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Re: The Corporate Ownership of Homes
Gary Berman just oozes the sense of entitlement and arrogance that typifies globalist oligarchs. His company, Tricon Residential, owns 30,000 single-family homes in the United States and is buying more at the rate of 800 per month. His $5.5 billion corporation (and companies like his) has the resources to snap up the kind of home young families would like to buy. He says it’s OK because “Millennials don’t really want to own homes.”
I tend to disagree, as the father to three “Millennials” and the uncle to several more. Millennials would very much like to own their own homes, despite being propagandized their entire lives to disdain property, to have a preference for “experiences over possessions,” to own nothing and be happy. There are very good reasons for wanting to own property; and very good reason that the oligarchs don’t want you to.
Authoritarian Government supports the trend of large corporations owning rental properties. Corporations can do things that Government Constitutionally cannot (at least not until the left gets another one or two on the Supreme Court). Government cannot censor speech, but Big Tech is happy to on the Government’s behalf. If the Government cannot mandate you to take a vaccine, your employer can threaten to fire you if you don’t. If you protest against the Government, the courts may not allow them to freeze and confiscate your bank account, but a Government-regulated bank is only too happy to oblige.
So, imagine if a few companies owned the majority of homes in the United States. Perhaps, at the urging of regulators or elected officials, they might decide not to rent to gun owners, or people who protest at school board meetings, or people who think the maximum number of sexes is two. Democrats would love this state of affairs. Republicans — to whom corporations are blameless, holy creatures — would only respond “If you don’t like it, start your own multibillion-dollar hedge fund.”
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Published in General
Glenn Reynolds is joining Ricochet. I wish he would look at this and pick a guest that understood all of these issues.
@blueyeti
lIbERtaRiAns dOn’t lIVe iN tHe rEAl woRld
I assume that big investment firms know something that we don’t and that is why they are pivoting into massive ownership of family residences. Do they know that monetary policy will stay loose and cause inflation? Do they know that immigration policy is going to cause a huge housing shortage? We see the trees, but do we see the forest?
Probably not. Those that can’t buy enter the renter market. Rented houses probably have lower average occupancy that owned homes (more turnover), which effectively reduces supply.
It was probably discovered by politicians during the dot-com bubble. There were crazy capital gains concentrated in California.
I just saw his answer. He made it clear he was only talking about the federal level.
1971 for sure. Arguably 1946.
Brettonwoods was about winning the Cold War. Then we broke it in 1971 because we were the only ones that could win the Cold War and we were overspending so we just did it. Everything is about force. lol
Inflationism is the only way you can have militarism. It really started slapping us in the face when trade an automation took off. He said that in the long run it causes political and social problems which we are obviously experiencing right now.
His answer totally dovetails with what I keep telling you guys. We should have stopped with the inflationism and went totally libertarian right after the Soviet Union fell.
The problem with the system is, the central bankers didn’t have the foresight or wouldn’t read the riot act to the Western politicians about what needed to be done. It’s just bogus theft by government. You are stupid not to get in on the action. Then it collapses.
For the drivers themselves, maybe so. But I was referring to the corporate structure. Last I heard, anyway, none of them are actually self-sustaining or profitable, and they keep burning through investor money.