Communities fight against 'build-to-rent' subdivisions from breaking ground in Central Ohio
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- Опубликовано: 10 июл 2024
- ABC6 On Your Side Problem Solvers presents the latest edition of The Hidden Costs of the Housing Crisis in Central Ohio.
Ohio lawmakers say they fear a new renting trend will kill off the middle-class. That trend - Out-of-Town and Out-of-State investors buying up Ohio homes as soon as they hit the market, and then renting them to you.
abc6onyourside.com/on-your-si...
#ohionews #consumer #rentorbuy #buildtorent #homeowner #buildtoown #renttoown #housingcrisis #housingmarket #ohiohousingmarket #ohiolawmakers
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This story needs to be told on the national scale. It's not just happening in Ohio.
It's not only happening in America, London, Mexico City, Tokyo, all cities in the world are being converted into investment assets and governments are allowing it
How much control should government have? That is the question. How much government interference should be allowed in free Market capitalism?
@@Steve_TakesI don’t think this would be as bad for the free market. Makes me think of zoning. E.g. this zone of homes can be rented and this other zone can’t.
@@Steve_Takes you clearly did not even watch the video. Proposal is to remove tax breaks for large corporations that are buying up then depreciating these assets on a large scale. Isn't the tax break already "government interference" as you call it?
@@Steve_Takes When the transactions are setting the economy on a path for destruction (e.g., nationwide housing crisis), the government needs to step in and set regulations. Even the best economists believe free-market capitalism needs occasional regulations to prevent such grand destruction of the market. And if everything were above board, why do these companies purchase under so many different LLCs? Sounds like they are trying to avoid pre-existing regulations.
100 percent. Rent isn't driven by market demand anymore. It's driven by corporate greed.
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
Your 401k and employer pension might well have shares in said corporation.
And people wants everything provided to them for free
I see you like communism.
Wanting a reasonable cost of living isn’t communism. Jfc this is why nobody takes conservatives seriously anymore.
companies shouldn’t be allowed to own single family homes! period!
POOR people shouldn't be allowed to own guns. They might try to enact meaningful change.
Any homes
Yah, how about straw buyers? Cute grandma and gramps buy the house, then in 30 days pay it off and sell it to Corp..
@@cipdamboianu5139 No corporations should own residential homes period.
That would make things too simple. Life would be easier and you’d be happier. These demons don’t want that
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $380K. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $75OK+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.
@@MarkFreeman-xi3rk I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, do think your Inv-coach could guide me with portfolio-restructuring as i wouldn’t mind a recommendation.
Actually, I've shuffled through a few advisors in the past, and Margaret Johnson Arndt remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.
Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, thanks for sharing.
It's a terrible thing that's happening in this country. Corporations don't care if a person can afford rent. They will let a home sit empty until someone desperate enough moves in.
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
I learned how corporations think when it comes to renting. If you stay after the lease they will raise it by 20% every six months because if you stay you must have the money and they deserve to take it from you. It is hard to move especially if you need to work 60 or more hours a week just to pay rent.
Do you care about corporations going to their bankruptcy or their cash flows? I don't think so and why do they care about your affordability????? It is not their job or responsibility to care about your financial situations. They have way more data and know numbers what people can afford in the area before they even build their rental properties. They have every God damn RIGHTS to do business in this country.
Exactly.
Corporations are ran by intelligent people, they know that having a property sit without making money is a lost, your logic does not work. The truth is, irresponsible people wants everything to be freely provided to them.
Raising taxes on corporate landlords is not enough, they will just push the increased cost onto renters. It needs to be illegal for a corporation to own a single family home.
Organizations (banks included) are buying up these private homes, over paying and then raised rents on the struggling workers forcing them into homelessness.
Politicians know this and they get lobby money to do it on purpose
How so? A natural person can form an LLC and own a home
@aandagape Yeah that shouldnt be a thing. Only Americans with a SSN or long time legal residents should be able to own single family homes, and there should be a cap on how many. That prevents mega corps from forming endless LLCs to obscure ownership.
@@jer1776 im not a long time resident. A few months maybe. Own 3 properties and buying more. It is my right.
THIS IS HAPPENING ACROSS THE COUNTRY! WE NEED TO FIGHT THIS!!
Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided. The most important originators of communist doctrine were Karl Marx and Frederick Engels.
Time for Americans to grab several books and go Marxist.
How we can even put the right people in power, republican and democrats all the same, they got there ,keep playing the rest of us.
Who is selling? There’s hundreds of houses to these investment companies?
A major crisis that mainstream CORPORATE media ignores. I wonder why..,
Great video, you’ve package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thanks for your efforts to be the signal and not the noise. I understand that the world economy is currently in a downturn and that we must wait for the market to recover in order to break even and make great profit returns.
As hard as it may sound, you can plan for recession. If you’re working, find extra work and also get a financial advisor. Protect your deposits by having enough cash in short term fixed income, cut down your expenses, utilities and minimal insurance.
That’s why I always make it a point to speak with a financial advisor before choosing any investments. Apparently, I’ve been using one since the pandemic, using profits oriented tactics and minimizing risks as a buffer against inevitable downtrends.
In addition they have valuable access to insider knowledge and analysis, making failure virtually impossible for them. I’ve made over $1.5million passively working with John Desmond Heppolette, my advisor for over three years now.
Your financial advisor really seem to know this stuff. I found his online-page when I made a google search of his full names online, read through his resume, educational background and qualifications, it was really impressive. I left him a note and booked a call session with him..
It’s unfortunate most people don’t have such information, I don’t really blame people who panic cos lack of information can be a big hurdle. I’ve been making more than $65k passively investing with John Desmond Heppolette, and I don’t have to do much work. It doesn’t matter if the market is crashing, I will always make good profit returns.
We need a law in America prohibiting companies,corporations,banks from buying and renting houses and property.
If you do the research you will see that the federal gov is actually the one who allowed and approved it.
No, we need ABOLISH the landlords. If you're renting, the landlord isn't providing you housing, they are making YOU buy it for them! Imagine if someone forced you pay to for their groceries every month? You have to buy their groceries, but they get to eat them? You'd be furious. However, that exact scenario is allowed when it comes to housing. You pay for it. They get to own it. You busted your ass to pay their mortgage, but it's their house? You can be damn sure they aren't holding down their own 9 to 5 to pay for it. You could spend enough on rent to buy two or three homes in your lifetime, but not own one yourself. How is that fucking justice? Rent is just legalized slavery.
If I own everything you need to live, then you are my slave. It's that damn simple. That's capitalism. You don't have just one owner, you have thousands. They all own a piece of you. America was created by wealthy landowners for wealthy landowners.
So much for a right to property dragon. Please take a minute and read our constitution.
You do realize banks and corporations already owns/fund everyone's personal mortgages, right?
Can we remove the government from telling us what to do with our homes
This fight needs to happen nation wide.
What fight?
What fight?
What fight?
The next housing crisis with bankers getting rich
We need to start burning investment properties down.
Its so weird seeing actually good reporting. Incredible job!
I don't even live in Ohio, but the reporter, Lisa, did a fantastic job at covering all angles, keeping reporting succinct, and taking it a step further by contacting sources for comment in advance and incorporating them into the story. Not the usual topical reporting I'm used to, more like a condensed 60 minutes report. I'm really impressed. Kudos Lisa!!
60 minutes is trash now. This report was excellent by comparison.
This is happening all over the united states and the world
Never should have allowed corporations to own single family homes.
Home ownership is an illusion. It really comes down to cutting out a middle man. People can call property taxes taxes all they want, it’s still a form of rent seeking behavior just from the state.
You mean we should have never allowed a free capitalist society?
Bank are corporations, they own houses but at least they sell them to people not rent them
Never should have decided that corporations are "people" either.
so if you decided to move or job transfer you to another state and you cant find a buyer for your house you rather be forced to keep it and keep paying for it than sell to a company?
This is already happening all over the US. A family friend put her house on the market in Florida and within 24-hours she received an email from a corporation that said for every $1,000 that an individual would offer her over the asking price they would offer her $10k. Right now people are outbidding each other to try and buy a home but in this case no one can compete with a corporation who can offer 10 times the amount. The middle class is already becoming extinct unfortunately
This is made up. No one would pay 1,000% - that's not profitable.
I hate socialism and communism. But.. Eat the Rich
Yep.......enjoy dystopia
We'd been sold down the river by our elected officials. They're better off for it!
I hate this episode of black mirror
I noticed this trend about 25 years ago in the college town I live in. I had an apt near FSU’s football stadium and the single family homes in my neighborhood that were once occupied by families were being purchased by companies and rented to college students paying $500 a room. Hundreds of homes are now rented by the room which keeps families away. Within 20 years the local elementary and middle school in that neighborhood shut down due to low enrollment. Half of the teachers and other school staff lost their jobs bc there were not enough positions open at other schools.
Wooow, I never knew that was going down in that city. I live in sowega & visit that city often & never knew that was going down. I’ve always wanted to move to that area because i like that city because it’s big enough to always have something for me to do & the traffic isn’t as bad as big cities like Miami or Atl. This puts things into perspective!
Damn should have bought into it you know? I wish I was granted an opportunity like that.
Yes, sadly politicians and the media are waaaay behind the corporate, money grubbing, greed monsters destroying our towns and society. Nope, just blame poor people and homeless people, right??? Don't look up!!! This has been happening since the 2000's.
So this level of greed and property monopolies negatively impacts the entire community
We made sure we sold our moms home to a local family. No investors. If you are a homeowner, I encourage you to do the same.
One of my parents neighbors did this. She could had sold to an investor and got a larger amount. But wanted to go for a family. The family who live there now were glad for the blessing
My house was a FSBO between me and my former long time landlord who was a good man . I appreciate what he did for me and my family. I am a mom and grandma .
I would sell to who ever makes the best offer
@@KyleAtkins-cv2shand that’s the issue people think money is more important than humans. As long as I got my share of green who cares? But what happens when those coins can’t get you a decent home in the place you wish to live? What then ?
@@Moniece444 maybe rent from some one else …
First time a reporter actually addressed RUclipsrs at the start of the segment. I applaud you.
I think cable news sees it can have a space for good reporting on RUclips as people get away from cable packages.
It also allows for reports to be as long as they need to be to deliver information as opposed to editing it down to fit the evening or late news in between commercials.
Good reporting? You didn't seem to miss challenges to the tax hike guy regarding negative ramifications or asking who is selling to corporations. What happens with rent control? Any insight into rent control tried in other places? This was a report meant to lead you to a conclusion.
@@jdog22c34 Yes. Good reporting.
It's not a documentary, but it's a story, with facts being presented, to show a perspective. It doesn't have to be unbiased as long as it's factual. I guess you _could_ do a story on the harms this presents to...the...mass house-buying to rent industry?
Besides, as _a_ biased statement, why the eff would anyone care about massive corporations that milk the middle class into a situation where they can't afford homes despite working full-time work? There's not much of a story there: you use financial leverage of billions of dollars in capital to buy the American Dream and have people subscribe to it instead.
I feel like your questions imply that there's another point or other valid stance, but you failed to make it. Instead, you said "What about the other side" and left it there. That's not a good argument, and I'm pretty sure there's a logical fallacy you made in it.
I did two #CapriceAndElla miniseries which tackles the Affordable Housing Crisis.
Last year, I did an 11-hour 15-part miniseries titled #BreakingBoilingPoint and this fall, following up with a 5.5-hour nine part sequel #BreakingBoilingPoint2 #ARentersRevenge. Filmed in Fort Wayne, Indiana.
@@SocioromanticismFEEL
Never sell your home to an investor.
Cue a new business, where actor couples front like they are buying for themselves, when in reality they are paid by a massive corp.
Wrong! The solution is to tax the corporations at a higher rate.
@@user-dw1ls3rp1l Yeah. Businesses are such geniuses. Except, investors do cash only deals and low ball home owners. No amount of acting is going to hide that.
I sold my house to a young woman at her wit's end trying to find something affordable. That is who you should sell to.
She now has a pile of equity because that was in 2019. And the house I bought has a pile of equity. Everyone won.
If I'm going to sell my home, I'm going to sell it to an investor.
2 reasons
1. They have money to buy
2. They're going to give me more than a single family will, 20-40% more.
If I want to sell, I don't care who buys it.
This is what true local reporting is. GREAT!!!!!!!!!!!!!!!! Please keep up the phenomenal work. I breezed through the 14 minutes.
I own a home on a street of 55 townhouses. Over 50% of them are rentals now (not owner occupied) and half of those are owned by landlords (investors) in other states, LLCs or large investment corporations. Nearly impossible for a young family to buy one as the investors rush in with all cash offers, fast close and many cases no inspections.....every bonus a seller wants when selling to they take the easy route and sell to the investor.
I live in the belly of the beast (California) and this reporting is so spot on. I don't know who this reporter is but she's a national treasure for doing real journalism.
Fellow Californian, age 31 still living w/ my parents so I can save money. Planning to move in with my bf soon and splitting the rent on his $3k 1br SF apartment. My mom had 3 kids and a home by my age 🥲
@@Cash4Fruit we're all trying to figure out how to survive this. I'm 34, and my wife and I actually got some relief by purchasing a tiny house on wheels and parking it on my sister in law's property. We've been able to save up a hefty sum and plan on moving out of state since you can't buy anything here worth living in for under a freaking million dollars. Things were going good until recently a new neighbor went full Karen and reported our tiny house as an unpermitted ADU but the thing is the planning office in our city has no idea how to even permit this thing because the city has no regulations that cover tiny house living. We're working with them to sort out the situation, and hopefully help them create some new guidelines but man, my parents never had to deal with this kind of bs just to live.
It really do be the belly
Stop selling to investors
@@Cash4Fruityour fault… my husband and I are both 23 and are buying a home in the bay. We’re both from Africa, I’m first gen and his parents came to America just a few years before he was born
Laws need to be passed to stop corporations from buying single family homes
Too late...Blackrock has already been buying whole neighborhoods in several states.
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
This will never happen. This is a permanent new order agenda to enslave and impoverish the 99%. Until we stop being sheep and revolt against the leadership, this will continue
it never ceases to amaze me the stupidity and lack of education in the comment section
You voted Republican....and now you want big government to help you? LOL.
My LOT LEASE for my Mfg home in Davie FL is $1,251.55 monthly‼️
When I moved in in 2019, it was under $800.
This 1978 home was a dump when I moved in, and it actually made me sick to clean it out and make it acceptable to live in.
I wrote a letter to my congresswoman in 2020 imploring her to spend some effort fighting for her constituents to keep housing affordable.
She’s responded with a letter that basically brushed me off. Pretty upsetting.
If you have an HOA, look into restricting/prohibiting home rentals with your CC&Rs. This must stop!!
Yep. You'd better do it before they have enough homes to control the vote
As much as I hate HOA's this isn't a bad idea - but that also still puts poor people in a bad position if all these neighborhoods can't have rentals at all so... 🤷🏼♀️
When housing became something of greed instead of housing our fellow Americans, this tragic problem was created.
Agree, would also add when people started to look at their homes as investments rather than a home things changed. The home equity loan, for example.....when did that become popular? I don't recall ever hearing that term growing up (I'm 65) until in the 80's. Back in the day people left the equity alone, just paid off the house. Now it seems people tap it quickly and often to buy stuff they are TOLD they need (the banks encourage it!).
@@kendallevans4079 thank you for your response back. I am a school teacher and my wife works for the schools (certainly do not have jobs where we are rolling in cash), and we have made it a goal of ours to do everything we can to make sure that younger generations will not continue to be victimized by housing. While we might just be two people, we are hoping we can help in anyway we can.
@@themcadamsminute8494 Good man! It's a different world than what our parents gave us. The younger generations will have it even harder. Not sure where we are headed?
@@kendallevans4079 thank you so much for having this great convo!
And “we” (not say you and I of course lol) have failed the younger generations because of these costs. As Americans, that has always been the one thing we prided ourselves on was being able to own a home and support our families. It’s been the backbone of this country no matter if one is rich, middle class, or poor, having a place to call your own was always a sense of pride. Renting diminishes that a dream.
Renting use to be a way of establishing a form of savings to buy a home with it being an affordable way to live. But now renting just tantalizes people by just always having enough to get by, but nothing else…
It started when the investment banks and hedgefund corporations paid no consequences for the economic collapse at the end of 2008. At the end of the Bush Jr/ administration. Instead of consequences they received a TAXPAYER PROVIDED GOVERNMENT BAILOUT under the guise that the 'world' would IMPLODE' entirely if those INSATIABLE GREED-DRIVEN entities had to pay the price of their contemptuous despicable SELF-SERVING SELF-ENRICHING crimes. The housing market collapsed. People lost their homes. Their savings. Too many...their dignity. Entire cities suffered. And on and on. That's why we're where we are today. There's NO ACCOUNTABILITY. NO CONSEQUENCES FOR THOSE WHO PRIMARILY BENEFIT. NONE.
This is f'ing unbelievable. Can't even consider buying a damn property anymore. This is insane.
This needs to go into effect! We're literally getting poorer and further from homeownership yet corporations are allowed to make such a damaging impact on those who reside in the cities and communities theyre buying up hones in.
It's a sad shame that the American Dream of owning a home is slipping away very quickly
Living in this country gets more depressing by the day, no wonder so many people are angry and fed up. It is just one thing after another popping up seemingly purposely designed to keep hard working people down and feeling hopeless and there seems to be no end to it. Money is now God in this country and if you do not have bunches of it, then too bad because no one in high places cares one bit.
Yep. Corporations are going to be the death of this country, and I mean that literally. It can only take so much before it crashes. And our representatives in Congress don’t even want to raise the minimum wage from $7 per hour 🤦🏻♀️
My family member said this exact thing yesterday. Corporations rule America. Citizens do not.
Too bad we’re letting culture wars separate our anger at the rich, and turn it on each other, but I do understand that that means you can’t hold anyone down, so as long as someone is being oppressed by another group there will be wars.
Oh you haven’t seen nothing yet. Read King James Version Bible the book of revelations.
@@OK-pi6fqding ding ding. You hit the nail on the head.
A free market isn't free anymore when 99% of the population can't compete with corporations. This is ridiculous. We should not allow foreign investors to buy up local hosing markets. A *massive* tax should be placed on these guys that goes up even further for every house they add to their portfolio. That money could get funneled into more housing projects so that supply can increase and withheld from their grubby hands. Last time I checked, there weren't groundbreaking updates the the things that make up a home. Why do people have to spend the majority of their diminishing paychecks on renting shit homes that were stolen from the average citizen because they could outbid them?
Reduce new home building and increase rent
Foreign entity’s shouldn’t own any land in America
None of that is going on.
Doesnt fix the problem. They just make more LLCs. Republicans won’t go for this. Republicans will kill any laws made to stop corporate creed.
Yet, corporations are people according to our Supreme Court!
What's crazy is that this has been going on for ages. Many BTR communities have been popping up across the US since the early 2000s. Like many in the comments have said this certainly isn't unique to Ohio. Over the last 20 years many have been built everywhere across the Southwest/Southeastern USA primarily in suburban submarkets in areas like Georgia, Tennessee, the Carolinas, Texas, Arizona etc. Its one thing to have mom and pop landlords who own a portfolio of rentals, but when you have foreign wealth funds and institutional players commoditizing the main wealth vehicle for the middle class, buying 1000s of properties at a time, there should be legislation in place. Lets not forget these same greedy scammers caused all the bs we saw with the MBS/secondary markets that led to the 08 collapse. How did we even get to this place? Why is it that now we are starting to see lawmakers making efforts, when they should have ages ago...The American taxpayer has long been the scapegoat of the people at the helm of ship, footing the bill for all the institutional f ups since the dawn of ages. There are many sides that are complicit to the situation not just the builders, everyone has their hands in the pot. Many of these companies building these BTRs aren't even holding the communities, they are simply building them and pushing them off to institutional investors for long-term holdings and building more, rinse/repeat. All while those at the top play monopoly with the American people.
Politicians and media are always behind on stopping scams. Republicans support the scams and help the corporate money grubbers scam their constituents. And they still win elections....Wow
Amen. .However the mold of REIT s..Real Estate Investment Trusts is Set & Locked in..
After the 2008 crash, the government went to institutional investors to sell off foreclosed properties in bulk to help the economy. At the time they were even getting stimulus funds so it was free money. Loose money policy since kept fueling them.
I was born and raised in Cincinnati. I’m 27 and still live here. My city has grown so much in the past 7-10 years and I love that for us but The housing here is so crippling. Landlords are charging $1000+ for the same units that were $700 3 years ago with no upgrades or added amenities…and they could care less about the state of the economy. I come from a middle class family and we’re all feeling the repercussions of this.
This is happening everywhere in the US. At least someone is trying to do something about it in OH. It is really sad what the housing market has become everywhere. Rent is out of control.
It's not the Governments job to meddle in businesses thats the free markets job.
@@zangetsudx1yes it is! Corporations need to be regulated!
@@advocatingforautism8625No. My wife and I want to start buying rental properties in the future as a business. We should be encouraged to engage in the free market, not punished.
@@zangetsudx1Agreed.
@@advocatingforautism8625 No its not. You clearly know nothing about the Government, US Constitution, and our founding fathers. I advise you to go educate yourself because all you're doing is making yourself look stupid.
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
― Thomas Jefferson
That's why they call Andrew Jackson a racist, he was the one who fought the banks and won. Civil War was shortly after. No coincidence right?
But our overlords don’t want us to know this. We’re only to know him as a slave owner.
the shit system is rigged/hijacked , they dont want any changes because its in their favor to keep it this way. Like the indian chief said, a nation born by deciet will die by deciet.
@@brainwashingdetergent4322 Do not blame the overlords for Americans ignorance when so many are willfully ignorant and proud of it. A simple book and the balls to actually read it and come to an understanding of it is not the politicians fault it is the parents and the communities who are hell bent on nationalism and not humanism. People have to be held accountable for their own self induced stupidity. Thomas Jefferson is not the first or last person to warn of the dangers of a central bank. You understand the implications and I understand and so do many more Americans......so if you do not understand ....its because you want to be willfully ignorant.
@@brainwashingdetergent4322💀
This is sickening‼️
Very!
It’s not just in Ohio. It’s bad in Florida. So many homes are going up for sale and then bought by these companies, and then rented for 17 $1800. That’s why Florida just dropped to the number eighth state to retire. The cost of living here in Ocala is skyrocketing and the jobs are still paying 10 and $11 an hour. My neighborhood has so many brand new homes that are rented. And quite frankly is bringing down the value of the homes of those of us who own ours. Plus, when does do not take care of the property and the landscaping as well as homeowners do. It’s just become a big problem all over the country
Exactly I live in Ocala I miss the slow quiet times, they say 1000 new people are moving to Florida a day that's crazy, the new apartments prices are ridiculous, they are building them for the new residents
My neighborhood is ruined because of out of town investors. Renters are in and out. There is no longer a sense of community. My home was violated. Something must be done immediately!
So how about getting together with others in your neighborhood and buy up properties so you can control who lives there?
@@bobroberts2371Who wants to invest in real estate with their neighbors?
@@bobroberts2371 Not everyone is rich, genius
@@tokhote Greedy rich are people that have more $ than you. Guess what people that have less $ than you think?
@@broseywales5538 People that are complaining that " big " corporations are buying up all the property perhaps? This way they can control the neighborhood.
I grew up in Columbus in the 1970s. Back then, only a small percentage of homes in any district could belong to people who didn’t live in it. Politicians talked about the importance of families all owning their own home. It makes a HUGE difference in a community.
But now the WEF wants you to own nothing so THEY with be fat, rich and “happy”. They’re monsters. IT’S TIME TO PUSH BACK!
Agree, huge difference! Rarely will a renter take care of the property as a owner would. We have a few renters in my neighborhood and you can tell....small details like flowers etc...
@@kendallevans4079I wish I could take care of the house I rent as if it were mine, but rent is so high that we can barely afford food after bills are paid. :(
Be careful what you wish for.
Well if you don’t like rent then you don’t like the US government. People that own land in the US and many countries pay yearly property taxes, don’t pay and get your property taken away. We already don’t own anything. If you want change get rid of government.
In the 70's the banks would rarely loan for non-owner occupied properties. Mom & Pop landlords had 1 or 2 rentals & they were hedges against inflation. The govt took away that 'hedge' during the C-vid. Rent was optional. Some LL, especially in the blue states, LOST their property due to the no rent mandate. 😞
This is a national problem. It has to happen. California needs to act as well.
Vegas too.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth..
I pay monthly in this order.. tithes, myself, and then bills. I have my investments, savings and emergency savings automated so I don’t have to worry about those. I am then able to have my wants and I always have money left over because I am debt free! Praise God!🎉❤
Forex/stock is the best investment anyone could get into. As it could make you rich in a blink of an eye. it's not recommendable to go into trading or investment when you don't know how it's done,
Investing with a good guide is the best way to get started in the trade market. would free you from modern financial slavery....
@@mianortum😮really??
I've always wanted to invest in stocks but was always discouraged. I wanna start now,
Would it be okay if I asked you to recommend a specific advisor or company that you used their services? Seems you've figured it all out.
@@agnescarteryes I usually go with registered representatives. ''BRITTNEY ROSE COHEN" for example has the best performance history (in my opinion) and does offers 1v1 consultation to her copiers which I think is amazing. I don’t know how many traders like that are there.>
You know whatspp right?
👇 Take note of this digits ....
To be one of her good student.
Kudos for making this not about NYC or California. And for closing some loose ends like false induced demand that these investors trick the market into.
The 'market' (stocks) are owned by a very small percentage of those WHO PRIMARILY BENEFIT.
In addition, any problems with California/NewYork, they always say "You get what you voted for." If a city wants to solve this problem, they just need to levy heavy property taxes on non-owner occupied residence to the point where there is little to no profit.
Agreed. Ironically, venture capitalists profiting from this predatory behavior probably live in NY or CA.
As someone from NYC, please know they test garbage buisness plans on regular people in cities before they spread it to the rest of the country. They got us distracted by culture wars while they pick the pockets of the middle class. Consolidation of power and resources without giving back helps no one. We gotta fight corporate takeovers in housing, media, food, transportation, everywhere.
@@Maliceless100 You mean SF, LA or NYC. The majority of NY and CA are working-class people and laborers. Most of CA is rural and living pay check to pay check.
This is excellent journalism! This is part of the real issues that normal people care about and thank you for doing a segment on the matter.
No wonder I barely hear about this issue, it only effects the average person! LOL
Happening in Dover Delaware. A huge group of houses are being built and they are rent only. I could not understand that but now I know why.
This needs to be talked about more.
Adding a tax to businesses that own more than 50 properties will Not work. They’d keep 49 and create a second business.
No number if you consider the hypothetical you raised. Just multiple llcs.
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
We just need to restrict single family homes for exactly as it’s named - single families.
Yes it will, because people won't make enough money to rent them
I'm an investor. I invest in large apartment complexes because that's where I believe investor money is better spent and better for the community to build housing density because it's too expensive for a single individual to do so. However I agree on limits to LLCs. I'm thinking a cap on number of LLCs per SSN and a cap on single family homes per LLC. Multifamily homes housing with more than 2 units are excluded from the caps
Houses are meant to be owned. Citizens are not born to be forced to pay corporates for 80 years and then die
"You will own nothing and be happy"
Oy vey how antisemitic
Not if corporations are people have something to say.
Only if you can afford it.
This has happened all over Tampa and we are being priced out. Families can’t buy homes and rent prices have tripled in some areas. It’s asinine and predatory at the least. It needs to be made illegal.
I don’t live in Ohio, but the same thing is happening in my state. My husband and I are currently renting a house for $1695 a month. 2 weeks ago we experienced a heat wave in our area. We called the rental company. They sent someone over and that person determined that we needed another unit. They told the company what was needed. The company made every excuse. They said the owner may not be able to afford it 😒 (did I mention that we pay $1695 every month ON TIME?!) Then they asked if we could use renter’s insurance to fix the unit that the OWNER is responsible for fixing. We got a lawyer involved who took 3 days to tell us we didn’t have a case bc the owner decided to schedule the unit to be fixed today. That’s 13 days with no air in the middle of a heat wave. Come to find out state law gives owners 14 days to fix the issue. Screw the renters with 2 young children who pay their rent on time. They sent 1 window unit for an upstairs house.🙃 They NEVER apologized. They only continued to make excuses for the owner who we discovered lives in San Jose, California in a VERY nice home. This country may as well stop talking about that American dream. They only expect it to apply to the wealthy. Smh
Does not matter where you live we must stand together and fight BUILD TO RENT!!! These investors need to stay out unless they are building affordable homes people can actually purchase not rent.
Nope. No. Not all. Unless you’re interested in doing away with ALL residential landlords/investors.
No single entity should be able to own more than 5 single family homes, not without significant additional taxes for empty units.
@@Iquey Not taxes. Period. Nobody should own more than two, fullstop. We have the taxes thing in FL. All it accomplished was having the highest rent increases in the US as the landlords just pass the cost on.
What about the retirees that are counting on their investments in AMH to fund their retirement?
all levels of gov are to blame. greed as gotten out of control and we need to unite to stop them.
they voted for this
@@n3wtvotes don't do a difference, it's just to trick the people to make them think they have control
This comment is a relief. I agree !
Our small town passed zoning laws that limit the number of rentals in blocks and complexes. They also require permits for landlords and inspections. The realtors are notified of capped limits so they can inform potential buyers when a house may not become a rental. Starter homes are still affordable here as a result. Many otherwise renters have become home owners with more connection and interest in their community. Most new builds are nicer homes which opens up more starters and it keeps the tax base stable.
That needs to happen nationwide
Nice!! Where is this snall town located?
Can I ask what State? We need to to that in NH!
Sounds like fairytale
Good solution!
People need to STOP selling to corporations.
The worst part about it is no one is going to do anything as long as pockets are being lined with the cash
Rooms for rent in FL are hard to find for less than $800/month
Absolute insanity.
You mean a room in a house?
@@deemen7132 yes
Move somewhere cheaper. duh.
$800 is for a sofa. try $1200 for a room
@@Notme-tq4xs Right... because it is that easy to leave your job and move all of your stuff to another place ... sigh
Thanks for covering this, Lisa!
Finally we are talking about this!
Across the country! Give ownership back to WE the people
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
Kim Jung Un approves of your message, Comrade
Reported Spam
Then start with Government by removing them from everything in life.
Go buy it
Don’t look now, but “the middle class” has already been gutted. And yes, it’s intentional.
it is, we need a revolution
Wrong. Actually look at the stats,the middle class is moving up into upper class. Your comment proves that you don't actually do any research or reading. You just listen to talking points.
I think you're correct.
@@TM-173We need to begin to take personal responsibility for our own lives. Learn to discern between actual NEEDS and WANTS. Get out of personal debt. Stop using credit cards for 'wants'. Take your life back from those who are PRIMARILY FINANCIALLY BENEFITING. It takes determination and discipline. Think outside the superimposed box.
@@NeerdowellofyesteryearNonsense.
This was a very well put together segment, thank you.
I love your program. It is well thought out and put together in a very consistent fashion. I'm from the Carolinas and many areas are very poor. Many of us can't afford to own a home. It's sad that greed has spread so far and wide in this world. No care for the struggling people. We need to stop all this selfishness and greed. We need to take better care of ourselves and our neighbors.
Everyone needs a home.
Nobody needs a landlord
You clearly dont know a lot of people who like to rent, and have no interest in home owenership. Let me guess, youre a child.
Absolutely disgusting business model. Great job by this reporter.
@bbabbich3467thing is, we need to resist company bailouts for when the consumers can obviously no longer afford them. The corporations made their choices, let them suffer the consequences. Free market, right?
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
Thank you for telling us this🙏🙏.
Yup Americas home for rent owns half of the single family homes in my neighborhood. It’s so beyond frustrating. Something needs to be done
Every person who elects to sell to their house to a cash corporate buyer rather than an individual with a mortgage is personally responsible for this crisis. It is being fueled by greed and fear.
No it’s not the sellers fault. It’s the governments for not regulating this bozo
@@avacadomangobanana2588 There’s plenty of blame to go around. Sellers, in most cases, have a choice. Just like going to a cashier vs. a self-checkout we all have parts to play in making sure the system favors people over profit.
It's going to take people destroying the corporate own homes for things to change.
But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
I was forced to sell after being laid off by my POS boss.
We need to limit corporate ownership of single-family homes. It has gotten to the point where corporations can artificially influence the market, in order to keep rent and home prices High.
We need to limit the number of rentals, period....
Not limit, ban.
@@user-qr7ee2cp4y Renters tend to be poorer than buyers. Banning rentals is a regressive policy that shrinks the rental supply at the expense of renters. We need to abandon this 1950s era suburban experiment model of home building. The needlessly restrictive zoning rules are restraining the housing supply and causing a shortage.
Let’s limit the ownership of everything you personally own too 😂
@@theundone777 yes, indeed. The problem.
As a californian, and a citizen of planet EARTH, me and many people are watching with great interest. We routin' for you guys, viva la Ohio!
Much respect. You really went there.
This falls exactly in line with the WEF’s “You will own nothing, and you will be happy” push.
When it cost more than 1000 a month to live in the worst areas of town, there is a huge problem. AMH needs to be destroyed. When shareholders matter more then people living there is a problem
Individual investors do the same crap. I’ve got a neighbor who owns 10+ rental properties and the one next to me (I can’t speak to the others) is not maintained and renters are often a problem. The neighbor knows very little about houses or maintaining them - just how to print money with investment and wreck neighborhoods while doing it.
The crackdown needs to go beyond institutional investors.
So you take slumlord and generalize mom and pop landlord as pest. Because of such narrow and bias agenda people stay poor. Blame everyone,ban everything. It never works offsetting extremities with extremities, study history
They need to break the corporation monopoly
It's about time they do something about this, I'm in Ohio and have been trying to buy a home for 7 years and everytime you see one for sale it's gone before you call and it's sickening!
Wow
I really feel for you.
How did you react when market exploded in 2020?
All that time you spent saving and preparing for a home buy, just to have the price double.
Buy land and build
@@ForeverYoung-fc3eo Maybe out in some wilderness, but not in *any* suburbs *anywhere* . That advice was _maybe_ good in the mid 1900's, not now and perhaps never again.
Tom's wife Pam
@stephanieellison7834That’s easy to say online, but I don’t see you doing anything.
First off, no person NOT an American citizen should be able to buy property in the U.S. second off, corperations should NOT be able to buy residential units.
It wont solve everything but it will easily fix alot.
Please keep this going!
When we bought a home in 2021, we got out bid for 8 move in ready homes. We had to buy a fixer upper and spend 10k to clean it up. The house we were renting went from $1600 to $2500 a month. We get three or more calls a week offering to buy our home!
We need to make foreign buyers from buying up US land as well. Corporate landlords will hold you by the nuts.
Too little too late pal. You guys let the the Saudis run amok since the 80s. 😂😂😂😂.
@@milehighgamblerI think they are already rich country so making money to buy land is probably not their agenda. They probably buy because their country doesn't have the natural resources because they live in a desert land
@@lot5953 same difference. That’s still land not readily available to Americans, but I won’t cry too much considering yeehaws in this country gladly let corporations buy up housing to rent out and siphon money out of lower class Americans. The USA is nothing short of a circus, but it’s because capitalist yeehaws have let profits always take place before the very people they claim to care about.
Why stop there? Let’s get rid of all landlords. They’re leeches. 🤷♂️
It's mainly Chinese companies who are LLC's' out of Delaware....buut there's not much open info on it, just like the LLC that bought all that land next to the military base in California.
A rental housing community is being built in Ft. Wayne, Indiana also. It’s not affordable. Something needs to be done. Houses should be for residents of this country, not investors! My husband and I wonder if we will ever be able to afford to move out of our 875sq Ft. starter home. We are hard working millennials…I’m a teacher and he is in manufacturing. It’s like crippling debt and evictions are the American dream now. We have no choice 😔
@bbabbich3467 yes we actually think that’s what we will do if prices don’t come back into our range. My husband literally does everything…electrical,plumbing, landscaping and gardening. He just needs to find a way to afford to quit his job so stuff gets done at home 😂
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
I live in Indianapolis and they are popping up all over the city and the burbs.
Dont move, we cannot trust the market
@@emilee0221Good for you guys. Think outside the superimposed box. Stay out of debt.
Share this on social media guys this needs to go national
Land is considered sacred in most cultures and in most ages. Those who control the land have the ability to control those who live on it to some degree.
🐈⬛👀
"For the ownership of the land on which and from which a man must live is virtually the ownership of the man himself, and in acknowledging the right of some individuals to the exclusive use and enjoyment of the earth, we condemn other individuals to slavery as fully and as completely as though we had formally made them chattels." - Henry George
@@ChipChapChopexcellent quote. The country is becoming a feudal state and we are the fiefs. God help us if Trump regains the Whitehouse because he’s fascist if ever there was one.
Yes this is happening everywhere and people better wake up before it’s too late.
To late !!!!!
It is already too late,
@@delfordtooleylinda1178 it isn’t. We can follow many examples of legislation being passed to combat this. Look at Georgia and how they are cracking down on foreign and corporate landlords. Also here in NC they are changing zoning laws to allow for more residential development and less commercial. It’s going to take people to shift their eyes away from the distractions and really wake up to what is happening in their communities. As it stands today, roughly between 22-24% of homes are owned by corporations. 93% of those homes were in predominantly black neighborhoods. Let that sink in. It makes sense to go after the most vulnerable demographic. Less resistance and less support from other communities. So while they set their sights on ALL communities now, we will continue to see this trend until it hits folks hard. The Democrats have already proposed some laws in congress but it gets shut down bc Americans care more about Trump, Hunter Bidens drug addiction, and silly things like trans and LGBTQ people. Not to mention the lobbying of these very corporations buying republicans like they are fresh off the shelf. This is what being “WOKE” means.
Yes they are trying to monopolize in the Charleston area to. The worst company raise rent every year! When you move out AH4R find crazy fees to charge to keep your deposit.
They are even buying new builds before they hit the market...straight to rent. First time home buyers are squeezed out of a reasonable starter home.
It's already like this in Jacksonville, FL now. There are quite a few zip codes where more than half of the low-value homes are owned by corporations and turned into rental properties. This is a sad situation. Fifty homes is too high of a number; it should be something more akin to 5-7 homes. These properties are not taken care of by renters and even worse the corporations do not invest any money into the properties and they continue to decay year after year while the rent keeps rising year after year.
Venture capitalists are buying up industries everywhere; they cut costs and raise prices and kill competition. We gotta vote for the people who'd write laws to protect us.
They only spend when they are forced to. However if your house was funded by HUD, the federal government will sue your landlord on your behalf
Yeah, when I heard the number "fifty" in the proposed bill, my jaw dropped. 4 or 5 is already more than enough for a single county. wtf.
Tampa has this problem too. Nearly 40% of residential housing (single detached, condos, what few townhouses Tampa has, even the bloody mobile homes) are corpo owned now.
I was looking for a comment that said exactly this, 50 homes is too much the legislation won't do anything even lowering it to 25 would help but it still wouldn't make a dent...
If “affordable housing” isn’t possible, then who’s going to rent the unaffordable homes?
They’re not telling us something. 🧐
Part of it has to do with bank loans. These companies "cash" purchases aren't actually the companies' money: it's money they got on loan from a bank or from investors (who got their money as a loan). Because these loans are justified based on asset valuation, it's in the companies interest to keep housing off the market even if no one can afford to rent them, because glutting the housing market with properties devalues their assets and reduces their ability to get loans or demand rent from the properties they are renting. These companies very rarely ever buy things with their own money: it's all about how much in loans they can get from the banks, either to purchase assets or to pay off other loans they took out. The rent (if the house is rented) goes straight to shareholders.
"But wait, how are these companies paying off the loans!"
Well, that's where the investors come in. =p It's called a pyramid scheme. The good news is these inevitably collapse, but not before they do a lot of damage first.
@@SkySong6161
Yeah. That’s exactly what’s happening in China.
But there’s s still something they’re not telling us.
Let me know if you hear anything that the LLC’s and bankers only talk about in their click circle.
@@AConcernedCitizen420Don't you see the investors are in China. Look at what has happened in San Francisco housing market the biggest owners are Chinese, going up on the rent of Americans and evicting them because they want tech workers to move in. Well, most tech workers are from India. My son has a computer science degree but most tech companies won't hire him because the Indians overseas are cheaper. He is in $100k of debt just to take a job as tech support for at&t wireless making $15 an hr.
"affordable housing" is a con; of course a company would prefer to have high occupancy and a continuous cash stream to a house sitting empty that would incur only costs. to a good approximation, all of the housing and rent costs you see are "affordable" but that doesn't mean that anyone can afford any property.
This should be put on every TV CH. in America till people realize what our country is enduring!!!Wake up AMERICA 🇺🇸 😑
In the Southwest and California, and likely everywhere - it's not just the corporate ownership of housing. It's also the Airbnb market. Home owners are opting for high paying temp rentals over ongoing renters.
Lack of compassion is not a bug in corporate capitalism. It is a feature.
This is disgusting. Corporations and the government are destroying the middle class if it even still exists anymore. I have a trade job that pays decent but can’t afford a house. I’m actually leaving the states soon with the wife and our money gets us way more over seas.
The government IS a corporation
Hell my partner and I work in tech and we still can't afford a home here in washington
@@jynxbot352that place is overpriced. Get outta there.
@@happyinparadise7812 why stay away from gringo enclaves?
Spoiled American views. Good luck wherever you want to live. Someone said India?? There's a reason American companies outsource to India. We pay them peanuts. The standard of living is trash compared to the states. Want to fight this? Invest in these companies. Get 20% returns and go buy whatever you want.
They’re doing the same thing in Charleston SC area. Buying up homes and renting them out.
I would fight against this too. Houses should be built for OWNERSHIP, not strictly for renting.
They need to slow down the purchase of these homes. There used to be a law provision (think it was under Dodd Frank). Which prevented cash investors for the first 2 weeks after home is on market, allowing single family purchases. This provision was removed arund 2019, assisting the huge rise in predatory investing.
Yeah, thanks to your Republican politicians, Dodd Frank and Glastegal was slashec...
it was removed because it didn't work and it isn't fair anyways
@bsmiddy236 and this mess is fair? Ha!
@@SixteenVoice what mess? and yes if I was selling my house and knew that cash buyers were locked out for two weeks I am just going to wait two weeks for the time limit to expire.....as well as who has the right to tell me who I can and can't sell too....and how does it make any sense in a free market to tell me I am being penalized because I have cash. It is typical liberal lunacy
@@bsmiddy236nobody gives a Fuk about the free market anymore....except "you people".
First Key Homes tried to raise my rent from $1700 to $2200. I didn't renew the lease. DO NOT RENT FROM THEM!
I'm glad I didn't. I showed up for the house walk through and the agent never called. Lol thank Jesus
It's become a massive problem here in Arizona
A corporate landlord in my area called First Key Homes charges nearly $4000 a month for a simple 3/2. They have driven up rent prices all over the county.
All of these development companies and Real Estate companies realized that having forever rental properties is guaranteed monthly income on their balance sheets. "You will own nothing and be happy"
People need to learn from the 1930's. Tent cities..
San fran learning it's van life highway cities while working with 65k income
DEBT INCOME. 'Passive' income. Regardless of how many lives, families, communities, and/or neighborhoods are affected. INSATIABLE GREED.
@@Koushi82Do you live in the CITY? Apparently not. Because nobody that does ever refers to it as 'San Fran'.
@@71suns ok sf ghetto
This has been happening in Arizona. We have a lot of investors from California and Florida buying up properties in Arizona during the pandemic. They drove up the rent prices to what’s normal in their home state and made it unaffordable. Of course, the real estate lobbyists were all for it because of the amount in commissions agents and brokers were making. A lot of people were evicted. It wasn't because of the pandemic. They couldn't legally drive up the rent by hundreds of dollars. Unfortunately, people on a month to month lease were hit first. Those on a year to year lease weren't given the option to renew. It was the first time I saw evictions for $0.00 for lease holdovers. The elderly were really hit.
AZ rent begin going up after the minimum wage raise. The average apartment was 400-650 prior, by 2019 an extra 2-3 hundred was tacked on.
@@tias.6675I think this is a correlation doesn't equate causation scenario. Minimum wages have gone up all over the place since it was first enacted in the 1930s but rents have never been this predatory. The biggest culprit in housing instability today are investment companies stepping in to buy up homes and apartments then jacking up the rents. Big institutional investment companies that do this are supplying housing like ticket scalpers supply concert tickets.
There are different kind of investors. Not all are corporations which is what this is about. Some individuals do this as a business, so u less you know those homes being flipped in AZ are corporations...your observation may be unrelatable.
@nayjavu Perhaps you're an investor doing this? The video is about corporations doing this. I've dealt with people who have been victims of this practice. Have you dealt with people who have been victimized by these predatory practices? Please share and enlighten the rest of us since you're an expert.
@@tias.6675that didn't do it. They even said demand and market just go ask any apartment.
This is everywhere in America horrible
In TX watching this. It’s bad here too.
Once corporate America decided that owning and renting out SFRs was a good investment, they began steadily buying more and more houses.
Oh But if this were a CALIFORNIA based company we wouldn’t hear the end of it! But since it’s stupid ass Texas based, we only hear crickets! Such hypocrites in the comment section
This happened back in 2008, just wait this crash will make it look like nothing
I saw a similar. "Houses built just for rent" in the Bakersfield area about 1.5 years ago. It looked like about a 30 to 50 house tract.
Follow the money…. God Ble$$ America and the Almighty Profit$…
I would too if I had the money to buy multiple homes.