how is this the government fault? Its a free country and someone sold them these homes and it wasnt the government. Now, if you want to force them to sell, then dont lease any homes from them and eventually they will have to foreclose on them. But I guess you believe you have to lease a home from them.
the middle class are the ones selling the houses to corporations. They are doing just fine and made a substantial profit. Its the people who rent, typically poor folk who are getting squeezed.
None of your business. Companies also RIGHTS to invest in residential Real Estate. Why don't you regulate your own rights first before insults others smfh
@@ShawnSmith-ss5otCompanies do not vote and do not need single family homes. Voters do. One of the most basic roles of any government is to enable people to have an 'advanced' society. In order to do that people need places to live and raise families. When we allow those places to become investment vehicles we trade a prosperous society for short term gains. So as voters yes it is very much our business, it is our city/town and state not some companies. We the people are the voters, we the people elect our representatives and we the people make the laws.
To the guy who said "If you need a new roof you call em and they take care of it." Ive rented from these companies in the past, youre in for a rude awakening when the time comes champ.
There's been talk about either taxing those companies that own a certain amount of homes extra until they sell or capping their ability to buy at a certain amount. But the second one they can get around by simply starting a new company and making the purchases through it instead of the first one!
This has been going on for a while , this should not be allowed, I'm in the construction business and we sold a home to a company that owns 58,000 residential homes.
your boss or the seller is partially to blame. people like this just love making a quick buck without considering the consequences of what they're doing.
imagine a county without them where there is no investment. The govt is usually incompetent. Go to any public housing and see what i am talking about. No one wants to live there.
what about all the people who are selling homes, are you going to limit who they can sell to? Imagine if the government told you that you have to take a significant financial loss to benefit poor people. Now someone owns your house on the cheap and you have gone bankrupt because people want cheap housing. Your kids miss out on generational wealth.
@@TheDukens90 Don't be a ignoramus, the idea is to work, work your ( , ) 0ff, rent and never own a home. As Klausy old boy has said " You own nothing, rent and be happy"
Modern day serfdom. You don't own the home or land, you just work your entire life and own nothing to pass on to your kids. Once you are unable to work and pay the rent, you are forced out.
Just like the black dood dont want any responsibility having the company fix the house literally owning nothing and being happy in the process. Finesseing the poor to pay off a whole neighborhood is a norm now :/
I’ll vote for anyone who gets rid of this. Corporations should NOT own single family homes. Housing and inflation are two key issues for me. It’s not hard
Be on the look out for anti-WEF candidates then Pam because this is all part of their so called great reset which aims to have us own nothing and be happy about it by 2030.
This should never be allowed!! Shame on city/town officials!! Home sales should only be to individuals, families, legal citizens/residents!! Never to corporations! Create & sign a petition for this for next referendum!!
They get a few thousand bucks from lobbyists and yeah, corporations run the world. I can't believe how easy it is to be a sell out. Politicians are the worst.
@@AmberSeti I was being sarcastic, but yeah it depends on your lifestyle or where you are in your life. It’s nice to be able to make a place home without worrying about repairs
Stephan Schwarzman owns blackstone group. Blackstone group used to be partnered with blackrock, but they split due to differences in how their business should be ran. It looks like it’s an investment/merger/acquisition/real estate company. I don’t know but it kind of sounds like a bunch of various money making slicks. This guys is worth like 48 billion. I’d say he needs more money for sure, and ATL real estate monopoly is the way to go apparently.
@@b_uppy are you talking about the Lehman brothers connection? I don’t know, you asked the question and I was curious bc I live in GA. There’s a lot of info out there and I don’t know your source of info. All I could fine on their parent company is, “Blackstone is owned by Blackstone, and its EU parent financial holding company is Blackstone / GSO Debt Funds Europe (Luxembourg)” The structural breakdown of ownership is The ownership structure of Blackstone Group (BX) stock is a mix of institutional, retail and individual investors. Approximately 64.25% of the company’s stock is owned by Institutional Investors, 12.74% is owned by Insiders and 23.01% is owned by Public Companies and Individual Investors.
I agree, my husband and I get endless texts, letters & calls from realtors harassing us to sell our home. We are in our 60’s and it isn’t to our benefit to sell our home or move when we retire. There is low housing inventory in New York & other states. Why should I pay more for another piece of a house ? I also don’t want a condo to downsize to & deal with HOAs, attached walls & less parking and stringent rules. It’s a shame that these greedy corporations are buying so many homes to make a profit off of renting, instead of selling these homes to prospective buyers! There are hundreds of corporations from foreign countries, such as China also buying these homes! Watch out America!
@@vetgirl71 I am getting offers at least every other week for some timberland property I own (ancestral land) from various companies I never heard of and from out of state. Just a few years ago there was no interest like that whatsoever. The land is high ground overlooking a huge electrical generating plant, one of the largest in the country, exactly a mile away. I really believe it is Chinese money looking for a good place to monitor the plant, or maybe sabatoge it in the future.
@@02nupe -- Yeah, it's nationwide, but the corruption in Atlanta and Georgia is just a smidgen higher than most of the nation. Kemp and Fulton County. Tumors of corruption.
Yup, I am a realtor in the Atlanta market and half of those rental homes have squatters living in them. The companies don't come out and check on nothing and the houses slowly start to dilapidate.
@@mytravls Yea, I know. I always talk about the unaffordability level, especially in Atlanta, because the average citizen down in the metro area is not making enough to afford these prices. Hopefully, something will change. But, now all I can tell people is if you have a goal of one day buying a house. Just slowly work towards getting everything together so when the time comes you can one day accomplish your goal of homeownership. Especially, since the government is barely stepping in to help people.
@@Clarktherealtor this is happening because the real estate market is out performing the stock market. When the stock market starts out performing real estate as it does most of the time the shenanigans will end. Remember that live by it educate others on it because it's the truth. Investors got to put their money in the best possible place and right now that's real estate but it will change.
@@mw4507 we hope not. But there has definitely been an uptick of squatters in these Corp homes. They never come out and check on them, so people are just squatting in them.
I bet the people who sold their homes to the corporations are pretty happy with the deal. They made out just fine. My homes value increased by like 100k in the past 2 years.
If not for stuff like this there wouldn't be very many homes these companies build new homes and rehab old ones if you end that you will have to build or rehab your own home and we all know you're not going to do that. You'll probably end up demanding the government do it for you.
This is absolutely horrible. Greed is running this country into the ground. I completely understand why so many want to leave. The US government couldn’t care less about the citizens. As long as corporations are happy and pockets lined they don’t care how US citizens are living.
Exactly. This is why so many people want remote work so bad that they are willing to take a pay cut. They know they can live on a 30k salary overseas comfortably.
You are so right. Just compare healthcare in the US and healthcare in Europe. If the quality of life for citizens is important for any country, then the government does its best to ensure that there is a basic quality of life. For instance, internet service, cable tv, and a home phone cost between €18 and €35 in France. That price is for all three services.
I love how the "news" has finally caught up or have been allowed to report on this topic of the real estate market monopoly. When regular citizens were saying this they were told to shut up or that it was "supply and demand" 🙄
Oh yeah, supply and demand. 😂 The classic excuse for greed. They can't use that as an excuse anymore, when they literally have enough money to affect the supply themselves. They're basically cheating, hoarding tons of houses in order to drive prices up. So damn dirty in my opinion.
If you knew anything about real estate and property, obviously you don't, even after you pay your house off its still not your, if you get behind on yearly taxes, you can loose your home also
@@GenX7119Yet another problem. Property tax on residential property should be unconstitutional. Property tax was originally only supposed to affect properties that produce profit. But the Supreme Court twisted the words so they could tax everyones property
@@GenX7119but at least you are not throwing your money away as a homeowner to a landlord ! 🙄 If you own a home you gain equity and have more leverage to buy another home/condo down the road especially when you retire. Plus when you do taxes you get tax breaks from the interest paid on the property. If by retirement you opt to sell your home after you paid off the mortgage you get a windfall of money from your investment. But if you leave a rental, you don’t have the same benefits. Yes, we pay taxes but that’s the American way! No comparison to paying rent to a landlord and throwing your money away in the toilet! At least with this current situation mentioned of corporations buying homes and renting it creates bidding wars for homeowners when they sell and they can get paid over their selling price! 🙄
They are destroying the idea of owning a house in your lifetime. And they will hold steady with their outrageous pricing, too. Unless we build more houses that aren't corporate owned, this should not be a practice.
Who was the fool they interviewed saying if u need a new roof call the rental company. Yeah rental companies always rush to fix broken things in houses. Bs.
What this means is that the corporations can borrow money cheaper than residential home buyers. Same problem with corporate farms versus the family farms.
And they can often buy all cash, which allows them to swoop in as soon as a property is listed and lock in the sale before someone who needs a mortgage to purchase. I’m in an area with few rentals and that keeps the rents reasonable and the neighborhood nice.
And if speak with reps from Invitation Homes, they will explain.. they want you all to live as college students.. pay per room to met the high cost of rent. 3 individual person, at adult ages, are not living together.. this must be STOPPED!
I worked at Progress Residential... They told us not to notate accounts because when they get sued the court can subpoena the account notes. That's just one.... I was shocked how shady they were so I quit after 8 months.
@@faerydae29 Sadly I doubt it will happen anytime soon... Progress's parent company (pretium) just acquired BH as well this week. They are getting bigger and bigger and with BH, they just tapped into Multi-family and STUDENT housing! ridiculous
When I was at Ashton Woods yall bought ALOT of homes from us. We had one community where we presold all the homes at a locked in price before even building them. What was annoying is that the property manager would talk to me as if I worked for Progress or owed here explanations.
Thank you for shining a light on this issue. I worked for one of those companies and realized my values did not align with what I was being asked to do so I left. People need to be educated that when they sell their home to an institutional investor it does not help the neighbors who they leave behind. Their quick all cash offers make sellers greedy but makes neighborhoods worse and does not allow the next person to buy a starter home in a decent neighborhood. Also, there are whole Built For Rent (BFR) communities sprouting up all over the country. These companies magnanimously think they are doing 'poor' people a favor but all they are doing is driving up rents and making home ownership unaffordable for everyone.
The bigger problem is that the corporations own the city council. If rent prices are high, then surely the city council would approve new construction, but they won't, because that would bring down rent prices, and the corps don't want that to happen. All problems with housing stem from one source, the government.
I sold 3 homes last year and made sure I sold to 1st time homebuyers. The process takes longer but you feel amazing helping someone change thier family legacy. The corporations can’t buy anything if YOU don’t sell it to them. You’ll complain now but if you were an owner ready to sell your home you’d take the cash from the big corporations vs being patient with a 1st time homebuyer. People complain but deep down don’t care enough to sell to a 1st time homebuyer.
But karma is a B. What goes around comes around. Those same sellers will themrselves be affected by these monopolies when they or their kids try to purchase a home in the future.
Bravo to you! When I purchased my first home, I was a young, 20-something, single woman trying to make my way in a big city. The home seller chose to sell to me instead of taking higher offers. I was so grateful. When I sold it, I also sold to a young 20ish, single woman. We all have to look out for each other.
Lol someone comes to you with a pile of cash and you do what, laugh at them and say "I am not willing to sell to you, you evil corporation, I would rather sell to Joe Blow for 20% less"?
Most of the homes and communities were what the video stated build to rent. Developers built the neighborhoods and sold the entire neighborhood as a portfolio to the corporations.
Not necessarily. There are thousands of wholesalers/real estate investors. Most people deal with the middle man and never with the end buyer. Plus people financially desperate (or wanting to benefit from the real estate boom of 2020-2022) sold to get the money without the bigger picture.
@@lewisstretchThey weren’t all build to rent. I spent 2yrs being outbid by these corporations on pre-owned homes. Hard to compete with companies offering $50k and above over the asking price combined with first class tickets to the caribbean islands. They offered wild incentives and what seller’s gonna turn that down.
Thanks for exposing this. This has slowly been happening and definitely needs to be addressed by our lawmakers to help protect the average Americans dream!
That's why the prices have gone up so much. They don't worry about interest rates, they pay cash and can hold thru any crisis. They won't lose their jobs or worry about insurance. That's why they have to be restricted from buy homes
And yest big real estate investors like Trump who owns several communities such as the above mentioned seem to keep getting votes from people who don't seem to want to allow this exact thing
It's every major city that's like this now, all the businesses are in leases from giant companies too who raise lease prices in 30 day periods without further notice. They build subdivisions, strip malls, buy out land, parking lots, etc. The government took away farmland. We're all being pushed into the poorhouse.
Apparently Lamar doesn’t understand how this works. You have renters, they don’t own there own home and you have buyers. These investors are able to make people like Lamar pay their mortgage.
He also thinks they will give him a new roof. I don’t see these corporations giving a damn about the condition of the homes. They will be poorly maintained to maximize profits.
@@samanthaparker836 exactly and if an expensive repair is needed they may just elect to not renew the lease and you are forced to move. It’s not like they are giving rent to own options.
"You need a new roof, you call them. Hey I need a new roof." Yeah, we'll see how well that works out for you. If you know landlords, you know they normally don't ever fix anything until they absolutely have to.
This is going to create a huge problem for the economy if something isn’t done about this. As more and more of our incomes go to housing, that is less that can be spent elsewhere. This is going to increase the gap between rich and poor even more because homeownership is many of Americans biggest investment.
Capitalism's magic of the marketplace. Straight out of University of Chigo Business School and pushed by Reagan and the conservatives. Can't blame this on WOKE and DEI
@614pLIBRA "Woke" social politics is how we got here. Both parties only talk about social/cultural issues and don't talk enough about economic policy to protect the working class.
@@jer1776 Both parties only talk about social/cultural issues only now is because after the the anti union pro business/oligarchy Reagan and Reagan Democrats' and GW Bush had installed they have won and only need to distract with social issues and fake blame game "hey look it's the Woke/Blacks/Trans running everything" 🙄
From an economics perspective, this is actually incredibly disruptive to the natural law of supply and demand in the housing market and preventing prices from going down like they should.
Back in the day you had to live in the home that you bought in Atlanta. It used to be they didn’t build on less than 1 acre. Somebody pockets are getting filled. This is a government issue. I hope I’m safe after making this statement.😅
Man the day of 1/2 acre lots are gone. In 2000 you could get a 1/2 home in an upscale area for like 250-350K, and an entry level places 150-170K new construction. Now you can't even build a home under $200K
🚩🚩🚩 SAME HAPPENED HERE IN LOS ANGELES ‼️ During covid 76% of the house's for sale were purchased by Chinese investor groups for CASH!!! Not just that they would over bid by $25,000-$75,000 over the asking price. It happened in Inglewood also. Sooooo unfair. Heart breaking even.
The rich corporations play both sides to their win. The right - Capitalism! no regulations! let business do what they want! The left - For the environment, we need exactly what landlords love. No garages juts bike racks, no yards to maintain, no grass to water, and corporate ownership of high density apartments instead of owner-occupied houses!
@comp.eng.student2055 Yet here we are and you know what we are going to do about it? Comment on this website and the fuckery will continue, but yeah I agree with you 100%.
If you didn't have restrictive zoning limiting the construction of new homes, especially multi-family homes, the asset would not appreciate because of the restricted supply. Its a bubble being supported by NIMBYs who refuse to allow new homes to be constructed.
If they don't stop this.. We are all screwed... it will be harder to get those homes back than to not allow corporations to buy them in the first place... Or you will own nothing and like it.
Control, Control, Control The government needs to slapped with the biggest lawsuit. This is the rich companies staying rich by unfair monopolization practices.
Buying entire subdivisions that is horrible. You will rent and you will love it. They can jack up your rent anytime they want to. You complain they tell you to get out someone else will pay it and love it . Straight b.s...
Shame on local governments for allowing this.
Blame federal too and both political parties
@@toxicblackman Blame the Federal Reserve and US Treasury
how is this the government fault? Its a free country and someone sold them these homes and it wasnt the government. Now, if you want to force them to sell, then dont lease any homes from them and eventually they will have to foreclose on them. But I guess you believe you have to lease a home from them.
These Corporations have to sell more than half of these homes to first-time buyers
@@safeandeffectivelol might as well blame yo mama too. btw she so fat......
Food, Water and SHELTER should never be a struggle to aquire in this country.
Not according to the WEF who wants to cram everyone in 15 minutes cities
Wiping out the middle class ownership.
the middle class are the ones selling the houses to corporations. They are doing just fine and made a substantial profit. Its the people who rent, typically poor folk who are getting squeezed.
Heading back to how it was in medieval times when the aristocracy owned all of the land and the peasants had to pay rent to live on their land.
yeah but we are constantly building more homes.
@@francismarion6400 alot of these companies are going to go bust and liquidate their stock of houses. That will be the time to buy.
You gotta be an upper middle class to be a homeowner at least anyway 🤷♂️ government bank and corporations need forever renters, NOT homeowners.
This should never have been allowed in the first place. We lost out on 4 homes due to these corporations, and three of them are still sitting empty.
Allowed? It is being incentivized by lending policies at the federal level.
Companies should not be allowed to own single family homes.
Depends on what the home is used for. Recovery houses, for example, do not need to be sole proprietor - thats where corporations are good.
None of your business. Companies also RIGHTS to invest in residential Real Estate. Why don't you regulate your own rights first before insults others smfh
@@ShawnSmith-ss5otCompanies do not vote and do not need single family homes. Voters do. One of the most basic roles of any government is to enable people to have an 'advanced' society. In order to do that people need places to live and raise families. When we allow those places to become investment vehicles we trade a prosperous society for short term gains.
So as voters yes it is very much our business, it is our city/town and state not some companies. We the people are the voters, we the people elect our representatives and we the people make the laws.
@@ShawnSmith-ss5otYou people who defend corporations are disgusting and immoral.
@cy9141 Are you a homeless? Communist bot? Smfh
Progress, Mainstreet, Invitation is actually
Blackrock, Vanguard, State Street
If there were ever an appropriate place for squatters, the corporation-owned ones would be it.
😂😂😂 very good point!
Yup.
THERE IS NOT AN APPROPRIATE PLACE FOR SQUATTERS
Yes!!
@@otherworld11 in the homes of CEOs!!
To the guy who said "If you need a new roof you call em and they take care of it."
Ive rented from these companies in the past, youre in for a rude awakening when the time comes champ.
That’s absolutely fucked. This needs legislation, FAST.
There's been talk about either taxing those companies that own a certain amount of homes extra until they sell or capping their ability to buy at a certain amount. But the second one they can get around by simply starting a new company and making the purchases through it instead of the first one!
@@giveme10feet yes but they'll just raise the rent to pay for it
@@janiemaebeautyBINGO
First Phoenix, now Atlanta.
Democrats are willing to do it but you know the Republicans ain’t going to do a thing about this
This has been going on for a while , this should not be allowed, I'm in the construction business and we sold a home to a company that owns 58,000 residential homes.
your boss or the seller is partially to blame. people like this just love making a quick buck without considering the consequences of what they're doing.
Sickening……the corporate greed will lead this country into a downward spiral.
It already has.
You are Here.
imagine a county without them where there is no investment. The govt is usually incompetent. Go to any public housing and see what i am talking about. No one wants to live there.
Will lead? We are already there.
Past tense
This should not even be allowed. Nationwide is a problem.
Shut it down. Shut it ALL down.
@@ba_tradesBasically
They won’t. In the name of prop taxes the government has colluded.
@@ba_trades the corporations own us. just get over it. then eat them when they aren't looking.
Too late…They (Black Rock) have already bought off politicians at each level of government 😭
what about all the people who are selling homes, are you going to limit who they can sell to? Imagine if the government told you that you have to take a significant financial loss to benefit poor people. Now someone owns your house on the cheap and you have gone bankrupt because people want cheap housing. Your kids miss out on generational wealth.
"You will own nothing and be happy". Why is anyone shocked?
"You'll be happy or else!"
“You will own nothing and will be happy” quote is making more sense now.
Don't work
Be homeless
@@TheDukens90 Don't be a ignoramus, the idea is to work, work your ( , ) 0ff, rent and never own a home. As Klausy old boy has said " You own nothing, rent and be happy"
Exactly
Modern day serfdom. You don't own the home or land, you just work your entire life and own nothing to pass on to your kids. Once you are unable to work and pay the rent, you are forced out.
Just like the black dood dont want any responsibility having the company fix the house literally owning nothing and being happy in the process. Finesseing the poor to pay off a whole neighborhood is a norm now :/
Why aren’t our council members, mayors, governors, and senators fighting this ?!?!?
Tax Revenue and construction jobs and material
Cause they are getting paid
Because these corporations and lobbyist are funding their reelection campaigns.
I’ll vote for anyone who gets rid of this. Corporations should NOT own single family homes.
Housing and inflation are two key issues for me. It’s not hard
Looks like you aren’t voting 😂
I wish we could get enough politicians behind stopping those greedy corporations too.
Be on the look out for anti-WEF candidates then Pam because this is all part of their so called great reset which aims to have us own nothing and be happy about it by 2030.
Senators getting rental money doesn't go against their income cap.
They won't vote against their own interests.
RFK jr is the only one speaking about this. its not on either the republicants or the democraps radar.
This should never be allowed!! Shame on city/town officials!! Home sales should only be to individuals, families, legal citizens/residents!! Never to corporations! Create & sign a petition for this for next referendum!!
This is what happens when you don't regulate corporations, thank your government
They get a few thousand bucks from lobbyists and yeah, corporations run the world. I can't believe how easy it is to be a sell out. Politicians are the worst.
There was after the 2005-2007 housing burst and 2008 in the President put in regulations. In 2017 these and other regulations were removed.
Thank you Republicans you mean
@@xadam2dudex No, no. Don't think for a second this is one sided. Both parties contribute to this.
@@janetpelletier1238 false equivalency ..
If you think the cable companies have a monopoly, just wait until companies like these get done with us.
How much is that guy being paid to speak highly of the greedy corporations?
He probably a maintenance worker with reduce rent
@@AmberSetiyeah that 5% discount really goes far…
@@SeñorMalc. Yup especially in this economy. Some people never want to be home owners
@@AmberSeti I was being sarcastic, but yeah it depends on your lifestyle or where you are in your life. It’s nice to be able to make a place home without worrying about repairs
@@SeñorMalc I know you was being sarcastic 😂
The bigger question is who's the parent company(s)? That the interesting bit.
Stephan Schwarzman owns blackstone group. Blackstone group used to be partnered with blackrock, but they split due to differences in how their business should be ran.
It looks like it’s an investment/merger/acquisition/real estate company. I don’t know but it kind of sounds like a bunch of various money making slicks. This guys is worth like 48 billion. I’d say he needs more money for sure, and ATL real estate monopoly is the way to go apparently.
@megan9825
And again who are they currently coupled with?
@@b_uppy are you talking about the Lehman brothers connection? I don’t know, you asked the question and I was curious bc I live in GA. There’s a lot of info out there and I don’t know your source of info.
All I could fine on their parent company is, “Blackstone is owned by Blackstone, and its EU parent financial holding company is Blackstone / GSO Debt Funds Europe (Luxembourg)”
The structural breakdown of ownership is The ownership structure of Blackstone Group (BX) stock is a mix of institutional, retail and individual investors. Approximately 64.25% of the company’s stock is owned by Institutional Investors, 12.74% is owned by Insiders and 23.01% is owned by Public Companies and Individual Investors.
This is why I refuse to sell to these greedy bastards no matter how much they harass.
I agree, my husband and I get endless texts, letters & calls from realtors harassing us to sell our home. We are in our 60’s and it isn’t to our benefit to sell our home or move when we retire. There is low housing inventory in New York & other states. Why should I pay more for another piece of a house ? I also don’t want a condo to downsize to & deal with HOAs, attached walls & less parking and stringent rules. It’s a shame that these greedy corporations are buying so many homes to make a profit off of renting, instead of selling these homes to prospective buyers! There are hundreds of corporations from foreign countries, such as China also buying these homes! Watch out America!
@@vetgirl71 I am getting offers at least every other week for some timberland property I own (ancestral land) from various companies I never heard of and from out of state. Just a few years ago there was no interest like that whatsoever. The land is high ground overlooking a huge electrical generating plant, one of the largest in the country, exactly a mile away. I really believe it is Chinese money looking for a good place to monitor the plant, or maybe sabatoge it in the future.
O'm going to sell to the highest bidder, so will most of the USA. You are a fool if you don't!
@@troyb.4101 Who are you calling a fool?
@@freespirit1975 Any one that does not take top dollar for their properties, if all other terms are the same.
Not surprised. Atlanta will sell everything including it’s soul for a dollar.
That has NOTHING to do with Atlanta. Its the same all over the country.
@@pincfxexactly. This is nation wide
@@02nupe -- Yeah, it's nationwide, but the corruption in Atlanta and Georgia is just a smidgen higher than most of the nation. Kemp and Fulton County. Tumors of corruption.
Yup, I am a realtor in the Atlanta market and half of those rental homes have squatters living in them. The companies don't come out and check on nothing and the houses slowly start to dilapidate.
But these home prices won’t ever go down.
@@mytravls Yea, I know. I always talk about the unaffordability level, especially in Atlanta, because the average citizen down in the metro area is not making enough to afford these prices. Hopefully, something will change. But, now all I can tell people is if you have a goal of one day buying a house. Just slowly work towards getting everything together so when the time comes you can one day accomplish your goal of homeownership. Especially, since the government is barely stepping in to help people.
@@Clarktherealtor this is happening because the real estate market is out performing the stock market. When the stock market starts out performing real estate as it does most of the time the shenanigans will end. Remember that live by it educate others on it because it's the truth. Investors got to put their money in the best possible place and right now that's real estate but it will change.
If thats the case, atlanta will be the new Detroit.
@@mw4507 we hope not. But there has definitely been an uptick of squatters in these Corp homes. They never come out and check on them, so people are just squatting in them.
“You will OWN NOTHING….and eat ze bugs”!!! 😂😂😂
This is not okay
Yes it is move to China if you dont like it. These homes wouldn't even exist if not for this free market.
I bet the people who sold their homes to the corporations are pretty happy with the deal. They made out just fine. My homes value increased by like 100k in the past 2 years.
blks rather buy jordans than to buy houses
If not for stuff like this there wouldn't be very many homes these companies build new homes and rehab old ones if you end that you will have to build or rehab your own home and we all know you're not going to do that. You'll probably end up demanding the government do it for you.
This needs to stop, it’s not a market it’s a CARTEL.
This is absolutely horrible. Greed is running this country into the ground. I completely understand why so many want to leave. The US government couldn’t care less about the citizens. As long as corporations are happy and pockets lined they don’t care how US citizens are living.
Neither Party cares!
Exactly. This is why so many people want remote work so bad that they are willing to take a pay cut. They know they can live on a 30k salary overseas comfortably.
exactly we need serious change in this country. covid ruined everything. greed is at it’s all time peak and the world has never been more evil.
Greed has been ruining the US since the 80’s. Ronnie Reagan told us that Greed is Good.
You are so right. Just compare healthcare in the US and healthcare in Europe. If the quality of life for citizens is important for any country, then the government does its best to ensure that there is a basic quality of life. For instance, internet service, cable tv, and a home phone cost between €18 and €35 in France. That price is for all three services.
There's some serious lack of regulating here.
I love how the "news" has finally caught up or have been allowed to report on this topic of the real estate market monopoly.
When regular citizens were saying this they were told to shut up or that it was "supply and demand" 🙄
Oh yeah, supply and demand. 😂 The classic excuse for greed. They can't use that as an excuse anymore, when they literally have enough money to affect the supply themselves. They're basically cheating, hoarding tons of houses in order to drive prices up. So damn dirty in my opinion.
Right! It was Shut up and vote democrat😒
I can bet that this is happening all across America.
It's like renting a car, it's never yours and you will be paying for all your life. Also, they can kick you out once the lease is over.
If you knew anything about real estate and property, obviously you don't, even after you pay your house off its still not your, if you get behind on yearly taxes, you can loose your home also
Missing the entire point
@@GenX7119 At least most property taxes don't jump up 200% like rent does.
@@GenX7119Yet another problem. Property tax on residential property should be unconstitutional. Property tax was originally only supposed to affect properties that produce profit. But the Supreme Court twisted the words so they could tax everyones property
@@GenX7119but at least you are not throwing your money away as a homeowner to a landlord ! 🙄 If you own a home you gain equity and have more leverage to buy another home/condo down the road especially when you retire. Plus when you do taxes you get tax breaks from the interest paid on the property. If by retirement you opt to sell your home after you paid off the mortgage you get a windfall of money from your investment. But if you leave a rental, you don’t have the same benefits. Yes, we pay taxes but that’s the American way! No comparison to paying rent to a landlord and throwing your money away in the toilet! At least with this current situation mentioned of corporations buying homes and renting it creates bidding wars for homeowners when they sell and they can get paid over their selling price! 🙄
Homes should be owned by individual people. Period.
Now please do a story on how these companies treat their tenants.
Corporations should not be able to do this. They are ruining it for people who want to own homes.
You will own nothing and be happy.
That’s the way it works in china 😂😂
Ppl over there don’t actually own there homes they pretty much rent their whole lives from the government
@comp.eng.student2055nice one!🔥
Exactly what's going on
Eat bugs and live in the pod!!
Owe nothing you'll be happy.
They are destroying the idea of owning a house in your lifetime. And they will hold steady with their outrageous pricing, too. Unless we build more houses that aren't corporate owned, this should not be a practice.
Some people still try and down play the severity of this too.
Usually those with a vested interest.
There's no excuse for that. Tax them out of existence.
Who was the fool they interviewed saying if u need a new roof call the rental company. Yeah rental companies always rush to fix broken things in houses. Bs.
They cut him off mid sentence too 😂
And it’s like a new house shouldn’t need a new roof 😂
Yeah it's like if have accident and call your insurance that you paid for years suddenly your insurance skyrocket or even dropped all together 😂
@@Bekssss I don’t get it. People don’t wanna own cause they are afraid of repairs but a well built house really isn’t that bad imo
This is all over America. Companies outside of America own these. It's turned the SFR market upside down since the early 2000s when it all 'began'🎉
What this means is that the corporations can borrow money cheaper than residential home buyers. Same problem with corporate farms versus the family farms.
they can. I read that they can borrow at like 1-2% interest.
And they can often buy all cash, which allows them to swoop in as soon as a property is listed and lock in the sale before someone who needs a mortgage to purchase. I’m in an area with few rentals and that keeps the rents reasonable and the neighborhood nice.
And they're horrible stealing application fees
If it takes this long for a news organization just to cover what has been happening for years. How long will it take to actually do anything about it?
And if speak with reps from Invitation Homes, they will explain.. they want you all to live as college students.. pay per room to met the high cost of rent. 3 individual person, at adult ages, are not living together.. this must be STOPPED!
I worked at Progress Residential... They told us not to notate accounts because when they get sued the court can subpoena the account notes. That's just one.... I was shocked how shady they were so I quit after 8 months.
Also guess who their investors are... Foreign investors from Saudi, Japan etc .....
That’s so horrible. You did the right thing. If only our congressman would stop them.
@@faerydae29 Sadly I doubt it will happen anytime soon... Progress's parent company (pretium) just acquired BH as well this week. They are getting bigger and bigger and with BH, they just tapped into Multi-family and STUDENT housing! ridiculous
When I was at Ashton Woods yall bought ALOT of homes from us. We had one community where we presold all the homes at a locked in price before even building them. What was annoying is that the property manager would talk to me as if I worked for Progress or owed here explanations.
You quit so soon because you have a soul bless you!
Imagine if all corporations owned all of the homes in the US. We would all be renters. Smh.
Thank you for shining a light on this issue. I worked for one of those companies and realized my values did not align with what I was being asked to do so I left. People need to be educated that when they sell their home to an institutional investor it does not help the neighbors who they leave behind. Their quick all cash offers make sellers greedy but makes neighborhoods worse and does not allow the next person to buy a starter home in a decent neighborhood. Also, there are whole Built For Rent (BFR) communities sprouting up all over the country. These companies magnanimously think they are doing 'poor' people a favor but all they are doing is driving up rents and making home ownership unaffordable for everyone.
Thank you for speaking up
The bigger problem is that the corporations own the city council. If rent prices are high, then surely the city council would approve new construction, but they won't, because that would bring down rent prices, and the corps don't want that to happen. All problems with housing stem from one source, the government.
I sold 3 homes last year and made sure I sold to 1st time homebuyers.
The process takes longer but you feel amazing helping someone change thier family legacy.
The corporations can’t buy anything if YOU don’t sell it to them. You’ll complain now but if you were an owner ready to sell your home
you’d take the cash from the big corporations vs being patient with a 1st time homebuyer. People complain but deep down don’t care enough to sell to a 1st time homebuyer.
THAT and corporations will offer more. Most won’t take asking price if they can get 10K over asking with 1/2closing costs and ZERO demands.
But karma is a B. What goes around comes around. Those same sellers will themrselves be affected by these monopolies when they or their kids try to purchase a home in the future.
Absolutely! Thanks for being part of the solution
God bless you. That's a really noble thing to do. Makes such a difference in a life.
Bravo to you! When I purchased my first home, I was a young, 20-something, single woman trying to make my way in a big city. The home seller chose to sell to me instead of taking higher offers. I was so grateful. When I sold it, I also sold to a young 20ish, single woman. We all have to look out for each other.
having 19000 fewer homes would drive prices even higher.
When people talk about inflation, remind them it’s price gouging.
When the market crashes, the corporations will come in and scoop them all up.
I still can’t believe that SO MANY homeowners were willing to sell to corporations 🤦🏾♀️🤦🏾♀️🤦🏾♀️. This was foreseeable.
Lol someone comes to you with a pile of cash and you do what, laugh at them and say "I am not willing to sell to you, you evil corporation, I would rather sell to Joe Blow for 20% less"?
Most of the homes and communities were what the video stated build to rent. Developers built the neighborhoods and sold the entire neighborhood as a portfolio to the corporations.
Not necessarily. There are thousands of wholesalers/real estate investors. Most people deal with the middle man and never with the end buyer. Plus people financially desperate (or wanting to benefit from the real estate boom of 2020-2022) sold to get the money without the bigger picture.
@@lewisstretchThey weren’t all build to rent. I spent 2yrs being outbid by these corporations on pre-owned homes. Hard to compete with companies offering $50k and above over the asking price combined with first class tickets to the caribbean islands. They offered wild incentives and what seller’s gonna turn that down.
@@blackdonte24 True. I've been getting outbid for the past 2 years. Three were over 60k over asking. I don't have that kind of money.
Shameful. Absolutely shameful.
This is why housing is so expensive
its also why rents are so high, and why property taxes are increasing.
This was never supposed to happen after the last 2008 housing crisis. This is rediculous.
Thanks for exposing this. This has slowly been happening and definitely needs to be addressed by our lawmakers to help protect the average Americans dream!
Yeah right don't hold your breath on that one
That's why the prices have gone up so much. They don't worry about interest rates, they pay cash and can hold thru any crisis. They won't lose their jobs or worry about insurance. That's why they have to be restricted from buy homes
And if it isn't companies doing this, it's landlords doing the same thing: flipping to rent out, or turn into an AirBnB.
And these rental companies are so evil and greedy. We the people shouldn't let this happen the next generation will soffer a lot
Government continues to allow this. It's disgusting!
And yest big real estate investors like Trump who owns several communities such as the above mentioned seem to keep getting votes from people who don't seem to want to allow this exact thing
Still haven't figured out that they have sold out have you? Why do you think the Chinese own thousands of acres in property on U.S. soil?
If you need a roof... Call a damn roofing company. SMDH.... Middle Class getting wiped the hell out..
It means the colonizers are still doing they thing
Exactly. The commupence is coming soon. They're trying to get into Africa, but that will soon be shut down.
you white blaming again?
@@DFergie722 get a job
What's stopping you? Perhaps you should have stayed in school instead of doing drugs and watching malcom x speeches.
@@DFergie722 Trying? Africa was almost entirely colonized by 1910. China is now coming for the rest.
It's every major city that's like this now, all the businesses are in leases from giant companies too who raise lease prices in 30 day periods without further notice. They build subdivisions, strip malls, buy out land, parking lots, etc. The government took away farmland. We're all being pushed into the poorhouse.
Apparently Lamar doesn’t understand how this works. You have renters, they don’t own there own home and you have buyers. These investors are able to make people like Lamar pay their mortgage.
He also thinks they will give him a new roof. I don’t see these corporations giving a damn about the condition of the homes. They will be poorly maintained to maximize profits.
@@samanthaparker836 exactly and if an expensive repair is needed they may just elect to not renew the lease and you are forced to move. It’s not like they are giving rent to own options.
You accrue NO equity in a rental/lease. You pay all the COST of the home someone else, the corporation reaps ALL the benefits.
Taxes! Taxes! TAXES! Housing should not be for profit. Humans need homes!
Exactly people basic needs should not be for profit (food, clothing, and shelter)
Yep, but the inhumane are calling the shots!
"You need a new roof, you call them. Hey I need a new roof." Yeah, we'll see how well that works out for you. If you know landlords, you know they normally don't ever fix anything until they absolutely have to.
This should not be allowed! Period!🙄😒😒
This has to stop. Real estate needs to have rules to how many each company can own. Ridiculous
why should your freedoms and rights stop
@@MxneyHacker it's driving up the market for no reason.... Are u an agent?..do u know anything about real estate?...like what r u talking about
@@Mina07310 you obviously aren't very educated
This is going to create a huge problem for the economy if something isn’t done about this. As more and more of our incomes go to housing, that is less that can be spent elsewhere. This is going to increase the gap between rich and poor even more because homeownership is many of Americans biggest investment.
Mission accomplished
Not sure how you expected a necessary reset of this country to happen, but looks like this is part of the process.
Yes… it’s killing us here in Clayton. County
Brother is seriously naive!
Slave mentality still exists
And it had to be a brother just bucking his eyes 😂!
That was the saddest part of the story, a sellout. Smh. Why did he even have to respond?!
They knew who to pick and show on tv
Brother was probably seriously compensated.
Corporate housing is why homes are so high
Too late. The damage is done.
Time to tax these corporations heavily
You need a new roof?!! Dude that 25 years down the road! 😅😂😮
LOL yeah I though that was hilarious.
That's why he isn't a homeowner! Just a renter who has NO CLUE
What are politicians DOING to stop this????
They would rather take donor money and protect them
Most of the homes that are on the market today are extremely over priced. Now you know why
degusting behavior by these companies.
How is this legal?! This country will allow just about anything
Capitalism's magic of the marketplace. Straight out of University of Chigo Business School and pushed by Reagan and the conservatives. Can't blame this on WOKE and DEI
@614pLIBRA "Woke" social politics is how we got here. Both parties only talk about social/cultural issues and don't talk enough about economic policy to protect the working class.
@@jer1776 Both parties only talk about social/cultural issues only now is because after the the anti union pro business/oligarchy Reagan and Reagan Democrats' and GW Bush had installed they have won and only need to distract with social issues and fake blame game "hey look it's the Woke/Blacks/Trans running everything" 🙄
Don't make the mistake of thinking everyone else has a single track mind. @@jer1776
@@jer1776says the tRUMP nutter
From an economics perspective, this is actually incredibly disruptive to the natural law of supply and demand in the housing market and preventing prices from going down like they should.
Back in the day you had to live in the home that you bought in Atlanta. It used to be they didn’t build on less than 1 acre. Somebody pockets are getting filled. This is a government issue. I hope I’m safe after making this statement.😅
Now you on the FEMA red list 😈👹😈
Man the day of 1/2 acre lots are gone. In 2000 you could get a 1/2 home in an upscale area for like 250-350K, and an entry level places 150-170K new construction. Now you can't even build a home under $200K
🚩🚩🚩 SAME HAPPENED HERE IN LOS ANGELES ‼️
During covid 76% of the house's for sale were purchased by Chinese investor groups for CASH!!! Not just that they would over bid by $25,000-$75,000 over the asking price. It happened in Inglewood also. Sooooo unfair. Heart breaking even.
Greed is the root of all evil
Big corporations take advantage because of people like the guy at the end, you'll replace the roof of your house maybe once in 30 years
I’m surprised society lets this stand
Capitalism.
@comp.eng.student2055 so not capitalism
The rich corporations play both sides to their win.
The right - Capitalism! no regulations! let business do what they want!
The left - For the environment, we need exactly what landlords love. No garages juts bike racks, no yards to maintain, no grass to water, and corporate ownership of high density apartments instead of owner-occupied houses!
@@aminy23 you can own a condo, single family houses can be owned by corporations.
@comp.eng.student2055 Yet here we are and you know what we are going to do about it? Comment on this website and the fuckery will continue, but yeah I agree with you 100%.
If you didn't have restrictive zoning limiting the construction of new homes, especially multi-family homes, the asset would not appreciate because of the restricted supply. Its a bubble being supported by NIMBYs who refuse to allow new homes to be constructed.
Just pass a law regarding non owner occupied houses. If they pay thousands in taxes on every house they will
Quit.
It’s that simple!👏🏾👏🏾
Local legislators are complicit and apart of the problem.
The world is going to go mad people are going to get sick and tired all of this price gouging kicking people out of their dream to homeownership.
The home is a sacred place
for investors
Unfortunately nothing is sacred anymore. It's all been destroyed and gutted
If they don't stop this.. We are all screwed... it will be harder to get those homes back than to not allow corporations to buy them in the first place... Or you will own nothing and like it.
Control, Control, Control The government needs to slapped with the biggest lawsuit. This is the rich companies staying rich by unfair monopolization practices.
People have tunnel vision when it comes to understanding not only the real estate market, but economics in general.
You can’t buy you can’t rent
Don't sell your homes to corporations & don't be enticed by their bigger offer. Greed goes both ways.
Buying entire subdivisions that is horrible. You will rent and you will love it. They can jack up your rent anytime they want to. You complain they tell you to get out someone else will pay it and love it . Straight b.s...
I have been saying this for years. I know 1 guy who owns over 80 houses. That's 80 house's that could be going to the citizens.