Banks, private equity, and hedgefunds are buying all the houses its not just the baby boomers.
Property is a great hedge against the us dollar!
Baby boomers got nothing on BlackRock
Outta curiosity… who do you think invests/runs black rock?
I dunno, but I’m guessing not a millennial.
Betsy Devos’s Brother is the founder of Blackrock.
Betsy Devos was secretary of education. And she was intentionally dismantling public education to further the interests of her brothers empire.
Edit: past tense. Former.
No, her brother is the founder of blackwater the private military company.
BlackRock was founded by Robert S Kapito and Larry Fink. Betsy DeVos’s brother Erik Prince founded Blackwater, the private military contractor.
Betsy DeVos is terrible, but was NOT colluding with BlackTock to dismantle American education. She was dismantling public education because she had her hands in the pockets of the charter schools
Checkmate okok you right
And overseas investors. A lot of U.S. real estate is owned by Chinese people and companies.
Hedgefundaganda from sfgate. Classic playbook from the rich, pitting people against each other to deflect blame.
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This is how you get younger generations hoping an entire generation just dies already.
I’ve been that way for awhile.
Society doesn’t really change until older generations die. They’re incapable of admitting when they’re wrong, so it’s up to nature to take them out of the discussion.
I thank god death is built-in to life for this reason.
It’s even worse with boomers, too. The most entitled generation to plunder this planet. They’ll die out right as the consequences for their greed starts to affect us all.
My mom is pre-boomer and we’re Gen-X. We have a house (bought in 2008 when you could still get a low rate fixed APR mortgage), but it’s a small house four three people in a town where we don’t want to live. We will have to wait until she dies and we inherit her money and sell her house before we can move. I hate that I have to wait for my mother to die to live a better life.
It’s not the baby boomers. It’s the fascists and it will get a LOT worse as they are buying up areas least affected by climate change. As land value increases even baby boomers will lose their land because they can’t afford the real estate taxes and costs of living in prime areas. Ultimately, only the rich will enjoy owning property.
