As I wrote ten months ago, Corporate America is buying up homes at an alarming rate, changing those houses into rentals. Now, in September 2023, corporate investment ownership has surpassed twenty-five percent of single-family homes. Stated in a Google Search of corporate owned homes; According to data reported by PewTrusts.org and originally gathered by CoreLogic, as of 2022, investment companies purchased one fourth of all single-family sales during the past 12 months. This amount may be disputed but the fact is, corporate investment interests have been purchasing swaths of the housing landscape, then renting those homes, completely changing the free-enterprise market in housing. In a balanced market, homes returning for sale is essential. Large corporate investors do not return the home to the market, only continue renting.
Corporate investment in single-family housing is all due to greed. The price of home ownership and renting is skyrocketing faster than inflation, which adds to homelessness and changes the landscape of America. Home sale prices have risen twenty-six percent since 2020. There are several factors determining the cost of housing, but corporate investors buying single-family housing and renting them out is one growing factor that is disrupting individuals as well as the GDP of our nation.
That one-quarter of the home sales to the investors, are now off the market. Investor's new deviation of homeownership in our housing sector must be remodeled before the floor crashes under us.
According to Pew research, rental costs outpace income gains. www.pewtrusts.org/...
I propose a grassroots movement to stop corporate America from destroying our American dream (Google Search: https://bit.ly/3EwPUk0).
Mothers Against Drunk Driving (MADD) changed how our society thinks about drinking and driving. I want to remove housing from the covetous culture of investments.
Investors are doing what they are supposed to do. They give us small investors a five to seven percent return on our dollar. You do the math: How long will it take for a young couple's investment to grow so they can purchase their own home? This past decade, housing prices have been rising about twelve percent.
Not many people see that the dream of home ownership is being wiped from the landscape. Renting a corporate home for twenty-five years will get you a new lease at exceptionally inflated prices. Home rental prices will not be affordable in retirement. Corporations will not choose to return those homes to the market.
We must stop corporate-owned housing purchases before it becomes a monopoly. If we keep rolling the dice, the game will end with one winner owning all the homes.
What will we tell our grandchildren when they ask questions about home ownership?
We must not accept the tradeoff of a couple of percent growth in investment to equal the elimination of the American dream.
· Personally, I want to contact every politician in my life and ask them if they understand the consequences of the unbridled consumption of homes by giant corporate investors.
· I want to know if my retirement fund is investing in this pyramid scheme.
· I want to Email Warren Buffet and ask his opinion of a corporate-owned society.
· I want everyone who reads this to comment, relaying your opinion.