How Private Equity Firms Are Increasing U.S. Rent Prices
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- Опубликовано: 26 июл 2022
- Rental prices are increasing by more than 30% in major cities across the U.S. with the national monthly average for a one-bedroom costing $1,701. NBC News’ Zinhle Essamuah reports on how private equity firms play a major role in fueling the rise in housing costs nationwide.
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#Rent #Equity #housing
It should be illegal for private equity firms to buy up single family homes
If the American people united to vote against equity firms to buy homes it should pass united the people are stronger.
It's not.
@@AaronJ323 😆 🤣 😂 😹 😆
The American people don't get to vote.
@@AaronJ323 If the American people united, the media would invent a firestorm to drive people apart. It works. EVERY. TIME.
Some places are trying to make it illegal.
Private equity sounds like a mechanism that extracts the most amount of value from a business, and transfers that wealth to the few general partners.
Everyone loses - the business, the employees, the local consumers, the tax payers.... except for the general partners
The people you’re claiming don’t benefit wouldn’t have benefited with or without the private equity buyout. The business was failing before private equity came in, they just more efficiently manage the end of the companies life. Most likely allowing most companies to work there longer than they would have been able to do before.
This should be illegal, and the people responsible should be treated as criminals. Raising rent on top of inflation is just devious.
u know why its not right??? $$$$
Did,! got two or three in jail back in 2008 ,but they were the small fish..
Feudalism all over again
@@williamlyons3947 What about those who aren't?
This is a major, important story. It needs much more news coverage.
#FACTS
Private-equity firms also control the media - so you know how that goes…
“Whoever controls the media, controls the mind.” - Jim Morrison
I’m honestly surprised to see it finally said on a major outlet. Hope everyone behind getting this story produced and aired stays safe of repercussions. The ruling class with the equity also sits on the boards of all these corporations who get to have a say in our media along with our entire way of life. What this story does is deflect though. They aren’t naming the real major playeyrs. BLACKROCK. STATESTREET. VANGUARD. BANK OF AMERICA are just few of the names being purposely eliminated. Then again it really is mostly control by Larry Fink of BlackRock. He’s bought the world basically through this ownership of 100s and 100s of industries globally essentially monopolizing humanity and playing a game with exploitation.
These private equity firms are a huge contributing factor in the homelessness crisis. The government needs to step in and get this under control.
@@user-uy3eq5hg1s they need more homeless people to lock up to fuel prison labor to compete with other countries in manufacturing through the privately owned for profit prisons system. The United States has the largest prison/slavery system that’s ever existed in history anywhere. RIGHT NOW. The government has zero interest in “getting this under control”. The government is run by people who are financially thriving from modern slavery. It’s a shadow industry in plain sight that has been rationalized using every form of hate, division, and ignorance imaginable.
This started happening almost 10 years ago but on a smaller scale. The companies have become more aggressive lately. Equity Firms did the same thing to manufacturing in the US. They purchased the companies shipped the jobs overseas for cheap labor and closed the US companies and laid off the work. This happens when you have poorly regulated capitalism.
It's called organized crime that they basically have passed their own laws to conceal their dirty deeds
YES.... This also happens when corporations band together to pay lobbyists to soften regulation, then the politicians come join the board of said corporations after they leave office and reap more rewards on top of the donations the lobbyists gave them while they were supposed to be serving the public.
Sorry people it’s called capitalism at its best.
@@bryaneverett9850 🤣😂🤣😂🤣😂 comments like yours are what happens when your brainwashed into believing partisan propaganda 👌
How is private equity firms acquiring cheap real estate as the result of a collapsed housing market, the result of a pandemic that took place years after the fact 🤔🤔🤔🤔
@@bryaneverett9850 interesting seeing how places like Florida have increased housing costs....but that was because of an influx of people moving there, not the pandemic 🤔🤔
Which would also increase housing costs where they left due to the influx in homes hitting the market.....not to mention a steep and steady increase in housing costs since the end 2011 🤦🤦🤦🤦🤦
And they wonder why HOMELESSNESS is 1000% up!
They dont care about the homeless all they care about is covid
Because the homeless are a visual threat to any working class person who dares be unproductive or disobedient.
In the so called best country in the world. What a massive laugh.
@@carribgirl007 Notice how they don't talk about sanctioning Russian oligarchs because Americans started talking about doing the same to ours?
People raise rents sn insane amount then complain about tent cities popping up
Private equity is destroying our lives. I discovered that i work for a medical center owned by private equity and that I rent my apartment from a different private equity. It's a nightmare. Life has never been more difficult having to work for and live under these criminal secretive private equity firms. They literally squeeze every dollar they can out of everything they encounter for profit, no matter who's lives are destroyed
It's greed sister, Seek Christ while you still are able , forgive these greedy folk, Soon their punishment comes, Just Watch
Without them you’d be jobless and homeless, maybe they not so bad?
@@Timothee_Chalamet_CMBYN Without them, we'd be able to reach our full potential as artists, doctors, or mechanics. I cannot wait for the revolution so we can take back our lives.
@@Timothee_Chalamet_CMBYN we didnt need them 60 years ago
Why do we need them today?
We should unite and stop those private equities
I hate these private equity companies. All they care about is making more money for the rich. It’s no wonder the gap between the rich and the poor keeps widening.
Although the government can't stop private equity companies from buying homes. I think what they can do is put a halt until there's a specific number of built houses reached. We always argue that there's not enough homes available on the market. Therefore, the government should put a halt until the availability of housing goes way up.
Then do something about it instead of crying!
@@swallowedinthesea11 what can we do? As I see it homeless across the nation will be huge problem.
With less than $10, you can buy a share of this equities and get a return, but I guess spending your money on brand clothing is more important
Why no gun violence against these companies?it would be great if someone use their AR-15 IN PE firm office.
I just can believe how much rent has gone up for a single bedroom apartment since 2012. Eventually the dam is going to break and the rich will have to fix this. If your lower and middle class can't work because they have nowhere to live, you know we messed up
Rich people dont have to fix anything.
Politicians are tasked with the job of representing their constituents, and when they fail they need to face serious consequences.
But when you have a peaceful group at the capitol be called an insurrection, this can never happen.
Checkmate.
Have you bought gas or food lately? Are you living under a rock? What hasn't gone up?
The government is going to have to fix this... the rich don't care about you, they just want to squeeze you for every penny of profit they can get. The rich would be perfectly fine living in golden towers while the rest of us are homeless grovelers in the streets below.
@@TonicofSonic 😆 🤣 😂 😹 😆 🤣 😂
Companies in this country have representation, not people. We have no capacity to issue consequences to people we do not elect.
China is doing this to us. Wake up western world.
Laws need to be put in place to keep housing in the hands of the public and not corporations. Rent in my area used to be 750 a month for a 3 bedroom is now 2,800.
Trump was working on that...
wow. I can't imagine it. I've owned a house for decades, last rent I paid was $85. a month.
How long are we ago are we talking? Ain’t no way you were renting a 3 bedroom for $700.
Sounds like commie talk
@@eckankar7756 OMG !!!!
They also buy a few houses close to eachother, and artificially inflate the cost of the area.
Exactly
Okay that's funny 🤣🤣🤣
You are funny, 🦇
Good
What's funny about this
I'm homeless. I'm disabled and rent is more than my disability. I can't work. My van is broken. I'm going to be walking soon. Please show kindness to the homeless. You don't know how we ended up out here.
Get clean.
There are programs to help homeless people
@@adaminfinity1733 not enough to go around
I'm sorry to hear you're going through all that. Don't give up hope!
Call sleepy Joe ASAP
This is turning into a Dystopian Nightmare. Just like ready player one. You live in a slum, but at least you can play video games.
Astute observation. You are aware. They are trying to move people into the Metaverse, for greater control. They falsely claim that “you will own nothing and be happy.”
You win!!! 💯💯💯💯
Lol no one expected ready player one future!
This is nothing. Wait for it.
My old apartment complex also raised the prices of common services like door unlocks. What was once $70 became $170 over night. I started picking the locks free of charge for my neighbors so they wouldn't have to pay the pigs.
My apartment complex was purchased by Goldman Sachs and our rent increased by over 300 dollars, they also started charging an extra $50.00 for parking spots (regular parking, not garages). They force us to pay 30 dollars of valet garbage yet this system is very ineffective.
That’s why I’m moving overseas. I’m sick and tired of the US.
My apartment complex charges $28 for valet garbage that I didn’t even ask for or use. Something like that should be optional.
When do we decide that shelter for profit is a bad idea? When half of the population is homeless?
@@user-uy3eq5hg1s The same thing with medical care. It’s evil and immoral.
It’s getting out of control.
How the heck are They charging for parking😮? I pay for valet trash too and it's $30 a month plus an additional $25 charge and they barely pick up my trash!!
EVEN AT 15 MEASLEY BUCKS/HOUR PEOPLE CAN'T PAY THIS. HOMELESSNESS HOMELESSNESS HOMELESSNESS
You already see a lot of homelessness in big cities. Now it will probably be everywhere, even in small towns. Real scary.
Buying just the land and not a home is easier at this point.
Then use your brains and make more than 15$. sheesh
@@clarifyingquestions You’re either a child or old judging from your response.
@@clarifyingquestions There are plenty of well paid jobs available. The problem is that our education system failed us and the people don't have the skills for modern day well paid jobs.
We have a problem with rent increases. I am a landlord but I don't overcharge my tenants. I am sorry for our young people because they won't be able to afford homes in the future.
You will eventually sell out and the rents will get jacked up 500%. Seen it so many times before.
The future is now. We can't afford them now. How can we compete with investment firms?
I'm so glad someone recognizes this! I am about to become a landlord & I refuse to charge a tenant so that I make a profit. My profit is having my mortgage paid. My profit is having that extra $700 a month in my pocket to make other investments or pay down the mortgage faster. I would never charge more than my inputs (mortgage, taxes, upkeep) to a tenant & furthermore I don't think a tenant should cover 100% of those costs alone. I know that it's an investment, but when is enough going to be enough? People want their tenants to pay the mortgage, the taxes, reimburse them for the new water heater, the new floors, etc.
Rents so high I'm considering renting a bedroom in a shared home
I'm a landlord as well. I love it. I think it's far time that we have the power. I am making more than I ever have and I love it. Im raising again next year, and it will be my largest year on record
Wow people simply looking for a place to live are screwed.
@@robdmob305 🤣
Rents have to go down to stop investors and corporations from exploiting and messing up the housing market everywhere! Housing is a basic need and a human right, and homes should be bought exclusively by families or individuals who need a roof over their heads!
I think GREED will prevail in this day and age.
its like a monoply for investers,,busness..it seems illegal to do..?????
@@mr.d352 already has and been for along time
This whole system is made for eich to stay rich n poor to stay poor
This is the kind of issue everyone on both sides should be protesting together nationwide.
9% increase for me I September. Everything else more expensive and you need 8k to move. It’s terrifying. Where am I going to find an additional money on top of rise in cost for gas, food, school, etc. it’s insane!!
"My butts been wiped"
-Joe Biden
Yes l just recieved a notice today that my rent will increase September 1, 2022, and it just went up in February 2022. I have a migrane. I'm just going to keep pushing. Smh. I'm already struggling to pay the rent now!!!!
No apartment 1 bed 1 bath is worth anymore than $450/Month! Why? Wages are stagnant and too low for over 45 years!
I agree wth happened to $500-$800 a month for most decent places? You could even find some 2bd for that before . We need to go back to that because at this rate young people like myself will never be able to afford a home let alone to move out. We’ll be right back living with our parents or on the streets if they raise rent every year but jobs aren’t required to raise your wages at all.
Facts
Things like this will keep happening as long as there are no laws to stop them. It’s the old story of the rich getting richer and screwing over the poor and low income.
Yep. They can do all the news reports they want, but until they put some measures in place that stop everyday working folks from owning a home, it will absolutely continue. If they are making money on it, they aren't just going to voluntarily stop because they saw a news report saying what it was doing to the home buying process for single family buyers.
Yet you continue to vote for the GOP
America: Where you can work a full time job and still be homeless.
Tope it is call the working poor. Now everyone is getting roommates, just join the party.
Very true. I work 3 jobs and break even on a good month, renting. No kids. No pets. Just America.
@@ayotushinde Have a drink u r going to be fine stop stressing.
@@Elaine-jq2yw 😂 cute.
America. Home of the brave, land of the free.
Why doesn't anybody talk about the number of American homes that have been purchased by residents of China with no intention of ever even setting foot in the country?
You don't think Americans do the same thing?
@@Ken-yp1dg At least they're AMERICANS, you DOLT!!!!
Most chinese own mansions, not something like rentable homes or mansions.
@@lolcatjunior LOL, you couldn't be more wrong.
Why stop with Chinese investors?
There are other foreign investors too...
Private equity firms need to be stopped! We need to place a law that will protect the renters from the and companies like Zillow who buy up property to sell at a higher cost above market value!!!
Many hoas are making a rule that the house must be lived in by the buyer for 2 years before it can be rented out. That will stop some of them.
Mao Tse Tung got the answers
Don't think Zillow is still buying properties. That failed miserably for them.
Vote red. But stay in your crappy blue states.
@@thatman4752 it’s red businesses doing this ish
Sounds like war against the ppl
It is a war against the people of America
The Love of Money is the Root of All Evil.
But not you, right?
True that.
Where ever you find evil, you will also find deep money.
Amen
Thank you for quoting scripture correctly!
I am a doctor now, but back in undergrad I had a part time job with Greystar and could never understand how the apartment complex they managed was tax exempt. These companies need to be hit hard with taxes.
You hit those companies hard with higher taxes i guarantee you renter's will be hit hard with higher rent .
@@CryMeARiver63 Lol, sucks for the "renter" to be at the bottom of the pyramid then. The pyramid crushes those at the bottom into fertilizer.
@@CryMeARiver63 So you make what they’re doing illegal. These corporations aren’t guaranteed a profit or a certain profit margin. We need to make these practices illegal.
@@CryMeARiver63 which is why we need rent control people are being pushed into homelessness because of increasing rents today
It's going to be so bad even Homeless Tents on streets be charged property tax.
I've been saying it for over a year now. We don't have a housing shortage, we have a housing for profit problem. They are buying up homes that would be going to a family, paying cash and well over asking price that a first time home buyer doesn't stand a chance.
You fought for this. You deserve it.
@@Saxxin1 What? You don't make sense. I think the bot is broken.
@@evanpatten4101 Not a bot silly. I stand by my statement. Your suffering is just beginning. It's going to get a lot worse. And you DO deserve it.
@@Saxxin1 lol ok. Well if your not a bot I have feeling you have a few children tied up in your basement. Real cultist/serial killer vibes. NSA do your thing!
You are being brainwashed to blame the companies. MSNBC is so dishonest, Joe Biden caused inflation that is why the gas, food , and apartments are up. Quit blaming the gas companies, the apartments companies, the food companies. Joe Biden sold access to China through his crackhead son and through Crooked Nancy Pelosi wall-street china deals.
The worst is that they bought up a lot of the mobile home parks and are bleeding a bunch of poor people dry through massive rent increases for the lots.
Worse. They got rid off mobile homes to redevelop the land into condo townhome or apartment.
@@33Jenesis That almost never happens.
A friend planned to exit her apt early and pay the lease severance. The property manager offered her a deal that they could put the apt on the market that day and if rented, she skips early termination fee and moves in 30 days. If not rented in 30 days, she pays the fee. The rental rate jumped by $1200!!! The unit was rented within 5 days. They asked her to move in 15 days vs 30 days and offered her deposit back no strings attached. They were so eager to get that extra money, they “booted her early.” Since then the rent has gone up again another $500. So $1700 increase in one year in Miami. She fears had she stayed, her rent would have gone up $1500+ in one year. Scary times
MSNBC is so dishonest, Joe Biden caused inflation that is why the gas, food , and apartments are up. Quit blaming the gas companies, the apartments companies, the food companies. Joe Biden sold access to China through his crackhead son and through Crooked Nancy Pelosi wall-street china deals.
Disgusting
That’s inflation
I can co-sign this story. I live in Miami (Brickell) I was paying $2600 for 2bd, last year they went up to $3000, now they are telling me $3500. I can’t find any 2 bd apts down downtown for this price so I have no choice to either pay or leave Miami.
@@berineayala4767 Artificial inflation
I'm so thankful that my landlords are renting me a place to live in at a reasonable rate . Inflation is uncomfortable but i'm thankful that my job pays for my life.
You are lucky because rents are going up everywhere . Rent prices rose by 0.8% in june from a month earlier, according to the labor department it is the largest monthly gain since 1986.
How can the typical family with average income afford a higher rate+ more expensive home? in my area multi generational home is becoming the norm . Don’t forget to add the inflation which just this week was 9.1 on the CPI , producers index 11.3, it’s going to be a rough ride for sure.
Time will tell how this period will treat people that never save, invest, lived beyond means, paycheck to paycheck, too many kids, too big of home, keeping up with the joneses with FOMO,YOLO, paying alimony, child support, etc
@@Natalieneptune469
I raised all my rents at least 30% in the past year. You better hope your landlord doesn't catch on to reality.
There should be a ban by those mega corporations, equity firms etc on buying any sort of homes. Home is a national necessity not a privilege or luxury.
That would basically ban most Apartment complexes from being built. We need more housing.
Why, you too can be Mega 😂😂😂
what a ignorant statement
Everyone should know this. This is why many rentals are not updated and well maintained. It's not in investors' best interest to spend more than they have to. They don't want to eat into their profit margin
These firms are not "really" in the landlord business, and don't really want to be. Look at the Trump family : started with granddad running a whorehouse in Canada in the Klondike and haven't really moved "upward" very much. My parents were wonderful "New Testament" landlords that never forgot that once they were poor and needed help, too.
So true. Though this story focuses on site homes, this happened earlier with trailer parks. All the ones in my hometown were bought by equity firms, and the first thing they did was take away all amenities such as trash pickup, lot maintenance, and lawn care and then double the rent and raise it every year. It’s heartbreaking as most who live there are on fixed incomes and cannot afford to buy land (our area requires a minimum of five acres to put a trailer on it) and move their homes. Renters were even told that any damage or upkeep to the sewage system would have to be paid by them, even though multiple homes are attached to each septic system. I read an article by the New Yorker where they described seminars held by firms touting that trailer parks were easy pickings because renters were basically chained to their homes and couldn’t escape their predatory policies. It was revolting. My mother at least has me to fall back on if things go south, but many do not have that option and essentially would become homeless.
My rent went from 1000 to 1300 and they don't have any reason for it, so I'm moving, someone will pay it just not me
The reason for it is the rise in home values in the area.
I'm on the same boat. I'm gonna have to move to the middle of nowhere, luckily I can work at home.
And...go where? Cardboard box on the street?
@@karlabritfeld7104 I'm moving to a cheaper smaller apartment
@@daniellebrooks7510 They're doubling the rent on those too.
I feel like we are at a juncture in society where we need to consider the ethics of using a basic human need (housing) as an investment, particularly when it comes to multi-family properties. In 2014 someone may have bought a 3-unit property for $175k in my market, charging $800/month for rent. In 2022, they sell that property for $350k to someone who put 10% down, and now their mortgage is $3000/month and they raise rent to $1300/month without any "improvements" or equity being made on the property. A new owner with a higher mortgage payment is the only reason for the cost going up. I know this is the way of the world, but shouldn't hard-working families be able to afford a roof over their head in the community where they work? I don't know why housing is considered a luxury. The attitude is, "how dare you ask for afforable rent? too bad, so sad, get a better job, get a 2nd job, be smarter, be a better person, be better with money" - meanwhile, plenty of responsible people working 60 hours a week, paying taxes, contributing to society have to choose between housing or saving for retirement.
I completely hear you, but we are fighting against people, who don’t even think water is a basic human right that should be provided freely, there are powers in this country that believe you should have to pay everything you’ve got to live,
that goes for housing, food, &water, three of the most basic necessities in life, they don’t think that anything should be easily given to you, Meaning, you should NOT be privileged to anything decent, clean and affordable. Now I ask, how is the low-wage fastfood worker suppose to live? what about everybody else? Those powers don’t want to hear that, they don’t care about our basic human rights, they just want you to keep working…now get back to work slave. smh
I would agree with almost everything but you haven’t factor in inflation over that 8 year period. Maintenance for house have gotten up by over 200 percent too and yearly property taxes increase.
I work in multi family construction and the cost of goods has gone up significantly. The cost to build a property is significantly more expensive this year than it ever has. If the cost of building materials hadn't exploded the cost of rentals wouldn't have exploded. Added to that the shortage of physical properties available in a given area. Particular in places like Florida and Texas who are being inundated with new residents. What do people expect?
This isn’t the way of the world. This is late stage aka end stage capitalism. Ever play the game Monopoly? This is our system. Scared of communism or socialism? Communism’s root word is community. Socialism comes from society. Toxic individualism and American exceptionalism along with the unique type of capitalism we practice in this country is destroying our nation.
@@nicolecrow4726 your logic is flawed and incomplete as it doesn’t account for the private equity firms purchasing 5 year to 30 year old homes and selling them without any renovations done for more than double the purchase price. They are flipping homes without investing in any upgrades or remodels most of the time. Nothing justifies the exorbitant new price listing. The turn around is literally within days of purchasing these investments. These are not the “new” homes you’re speaking of. Majority of these investors buy established family homes that have already been built and lived in for any number of years. There’s nothing new and no work is done. That said, there is no such thing as the high costs of inflated building materials to factor into the situation here. There’s literally nothing being done to these homes to justify the price gouging of these homes sales from private equity firms.
Decent housing is a basic human right. These companies have cornered the markets they have in some cases become the nation's slum lords.. They are causing those who have a roof over their head's to take second and third jobs just to maintain basic living expenses which has a ripple effect on working families whose children have less supervision. There are those who can't keep solvent sometimes because of issues beyond their control become homeless and are forced to live in their car's or homeless shelters. American greed as well as foreign investors are fueling this tragedy. It's likely to get worse in the near future, in the long run we will become "Hooterville" where" business is business." Thank you for covering this very important story for those who have no voice, and get routinely ignored when they do speak out.
We all wanted to be Trumps..landlord investors..infestors..
Although I agree with you it doesn't help that the government raises taxes on everything. I have 2 rental houses and I've never ever increased rent unless my property taxes go up. When that happens I send out a notice and I describe the reasons rent is going up.
You bring up very important issues and make good points. One question, who is going to pay for this basic human right?
What is considered decent housing and basic human rights? Most countries don't even have anything near as much space as housing in the US. Many European and Asian countries found US housing waste a lot of space and Americans are just so used to more space for little money. Also many countries don't even have drinkable water included in their housing utilities and yet many Americans retired in some of these countries with bad tap waters and still considered decent living.
This is capitalism. Yeah in America the human right is to pay your rent.
American Greed
Hey, it's the price of freedom
Dont like the price don't pay move. If people are willing to pay the high prices let them
Beats Socialism.
We are truly watching late stage capitalism in action. Things might seem okay but if you look any deeper than the surface you see cracks appear everywhere in our system.
Right. Capitalism works but it cannot go unchecked, this here is the result but I believe if we don't fix this quick this will only be the beginning..
If extreme socialism is bad than so is extreme capitalism
Capitalism is the reason climate change will never get addressed or reversed. It is a runaway freight train about to derail.
Absolutely!
Nope. This is government intervention creating a shortage - and greedy opportunists are milking it for all they can. Allow capitalism to function - and builders would build new housing - renters would have lower cost options due to the increased supply of housing.
This just makes my blood boil. This is extremely evident in Florida. Housing is not the stock market! These firms need to continue to ruin that and stay out of working class people's neighborhoods. People are being distracted by bs like abortion when this is what the States need to be making laws about!
Well, the supreme court doesn’t make laws, but I get your point.
@@mk1st You're right I fixed it
BS like abortion will exacerbate this situation when people can't afford homes to house their children and them. Children they may have not been ready for but the state has no option to assist beyond options that may not align with their family/cultural ideals (nevermind the situation they're now in), but I get your point.
Amen
I just read an article on a real estate website, the number 1 country currently buying up American suburbs is India. I'm surprised. Mostly Az, Texans and mostly Florida. I've never been to Florida, I should visit before the 'doomsday' glacier brakes off and floods it.
It’s incredibly difficult to find a place to rent that’s affordable. It’s impossible to find a home. What is this generation supposed to do?
Live in employer provided housing. Best thing I ever did.
We grab our torch and pitchforks
@@cosmicllama6910 I’m with it
The person responsible for all this was the late founder of Public Storage, B. Wayne Hughes. After making billions with his company, he started another one right after the '08 Housing crash called "American Homes 4 Rent". That company really spearheaded Private Equity firms doing what American Homes 4 Rent did, and has now lead to the current crisis today.
B. Wayne Hughes recently died in Aug 2021 at age 87 -- net worth: $4.1 billion.
See died with money he couldnt even finish one thing God made every resource and wealth equal to everyone it is just some people take so much for themselves
I am curious how much of that net worth he took with him to the grave. Also, asking for a friend, how much is his net worth after his death?
GOOD RIDDANCE
Politicians and rich people are the problem in this world
WRONG. The legal bribery of our politicians is the mother of all socioeconomic problems.
You can always move to a poor country.
Literally
Ya poor people are not creating issues. Except when they go to the polls or go out for a night on the town...
@@thejuicerr poor country or one less expensive and they would have money benefits than US: healthcare, fundamental rights, affordable utilities, school programs and a livable wage. 😅
Good old american corporate greed in other words.
It’s not only them. The smaller individual landlords are following suit with this greed.
In Philly suburbs a one bedroom before the pandemic was average 950 to a 1000.
They now going for 12 to 1800 for same exact apt.
Just wear this country was built on.
Van life is sounding better by the second!!!!
Until you try it for real 😂
@Steven Torrez yes but if it comes to it I’m definitely going to build to fit all seasons!! My uncle who builds homes is going to assist me so I’m sure he will ensure I have adequate insulation, heat/ers , and battery power!! Plus I’m a Wisconsin girl so I’m up for the challenges of winter🙂Plus I will be in state not traveling and my family is in state so it should be okay.
You could always improve your job skills and find a well paid job. Just saying, van life is not the only option.
@@thejuicerr I work for the Federal Gov making a great salary in my career. Let me make sure I understand you correctly so because I would do van life I have a low wage paying employer🤔🤔 NOT EVERYONE has to live big sir, smh!! I repeat I have a career not a job lol!! I’m an outdoor person and for the record van life is not just for a certain income group………wow just wow
@@DatGworl You go girl!
Glad to hear this getting covered. It's been an ongoing issue finally at the forefront
Nothing will be done ✔️
@@miggy4105 yeah...return to the gold standard?
It's like they want to create a society w/ a huge poor working class who's homeless. These companies are shameless in the face of revenue and profits. We need laws enacted to further protect housing from these corporate landlords.
That is what the globalists want for America. California has half of this country's homeless. And who is in charge of California.
Thank you!!!!!! That’s exactly what it seems like to me. Making as many people destitute. Then throw in the orchestrated demolition of the food supply.
Welcome to the beginning stages of socialism in America
End housing commodification, end housing monopolies, cap and tax non-primary residence ownership, end foreign ownership of property, make housing a right, cap rent by percent income, allow and encourage tenant unions and rent strikes, criminalize landlord negligence.
I don't know what all that means.
Don't vote REPUBLICAN then.
This is a free country. Apparently if you have enough money you are free to screw over anyone who can't pay.
@@jeffshackelford539 That's why you pay too much for everything. Grow up.
The consequences of all that you said, is there would be no more landlords. The government would have to increase public housing, and they have been the biggest slumlord there is.
Rent in my area went up $500- $700 a month overnight. It's crazy!
What city?
Good
Think for yourself. St Louis Missouri
HOMELESSNESS. HOMELESSNESS. EVERYONE WILL BE HOMELESS.
I refuse to allow that to be an option for myself!!!!
Watch the suicide rate go sky high too. Many will not be able to cope with living on the streets. Sad times in what used to be a wonderful country.
When you look closely at this it's absolutely a monopoly of the rental and housing market. The Feds keep raising rates, yet these firms are paying cash for the properties. It's not only forcing people out of what was once affordable housing, it's also preventing many homebuyers out of the market. Raising rates are compounding the problem for individual homebuyers. Many are having to remain in rental properties with increased rents up to 100-150%.
Boy was that rent moratorium a bad idea. It forced all the mom and pop landlords to sell and the firms bought them up. People just don't think about consequences anymore.
Nice try this was happening prior to the pandemic.
@@dn6608 I sold my rental during the moratorium. Lease was over and the probability of not getting paid rent was too high.
@@dn6608 It's funny that all the people complaining overlook how the rent moratorium helped create this.
@@dn6608 of course it was but not to the extent it has over the last two years. It has exploded.
@@bryaneverett9850 I never thought to put the two together. Makes a lot of sense now.
Home prices through the roof and rent is being raised by hundreds. This is untenable. Eventually it'll lead to violence in the streets if something doesn't change. I'm glad this is being covered
I’m betting that violence is *exactly* what they’re counting on happening. Then they’ll make money on the jails they send us to.
It's already increased, I left south Florida, for many reasons but crime is bad, and it was already bad, it's spilled over into the more affluent communities. People get desperate and do stupid things. Im a nurse so i have the flexibility to move, but I feel sorry for those that can't. I have friends that switched from teaching to nursing because it was more profitable. I mean it's sad, they really don't realize or care what happens to families
When do we decide as a country that shelter for profit is a bad idea? When half of our country is homeless? The government might need to step in to put a stop to this. These equity firms don't care about you, you're just a number they're trying to squeeze profit out of. It's just a matter of time before equity firms own 90% of the real estate in the country.
Private equity for homes, private prisons, it is all about money, not about people.
And it's legal.
The government should step in. This doesn't make sense.
And you think your government cares about you?
And that is how we lose to China.
This finally getting exposed. The greed is outrageous! Its been going on for at least 3 years its getting worse. Something needs to be done , many more people will be homeless.
My rent increased last month....and i wondered why would they raise rent during these tough times? It just dont make sense to pile on all this stress on people especially wirh inflation.
😲🙄😐😭
They don’t care about your stress. Pay them or get out.
It’s a really messed up system.
@@AbsFabbs i pay my renr i just stated that they raised it. Im gainfully employed 🤪
@@JayOne44 I was being sarcastic. The whole system is messed up if you ask me.
That one bedroom is more than my monthly pay, so how are people supposed to get by? This is another case of Corporate America in EVERY facet of life. I am an Army Veteran and this is a disgrace.
I live in the DC area. Middle class and lower middle class people here co-reside with family or roommates. I live alone and it is tough to keep up solo with what 3 adults are able to pay in rent. Parking is also an issue, so many people here have 3-5 cars per household (since there are 3+ adults in the household) and someone is always taking over my reserved parking space. Not to mention the shared laundry facilities and the noise. It's getting to the point in America where we are forced to pair off or co-reside.
My rent went up to almost 1000 dollars! I’m moving next year tired of them adding erroneous fees! Remember this at the voting booth people that’s all I have to say.
wow...that's crazy
Mine went up 25%
When you live in a luxury apartment
@@gemechannel2899 I live in the ghetto actually and can hear gunshots at night
I am an investor and much smarter 😁😁😁, I don’t cry 1k , 10k 😁😁😁
Any chance we could get the names and addresses of the sobs who are directly responsible????
Would love to show them my appreciation
🗣🤣🤣🤣🤣Exactly
We had slumlords in NYC decades ago. Trump's father was one of them. Nothing has changed.
Democrats. Anyone who voted Democrat.
@@thatman4752 shouldn’t be so sure about that!!!
Unfortunately most are overseas that's why America debt is getting higher. And we the people got priced out by our own government decades ago like cattle
We all saw this coming - with low interest rates, they bought up all the real estate they could get, over asking price. Drove up home prices, forcing out homeowners - now renting out those homes to the very people they priced out of ownership.
Correct smh
tihS is out of control! One person shouldn’t have to work 3 jobs or more just to afford a one bedroom apartment, once rent and utilities are paid, there’s nothing leftover for food or any other necessities in America.
The middle class are now pretty much working paycheck to paycheck just to survive. But if you’re working 3 jobs; then you shouldn’t be struggling. At that point; it’s a money management problem
Welcome to America, land of the brave and free.
I live in the Nashville area and they had a news report stating that 30% of the homes purchased in Davidson County were bought by different LLC firms located in 17 different states. All over the city, billboards state, "Sell your home - we pay cash!". Unless they win a lottery, I don't see how someone can ever obtain their first home.
By not living in a major city for a start.
Do they want everyone in tents or cars? I mean come on. It shouldn’t break your back to have a roof over your head. Basic human rights.
This system is corrupt.
It always has been
I rent out a 3-bedroom, 2-bathroom single-family house in a nice neighborhood for around $1200 per month. Maintenance costs and taxes have gone up, but _maybe_ 5-10%. So, yes, rent increases are coming for my renters. But landlords who increase rent by 3x the rate of inflation deserve every bad renter they get.
Supply and demand, you bought your rental at an old price, current rental units are selling for a lot more. So when there’s a new purchase of rental property, the rents are going to be at a new price. There’s only so many units out there like yours, so that’s why the equity firms are able to rent at a higher price. There’s a shortage of housing currently as well. The market dictates the price.
@@steveh5882 And the filthy rich control the market.
@Cire Ratnacla people like him are the problem
@@roninprepper8834 😂... He has to survive too. The price of EVERYTHING has gone up since Pedo Peter took office but somehow....by some magical force.... Biden is not to blame.
@@roninprepper8834 You might think that, but while rent is $1200 per month, expenses are $1300 per month. It's a deduction on my taxes, yes, but people like me aren't the problem.
This is criminal. Our citizens have a human right to afford a home to call their own. Nobody is asking for handouts, but these rents and home prices are not affordable. Unfortunately I don't see this getting any better soon. But I hope in the longer term, rents and home prices go down.
Yea they will make it come down for you by buying it up 🤣
My husband and I had to pay 20k over the asking price for a HUD house to even get a home. We still have to do a lot of renovations to the home due to property manager not taking care of the home properly. We just gut the bottom half of the kitchen and it was horrifying what we found.
What did you find?
What you find in kitchen?
😁😁
An you contributed to the housing problem thanks
5 years ago I was able to get my first apartment with my boyfriend for $895 a month.
That same apartment is now going for $1350. Even with a partner or roommate I could never live there now. And this wasn't a nice place...
Can’t wait to get my consumer law filings done and fix my credit, it’s getting crazy
Been wanting to do this for a while now but got no idea how to go about it
@Sarah Sanders had a lawyer do it for me for a fee, got every penny back on my car and currently filing for one of my houses
@Sarah Sanders tamrabush1
On tel le gra)m
Oh wow you know Tamra? Awesome lady, helped my mum get a $50k dept remedy last month
On some rental sites, you can see how many people have contacted/applied for a listing. How can 1 compete with 60 other people applying for the same units? They require an application fee, credit scores to be over 680, make 3x the rent, first/last/security move in cost…
Those requirements are necessary since you don't want to get stuck with tenants that wont pay rent for the next year. You have to look at both side of the equation.
True so many end up living in their cars or staying in hotels hoping to get an available apartment which maybe hard.Hence, so many people are homeless
that’s the problem, you’re going to rental sites, if you want to find a place where you don’t need all of that, you have to actually go walking through neighborhoods and look for phone numbers in peoples windows, they will rent to you month-to-month, no lease, it’s not really secure for you, because they can kick you out at any time, but at least you don’t have to pay all of that and do all the hoop jumping.
I have personally done that, I ended up not liking the people, and going to a realtor, and finding an even better place, So in the end, I ended up paying for that first month and last month and security and all that. it’s just worth it sometimes, but that first place gave me the chance to save for the realtor.
HOW DO THEY EXPECT PEOPLE TO BE ABLE TO AFFORD THAT PRICE !?!? I MAKE MORE MONEY THAN MOST PEOPLE & THERE IS NO WAY I COULD AFFORD 1,700 A MONTH..........I WOULD HAVE TO STOP EATING..........NOT SURE HOW THAT WOULD WORK !?!?
Well if u make more money than most ,$1700.00 dollars rents shouldn't be a problem. Because the average rents are ,$1500.00 a month. That is for the regular working class today. U CAN always get a roomate.
I've never seen so many "multiple families" living in single family houses like i do today in my neighborhood. The thing is, it's totally against HOA rules, but people do it anyway. It makes it harder for an actual single family to afford living in a single family home.
@@Elaine-jq2yw 1500 is still insane
@@afteritsallsaidanddoneisti9285 the world done shifted we had low rents for years. New York city been paying high rents. Now people are being force to change. America is becoming just like Europe very expensive to live here. Alot of people just left America all together or people are getting roommates. We as Americans was not prepared for this hike at all. With everything but it is going to stay this way.
@@Elaine-jq2yw your kind of snotty........❤️☮️🙏🤪
PRIVATE ((meaning they're owned by private founders and not public to be traded on the stock)) EQUITY firms main objective is to give profits to their small number of investors for as much gain as possible. They don’t care if they price one bedroom apartments close to 2k, all they care about are the returns to their small investors. They also get bailed out for everything including 5 billion COVID relief funds. They should make these type of companies illegal…they are the reason more people are in the poor class.
The companies doing this even have it as their GOAL to start taking 40% of people's paychecks. But then we know even that wouldn't be enough, then they'll set the goal to 50%
Most financial investors will say anybody spending more than 30% of income on housing will be in trouble.
why come inflation and rent and groceries allowed to float up but minimum wage requires manual political intervention every single time
The wages did go up. Did you think nothing else would?
Why are private equity firms allowed to get government backed loans meant to help poor people buy a home? This is causing exactly the opposite effect it was intended to have. I resent having to pay higher taxes so a corporation can buy properties risk free in order to jack up prices.
They must be in on it..greeeeeed
You nailed it.
It's not risk free.
easy fix, boycott all private equity rentals. then they have to sell their "investment" at a lost. A hard working family can then buy a home at discounted price. if people really banned together to refuse to rent from these corporate rentals we can make the lose their money In a matter of months
They are buying entire neighborhoods which pushes the price of a single family home up which in turn raises rent prices.
These equity firms can sit on a whole neighborhood forever with no incentive to utilize the home as housing.
The only way to fix this is by passing laws.
@@robdmob305 another easy fix, make it viral by expressing the situation as a clever tiktok meme with a catchy background music and a robotic commentary explaining why we need to boycott corporate rentals.
@@V8_Morgan No. The way to fix this is to build more housing.
No wonder homeless is high
Increasing? No. Sky rocketing. And they’re also removing thousands of units from the ownership cycle. So you can only rent.
Healthcare and having a roof over your head shouldn’t be a for-profit business!
This is what the government should be going after. These companies are becoming responsible for the homelessness in this country. If anything needs regulation, here you go. Goverment intervention is needed and right away.
Government is primary cause of the problem
This has been happening for years and years. Companies buying up low cost properties and raising rent for the local area.
Rent control seems appropriate.
Glad to start hearing about this.
It's a damned shame that these companies are driving people in the streets 🧐
Just like everyone came together to change policing, everyone needs to march and protests until these greedy hounds are put back in their cage. They simply don’t care, keeping score is all they think about never actual lives of people.
Marching won't work against these people. General strike or mass refusal to pay rents might.
Most people won't do something that threatens their housing like that because they're still too caught in the competitive "I finally got a place" game. They won't see it until they're homeless and only the uber rich have a roof. By that time the majority of people are homeless, homelessness will be made illegal and homeless will be made pariahs by the media.
@@Davina_-_XD I agree.
@@conquerunderstanding7517 I agree with you and think it's time for people to take action, however they do it. Marching would mobilize people which is very good.
@@Davina_-_XD we need to overwhelm our districts senators and elect a new one each time until they listen. My senator in Missouri is Eric Burlinson 32nd district. He is a good senator, currently trying to pass a bill to limit the terms for congress so change can happen.
They will just bring out the military, water hoses, stun guns and rubber bullets. Or worse
I first came across this when my mom’s trailer park and all the surrounding parks in her area were acquired by investment firms from New York. They immediately took away all amenities such as lawn care and free trash pickup and doubled the lot rent and then raised it again the following year. Most of those living in these parks are retirees with fixed incomes and are “trapped” by the monopoly these firms created. Additionally, moving a home onto a private lot is out of financial feasibility for them. Then my friend started looking for a home to buy and here comes the investment firms again…buying up properties with cash offers and then turning them into rentals, inflating both property values and rental rates by charging exorbitant prices. They’re also targeting apartment complexes with the same tactics. Even those that aren’t bought out are raising their prices too to cash in on what is now being seen as the standard rate. She’s been forced to rent this past year and her complex has raised it the maximum amount allowed at the re-up and are planning to again next year. Those that aren’t are treated like rent controlled units - highly coveted with little turnover. I thank my lucky stars I bought my home right before all this madness. On paper, my home increased in value by 25% in two years…and it’s a tiny two bedroom bungalow. My friend hasn’t been able to buy a house in the year she’s been looking because she’s either priced out or refused to pay the markups on these properties. Houses that sold three years ago at 150,000 are now going for more than a quarter million. It’s unsustainable, not to mention the havoc it’s playing on the lower to middle class (there isn’t anywhere near as large a markup in my area on high price homes/mansions as they are more of a niche sell) who are forced to become house poor regardless if they buy or rent.
Thank you for the information.
This is sickening, rent in LA and NY and everywhere are insane. American Corporate greed is forcing many into being homeless. Our society is crumbling before our eyes, this is the worst I've seen it in my 55 years. No regard for the common good, only for self.
There needs to be a major crackdown on these private equity firms. You can be sure they’ve already bought politicians in Washington who will vote against any kind of reforms. They’re making the housing crisis worse.
Remember when rent control was on the ballot and people said "Don't let the Government take away the freedom to set prices for ADU rentals". Now it is out of control 🤷♂️.
I just retired and pay all my rent and expenses with my Social Security...but not in America
I’m thinking of taking my retirement overseas. I’m looking into a pensionado visa
@@rduncan89 nobody is going to want a huge rush of Americans running to their country. Just like Americans don't want Mexicans.
I just retired and pay all my rent and expenses living outside the US. I live well outside the US. I have a business in US that I earn my income. Cannot collect SS yet a few years away.
@@denisefitzgerald7653 Sounds good. Good luck.
@@rduncan89 It's good to consider all the possibilites.
This is a issue that needs to be addressed by the government now since it has gotten this bad
The government created the issue. And is not interested in changing it. Sad to say, but truth.
Thé biggest thing I see for Canada and America is a lack of supply of luxury homes and just regular homes in all major North American cities. A lack of luxury homes means the rich move into homes once used for the middle class, leaving the middle class to buy the homes of the poor. Its a cycle. This is especially true in Vancouver, Toronto, Miami, NYC, and LA. Building more high density buildings should be the top priority for North America. Especially being that with immigration our population continues to rise and yet housing supply isn’t increasing. Add in all the hikes lost to flood, fired, hurricanes, tornadoes and etc and you end up with almost the same supply of houses even after new construction is finished.
This should be highly regulated area it affects millions of people
Rent is up news outlets are talking about it but nobody won’t do anything about it smfh just sad
I propose regulating local housing markets to local citizens. If you don’t live in my city, keep your money out of it and don’t mess with our real estate.
These prices will never go down Unless the government physically goes in and changes those prices these prices will only keep going up-and-up and up-and-up
There should be prime time congressional hearings.
We wonder why cooperations were buying homes in the suburbs doing the pandemic.…now we know. The government needs to regulate this, to protect ppl from going homeless and for quality of life.
In Northern Kentucky, an entire lower income apartment complex has been purchased. All the residents got 30 days notice and are each getting $500. There are less and less options for people to live-lower and middle income folks. Where are people going to live??
$500 as severance? Or is their rent going up $500? Either way that’s bs
Yeah, Im looking at condos north of Cincinnati. Im seeing ones that sold for 90k in 2014 now selling for 170k. Kindof silly that a 2 bedroom condo is going to cost me the same per month as my parent's 2.2k sq ft house with a full basement and 1.5 acres of land.
Why hasn't the First time Homeowner credit that Biden promised passed yet? It's supposed to help Americans purchase their own home. When landlords see that people are buying they will start lowering rents.