Jeff Bezos-Backed Real Estate Company Launched A New Fund To Acquire More Single-Family Homes Across The U.S.
finance.yahoo.com
Many of the world’s largest investment firms have launched new funds over the past couple of years aimed at acquiring or building single-family homes to use as rentals. This comes as no surprise considering that the increased cost of buying a home has forced many Americans into being tenants instead of homeowners. Arrived, a young real estate company backed by Amazon.com Inc. founder Jeff Bezos, recently announced its entry into the single-family rental fund space. Arrived currently operates a f
  • Wrench@lemmy.world
    2·
    2 years ago

    Can we finally focus on real estate reform now?

    This latest housing crisis has made it abundantly clear that allowing wealthy individuals and corporations to own single family homes is destructive to society as a whole.

    The priority should be owner occupied homes. People need housing security. If even the middle class with career jobs can’t afford a modest house in their peak working years, the system is broken.

    We can attack this runaway housing inflation by doing the following:

    1. Ban companies (including hedge funds, etc) from owning condos and houses. Apartment complexes are still fair game, because society needs high occupancy buildings which require more capital to build and run.

    2. Limit individual ownership to 3 (as an example, number doesn’t matter) dwellings. This will curb the rampant “buy for short term rental, parlay into next purchase for short term rental” scheme. We still need rental properties, and small local landowners should be the priority.

    3. Heavy penalties for selling in under 2 (as an example) years. This will also curb the short term rentals due to added risk, as well as curbing the flippers relisting at 30%+ (and I’ve seen 100%) markups after 3 months.

    Each of these wouldn’t be outright bans which would potentially too big of a disruption. But in phases, using increasing tax penalties as the stick.

    We need to stop treating homes as a commodity. They are a basic essential.

  • Modva@lemmy.world
    2·
    2 years ago

    It will not stop. The government won’t step in, because they are all in on it. Their money comes first, above all else. The way they treat me homeless people today is how you will be treated tomorrow.

    There is only one way to stop the runaway cancer of greed, and it’s not by writing angry notes.

  • Marin_Rider@aussie.zone
    1·
    2 years ago

    residential property should not be able to be bought by corporations, there is no benefit in allowing that to happen at all

  • Hoomod@lemmy.world
    1·
    2 years ago

    You’re not rich if you own a home. You’re rich when you own everybody else’s home

  • Rottcodd@lemmy.world
    1·
    2 years ago

    Bezos isn’t going to miss a chance to dick people over. Because apparently he’s not rich enough yet.

    Imagine what the world would be like if we treated sociopathy as the vividly destructive mental illness it so obviously is, rather than rewarding sociopaths with wealth and power.