will allow a greater amount of Families to build generational wealth, instead of a few Billionaires.
@Eric
Thank you🎯
@Jarid Gaming
Greed.
Capitalism is just Slavery with Extra Steps. Y’all are Serfs, you live in your Masters home. You work the Masters Factory, you buy the food Master makes. Most Farmers dont even own the land they work or are contracts that make them Poor. Admit it, Capitalism is Slavery
The fact that this is legal proves that democracy does not exist in America
You will own nothing and you will be happy 😂
The American dream of owning a home is taken away from corporate company greed just like everything else…..
Takes the game Monopoly to another level 🎲
Governments should BLOCK all Big Investors and Big Company. Not because they have money $$$$, Governments should TAXES more on Big Investors and Big Company if they are buying the Homes that they do not LIVE IN.
I think ALL rental property should be owned by the wall street backed investors. Why??? Because they have the BIG BUCKS to fight in court for LANDLORDS RIGHTS. To many tenants out here screwing over small mom and pop landlord’s. Using the court system to continue screwing them.
Old news. They’ve been doing it for at least 5 years. Should be regulated but I’m sure the Republicans will not allow any sort of regulation.
Investors still trying to control something. Something tells me they are in for a big big fall. Till they recognize the creator is in charge they will fail in what they do. To big to fail, what a joke. Pride before the fall.
There should be a limit on the number of homes can be sold to corporate/investors. Limit per state, per city etc..It’s fk’n ridiculous!
They need to invest in building new home and sell it back to us
Oh this is bad
Maybe they can buy a house near that area…..you can’t always get the best house and be in the best neighborhood. 🙄
That interviewer is fine 😍….no offense intended.
I love how government is essentially powerless against corporations today, asking and pleading for them to change instead of using power against them. Corporations have become so powerful, they run the government
If people don’t rent single-family homes they will stop renting and sell the homes!
Why do they realized this??? It’s been happening for awhile now.
This has to be stopped, it’s everywhere and there is no escape from it. Large corporations with large amounts of cash for buying homes to lease will outbid an individual homeowner every single time. It’s absurd this has been allowed to happen and I don’t care what has to be done at this point to stop it. Having an affordable roof over your head will add an extra 10+ years to your life so long as you are not stressed out about keeping it.
Should make laws that companies can not buy house at all.
The people that own our neighborhood are halfway across the world lmao
Good old American captalism. Where investors buying up properties is concerned legal but people converting single family homes into multi family ones to provide cheaper housing is considered illegal.
I hope the market crashes and these investment companies lose their shirts.
thats good, now more people have the opportunity to rent
Well we don’t want China buying up anymore of our real estate and the average citizen can’t afford it, so where does that leave us…
This should be illegal
Why it’s just capitalism at work. This IS the American dream. This is what our grandparents sacrificed; to give us. Don’t complain about those Wall Street guys. Work harder than them to get what you want. Build your own Wall Street.
Got to go get my antidepressants refilled. 👋 bye 👋
Water, electricity are return controlled for corporations. Not housing?
There is a Class Warfare Revolution coming. The working poor will one day rise up and guillotine the top 0.01% of society just like the French working poor did in the 1700s
“Let them have cake” – Elon Musk and Jeff Bezos
Congress won’t stop them. This is the new market of extortion.
The rich are out of control!!!
its capitalism. pure and simple. might not be fair, but its the way. The only solution is to move the boonies
Laws can help stop the pigs from Wallstreet profiting off these kinds of scams and fraudulent acitivities, eveytime Wallstreet is involved in the real estate market the economy tanks and the US hits recession. 😀
Was a 3% fractional requirement at banking institutions from what I was able to determine at the Fed it goes something like this:. Taking the good advice of Warren Buffett to get out of cash to look for offers such as one that pays four times more than anybody else as advertised by Goldman Sachs savings with their CD product offering a full 0.5 0% interest in their high-yield category. Using the 3% fraction reserve requirements formula they can reload that money in any way that they want to but creating 500 times potential credit if only they can find demand for the credit. People banging at the door willing to pay 30% borrow some of it that same at 18.5 and 9%. Finding it hard to find borrowers willing to pay they look to the investment gods to find somebody anybody trusted willing to accept massive amounts of credit charging 0.02% interest, perhaps Goldman Sachs investments right next door! Your high-yield $10,000 deposit create the potential for $5 million dollars worth of credit that they can walk up cash in hand all borrowed for free and outfit everybody except the boss purchasing all private properties confiscating them into corporate and banking hands. Today at 10,000 deposit does not create $100,000 worth of credit as it did previously but 5 million worth of credit available if anybody takes it. It’s offered to the highest bidder and with so much available credit left over they can loan it to themselves at no cost at all not to mention the instant profits from fees no doubt in the millions based on this $10,000 deposit. Zeitgeist addendum explains it well using the 10% method but now we’re 3%, so instead of loaning it 10 times the deposit its value they’re able to create 500 times it’s positive value of credit if only there’s a taker to accept the credit. And that’s how money is created.
well this is interesting. Companies getting in the mid tier housing segment.