Government reluctance to regulate Wall Street is causing a crisis in housing. Investors are given free-reign over the housing market, which is affecting home ownership and apartment rentals and cost. The ability for families to live indoors is no longer considered a basic need being fulfilled, but a game of making money and taking advantage of working people.
Large companies such as Blackstone, a top real estate investor, is expanding their reach into rental housing by gobbling up AIR Communities, an apartment rental firm under a deal “for $10 billion in cash, including debt.” They are even expanding into Canada with this scam.
“The company, whose real estate portfolio is valued at $586 billion, had in January agreed to take Canadian single-family rental housing firm Tricon Residential.” It is not enough to screw the United States working families, they have to cross the border in their greed and fleece another country.
No one can complain about their economic situation and blame the president, or any president, when Wall Street is out of control. The last time they went rouge is when the 2008 housing market crashed, yet they have not learned a lesson from that. Nor have the voters, who continue to vote for politicians that advocate for the wealthy class.
It may take a few more decades for people to realize that they have been taken advantage of by wealthy crooks and not the federal government. Although, individual politicians have a hand in the scam by pandering to rich investors. More homelessness happening to misinformed voters may have to happen before real change.
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