Avast ye scurvy elites! They be longin' to make ye a landlubber with nothin' to call yer own!
2023-07-21
Fer over a century, possessin' a humble abode hath been a symbol o' the American Dream. 'Tis also been a treasured treasure fer millions. But these scurvy global financial elites be turnin' the tide, arrr!
In this humorous op-ed, the author highlights the growing trend of big financial companies and corporations buying single-family homes and renting them back to middle and working-class Americans. The author argues that this practice is eroding the American Dream of homeownership and creating a wealth gap. They note that owning a home has long been seen as a symbol of the American Dream and a key asset for wealth creation. However, the elite are now hoarding assets and renting them back to individuals, effectively preventing them from owning anything and giving up their opportunities for wealth creation. The author points out that housing affordability has reached historic lows, not only in the United States but also in other countries like the UK and the Netherlands. They criticize the financial, business, and political elite for overseeing an epic transfer of wealth from Main Street to the already wealthy and well-connected, especially during the Great Recession, where individuals lost their homes while financial institutions received bailouts. The author also highlights the rise of institutional investors in the housing market, with corporations buying tens of thousands of single-family properties and driving up prices. They argue that this practice, enabled by government and Fed policies, is hurting the middle and working class and shrinking their hopes of owning a home and achieving the American Dream. The author concludes by warning that if individuals end up owning nothing and the elite own everything, they will effectively own the people themselves.