The fact that families need to compete with companies for homes is insane. It should be illegal for companies like Blackrock and Zillow to purchase homes
The market decides. This is why a lot of us who studied economics do not want the government to come in. If left alone, the ibuying of companies like Zillow is going to tank their stock. This just happened to open door. I personally do not understand why they are purchasing real estate before a recession instead of during one when the homes are cheap. Maybe it’s the access to capital being at an all time high?
@Stranded NYer Opendoor failing is my proof. Also, government intervention has always resulted in a net negative for all parties. It is not “Neo-liberal”, it is economics 101 week 2-4.
Honestly, when is enough enough. These people will not be happy until they have destroyed every opportunity the average person has to live a happy and healthy life.
@@paulbrungardt9823 yes, sure, cos housing crisis happened in just two years, right? All before we were full of affordable houses🤦♀️ think first, then type
Ownership of your home is the main way to grow your wealth. These corporate rats has stolen that opportunity from millions to grow their own pockets and removed any alternative options
Costs money to move. Possibility of missing some work too. Switching insurance companies is often cheaper and its much easier to do! Yet most people still just renew for the convenience.
People renew when they have no other options that are affordable. These corporations are frequently making tenants fill out income forms. This is so they can raise the rent so high that people can't afford to move. Moving is not cheap. Especially when you are living paycheck to paycheck and can't save. You end up stuck paying 70% of your income because these corporations are buying up all affordable housing in the area. Can't afford the rent. Can't find anything affordable. Rentals aren't getting fixed or maintained. It's been happening for years, but people didn't care because it was happening to low income properties. Most of those people gave up and become homeless. Mainstream media wants people to believe that all the homeless are only drug addicts and alcoholics and mentally unstable people. Many disabled military veterans ended up homeless. Now affordable and middle income properties are targeted by the same greedy corporations. Middle income can at least fall back on their savings, if they have them. Or sell their own properties to the corporations to hope there are still homes to buy to get out of the rental rut.
This is by design. They know the rent will be paid no matter what especially if children are involved. The rich get richer mostly by taking advantage of the poor. 😶
Your statement has nothing to do with the fact that a large company that is taking advantage of their tenants financially.. that is able to afford water bills and other bills should be that chronically behind.
@@cancervisionary1509 if the tenants don't pay the landlords can't pay it don't matter how big a company is. Property taxes and water bills are owed by the owner of the home or homes.
And did you hear the phrasing there about the settlement? The city was paid "almost all" of what they were owed. Not only did the city have to sue, but they still didn't pay what was owed. If they're comfortable stiffing the city you know they don't do right by their tenants.
"We own most the properties in the area, you can renew at a rate we like or you and you kids can sleep on the street." 4 of 5 renters renew. Why not poll how many of their renters think they're being treated fairly? This is what predatory buisnesses look like.
This history goes back to the 1800's; when J.H Blair owned all the homes his employees lived in, and kicking out anyone who dares stand up and organize.
Can vouch for this-this company was making my life miserable with multiple calls, emails and threats daily. When you need to call them it's a different story though. I cannot stress enough how predatory and rude these people are.
@T Well, that sounds great, but unless u aren’t living pay check to pay check and have some money for a down payment it’s not really possible. Growing prices for car insurance, car payments, food, utilities make it impossible to save for a home. I work full time and 50% of my pay will get me rent in my area. Back then a full time would provide significantly more.
@T lost my job at the time bc of covid, I don't think it was an option...gee have you got any more life advice for people you don't know bc I'm sure you're just FULL of infinite wisdom
@T Median US salary is 54k/yr. Median rent is 24k/yr. Add the cost of taxes, healthcare, and basic needs and the math is pretty simple. If you make median or less then you cannot afford to live and either live off of credit cards, crime, or are left homeless. It's pretty obvious that all these 3 are happening to the majority of US residents.
I run public utilities, this madness needs to stop. Seems every time we have an issue, we can’t get ahold of the owner. This turns a 30 min job into an ordeal that lasts days…. these investors waste our time and your tax dollars!
This is a huge problem and its only gonna get worse. In my area, how is a person making $20 an hour suppose to afford a monthly rent of $2500 for their family on top utilities, food, car insurance etc...
And trying to find 20$ and hour is already insane... not to mention rent used to include a few things like water!! Now it doesn't include a single thing!
@@Woke365 Moving is very expensive! Not just from the expenses of your things, but if you have access to a car to leave the area, and thr money for a deposit. And now they have application fees that they just keep!! It's crazy these days
As a local landlord, please just remember that there are those of us who yes we are making a profit. We do provide affordable housing in areas that we could charge much higher rent. Not all of us are like those corporate landlords.
Kuddos to this amazing lady. She does good, honest work helping people in need and does not deserve to be taken advantage of by such greedy, predatory giants.
There needs to be laws that prevent companies from purchasing all the homes. There's no way for a normal person to compete with these companies. You can save forever and still not have enough. This is ridiculous.
That's just morally disgusting to go into lower income areas and buying up the housing and make a profit. How are people supposed to live? It's extremely scary to me where I live, it would be prime for corporate investors to come here and gobble everything up. It can easily happen at any time.
As opposed to being wage slaves trapped in the rat race? All that "hard work pays off" BS is what those who pull the strings tell us peasants to keep us docile. Work hard your whole life so you can maybe have a house and decent car at 60 years old? Nah
@@napalmsf Exactly, the SAME people telling us to 'work hard' never worked a day in their lives. They can't and haven't worked as hard as the people they are giving the useless advice to.
The difference though is that corporations don't pay the same taxes as individual buyers. They pay far less or none at all. It gives them an unfair advantage in the market.
@@auroraoghene8073 Working hard is no guarantee of success or happiness, especially these days with extremes of high corporate profits and low employer wages and benefits. But if you're joining the investors and profiteers in the housing market you're taking advantage of workers, same as they are. Our economy is a mega ponzi scheme which is on the verge of exploding.
@@paulbrungardt9823 Stop botting/russianing, this has nothing to do with the current president. If you can point to the law enacted or redacted that would prove your point, that would be beneficial and thaaaaaaanks!
@@phokdis Biden & democratic congress spent approximately $ 3 trillion on give away programs. In turn, the federal reserve bank monetized Trillions of dollars to cover the cash flow. This was very inflationary. Inflation ensued. Moreover, the federal reserve has raised interest rates; your present rent reflects the current interest rate.
Rented from a private owner 13 years ago then sold to a management company they raised my rent from 800 to 1575 in two months Then when I asked for repairs they told me I would have to just move out to repair? .there are no rules,they can do whatever they want it seems, no protection for renters at all.
@@paulbrungardt9823 Which recent president happens to be a landlord? Current one isn't a saint either but what does this have to do with either him or his predecessor?
This is a single family rental with highest property rate compared to multiple family rent. What kind of tenant protection are you expecting. Investor paid premium property taxes to feed local city and state. In return , u paid premium rental. This is a fair game don't u think so
Nobody should be shocked. We knew this would happen. Homes shouldn't be owned by corporations, they should be owned by families. And definitely not by foreign investors SMH.
Blah blah blah. I am a startup founder who just graduated business school. I put myself through school by making cash via instacart, DoorDash, ubereats delivering. I made a choice to be self sufficient. You should focus on bettering yourself and not complaining about random corporations. The U.S has record low unemployment, so you can get a job if you want one. The only thing that would work against all of you is your bad attitudes. Just stop complaining and start doing. You want change…then make it happen. Complaining on RUclips videos will not change anything and just shows the rest of us, who made something of our lives, that the masses love to complain instead of taking action.
Another attack on the middle class, we had an incident on bidding on a house that at the end, the local agent that was representing the homeowner was entertaining bids but behind the owners back contacting a larger corporation to buy the property and took that offer for the sale. They are all in it together
The fact that the federal government is jacking up the interest rate to prevent new investors from buying property, and keeping it that way while prices drop low enough for corporate landlords to buy up all the houses cheap and easy is what keeps me up at night. I am a real estate professional and it’s hard to watch.
democrats were never the party of the people, never. Remember these are the same democrats that supported slavery. They have rebranded themselves to become the party of oligarchs while portraying themselves as party of the people.
Yes, it's disturbing. There will come a time when people have no other option but to squat, then authorities will have to physically start evicting people, more than 2008.
Think about this.. that little house that you work day in and day out to try and afford is someone else’s investment portfolio. You toil away while they do NOTHING and earn profits off of your hard work. This can’t be allowed to continue. Fight it.
This is happening here in Kansas, my house was sold to a supposed community housing Organization, who is accepting government grants to improve properties in low income neighborhoods, and the put them back on the market for low income families. In actuality they are just tossing people, children, elderly, disabled etc out on the street. I’ve seen one of the supposedly refurbished house, built most likely in the 40’s, get some cheap refacing done and get thrown back on the market for over a hundred thousand dollars, my concerns came after researching this new investment fair housing farce, only to discover that the director is a licensed building contractor, who I doubt has an altruistic bone in his body, he’s in it for himself completely! The ordinary American Citizen doesn’t stand a chance, we’ll all be homeless before they are finished and the worst part about it is they are using federal grant money to do it! 🤬🤬🤬🤬🤬
wow, this is so sad. Didn't Trump sign this into law? i remember he signed something that allowed investors to flip houses in low-income areas. His children were the first beneficiaries of this law.
Your congressman is probably a shareholder in most of the predatory corporations monopolizing housing in America. Thats why they don't pass laws to protect you.
I'm in Kansas too. I had a corporation approach me to buy my home and offered a ridiculously high price, but I refused. Out of everyone in the neighborhood they tried it on, only one person gave in. I'm proud of my neighbors.
@@phokdis the house I own went up over 150,000 in the last year. It was $200, 000 10 years ago, the first 8 years it went up by 50,000, in less than two it's gone up another $150,000.That's inflation. There's no way I could afford to buy this house now.
@Gary Szewc inflation does come by political affiliation. This has been happening since the middle of the first Obama administration and got ramped up quickly during 2020-2021 with ultra low interest rates. It's not a republican-Democratoc issue. This issue actually is infact worse in republican lead states like Florida and Texas where real estate investors collectively artificially inflate housing with little recourse from government officials. The key issue is that there needs to be more direct action and regulation taken against companies and corporations when they encrouge on individuals like they ways they are doing now.
I can't believe how high the cost of rent has gone up specially in western Washington State it's absolutely ridiculous you can't even get a decent studio apartment for less than $1,500 a month in most cases. If you ain't making at least 70,000 a year you can't afford to live on your own. Something needs to be done to keep housing affordable!!!!!!
It's crazy to think my old two bedroom apartment in Oly, which was only $900 a month 7 years ago, is now $2000 a month. I know prices go up eventually, but this is way too much in such a short span of time.
Corporations should not be owning residential property. It should be illegal, simple as that. People need a roof over their heads, companies should not be exploiting a human need to make a profit. No one should. This country has let the corpos, rich and oligarchs take advantage of everything we need to live. Enough is enough.
Even though my old landlord was a great one, he is getting older and was looking to sale his properties. I took the initiative and sought a home to buy. Got a 4brd/3bath 2100sq ft on 3 acres of land in GA for 265k, the seller was a freshly retired military guy who gave priority bids to veteran, active duty personnel or new families only (im a vet). He took my bid and paid all my closing costs except for 2k! The house was only on the market for 1 day and he said he had corporate investors trying to throw money left and right at him with high bids, but he rejected them and took mine because I was a military veteran. This house is only 3 years old. My mortgage with escrow is 1420/month and without escrow it is 989.00. My interest rate is 2.5%. This house was valued at 295k when I bid and now its up to 330k! We love our home! A girl I used to work with pays 1600/month for a 3brd/2bath shotgun house in a medium crime area! Im like WTF!
This is a huge problem that is not being talked about, I work for a home builder and when the homes are done they're bought up immediately by large investors/funds , we're talking very large neighborhoods, one company I know of that buys homes from us has 58,000 homes.
Some Property management rental companies in our area are getting away with shady things because there isn’t much for working families or single families to rent on a budget. They know they got you trapped due to lack of affordable housing. In our area they are putting in only lower income eligibility apartment rentals like for SSI, recipients. I am glad for lower income getting housing, but it’s Terrible for me as a working caregiver. Rent is so expensive. It takes most of my paycheck
Vinebrook homes is putting me out of my rental because I spoke up about their maintenance men going into my home unannounced. The did not give me 24 notice and acted like they didn't have to. They sent me at least 10 notices to renew months before my renewal was up then raised the month rent because I didn't renew when they wanted. Then I got an email stating they received my notice to vacate that I did not send. Then letters stating I gave my 30 day notice whi h I didn't. I went to the office and a representative told me that they were revoking all the renewal notices and they wanted their home back. The lady said they did not have to give me a reason. I was never late on payments. Only rented for a year. I had to rush to find somewhere else to live because they would've had me on the street. I am a good renter. They should not be able to do that. They did it to be spiteful. Good thing I don't have kids to worry about a roof over all our heads.
@M Lambert It's because in general, average working people are already on a tight budget. If you're renting it's probably because you don't make enough to save for a down payment to the already exorbitant home prices that continue to stretch out of reach for the general public. Home rents are (in some cases) more than 1/3 of a persons budget and I dare say more than half, with income not meeting the levels that would parallel the increased rents. Homelessness has gotten out of control and so many people are 1 paycheck away from disaster. And these are people who are responsible and pay their bills. It's legalized racketeering that exploits and takes advantage of desperate people. If the rent went up $50 a year ok. But to double the rent in a 2 month period...immoral. That's my 2 cents on it and I own my home. God help me if I was still renting.
It's not just corporate investors. Airbnb is also screwing the housing market. People from out of state where the average w-2 is higher are buying up all the starter homes and real estate. The local people can't afford to buy homes or land because their wages just aren't near the wages. There should be some heavy taxes and penalties for owning more than 2 properties without being able to provide proof of permanent residence within 6 months of purchase( unless the land is agricultural use).
Yes!! I've been saying this for years- always happy to see another human that also highlights this - no one is talking about it! Its terrible in Florida. The Airbnbs are scammy here too. Bad enough they taking homes but many are thieving people or putting them in unsafe positions along w those that own next door. It changes neighborhoods.
It's not just corporations, there are a lot of real estate investment clubs (I think a lot of people took this idea from the reality tv shows) because before these flip it tv shows came out, if a house went up for sale in my town, you would only see individual buyers schedule a time to come look at the property. Now it is like sharks at a feeding frenzy, I am always concerned about anyone buying a home that doesn't plan on living in the community. I am just glad that my formers neighbors house sold to a young family instead of a corporate buyer or real estate investment club. There should be restrictions that they can only purchase homes that are abandoned, and there should also be additional restrictions as to what they can and can not do with the property. One technique a group of people will do to take over a neighbor is one of the people in a group will pay more for the first house (ensuring they will win the bid), once they move in they will behave in a way that is disturbing to the other neighbors to scare them into selling their houses quickly at a lower rate (to the other members of the group).
LOL the politicians have 80% of the country by the balls. 40% on each side will vote GOP or DEM due to nothing but loyalty but thats what they do. The corporations and politicians laugh. AMERICA IS OWNED!
I think we all need to get into business and create a genre that does not include anything corporate or government. My father does business like that and has an anti price gouging clause in his policy. We need to make that a standard and push back on the corporations.
Some of these landlord corporations have investors that don’t even live in our country let alone the state. So regular everyday people can’t get ahead because the modern plantation owners keep their thumb on you. It’s sick and something needs to change.
How about don’t increase you greedy pig. You landlords use to be decent people but you are possessed by the Greed spirit nowadays. It’s funny how tenants are paying a set price for a whole year but you feel the need to go up the next lease renewal. If you are making profit this year off say a $1000 a month why you can’t do just fine with a $1000 a month the next year?
Glad she spoe up and held the line. Good for you! Gotta fight for ourselves. Greedy investors are taking advantage of so many after treating them like crap. its another pandemic not enough are talking about. So many are losing out money, trauma and additional struggles no one needs. There's regular investors that aren't corporate doing it as well. I barely got out of a predatory rental situation in Florida.
Investors aren't greedy. No one loans $ for free. And your own 401K retirement is invested in these companies, so you actually want them to make you some $.
@@User-rka_zykx76 Anyone can. All they need is an old $500 car, then they can work for instacart, Uber eats, DoorDash, grub hub, etc. That’s how I put myself through business school. You can easily bag $4000-$5000 month from this. I only made $3000 due to the rest of my time being devoted to my studies. She can do that and take school online to get an education and a better paying job. People need to know that they have many paths forward.
@@User-rka_zykx76 you technically do not need a down payment depending on loan if you qualify examples First time home buyers loans or military home loans. You will have higher payments due to PMI though.
No greed. It’s because so many welfare queens took advantage of covid and stopped paying rent. Then they couldn’t be evicted for 18 months. I have no sympathy for this trash.
The greed and corruption that will be leaving this issue up to cities or states. It needs to be FEDERAL LAW that any one entity cannot own more than 6 residential properties
The main reason the housing market is as predatory as it is is because of corporations getting involved in the market. There should be caps placed either on rent or the number of properties that can be owned by any entity, especially if they are affiliated in any way with a corporation (This includes things like AirBnB). If this were done, housing would become affordable again over ight because there would be a sudden influx of vacant properties because the profit margin for said entities would take a MASSIVE hit. There is no reason somebody should be paying $600 a month or more to live in a trailer, let alone $1200 or more to live in an older house. It's literally cheaper to buy a house and pay the loan back than to rent it BUT if you're not living with your parents rent free you'll never be able to save up the money to be able to afford the down payment and get approved for the loan because you're paying rent; If that's not egregious I'm not certain what is!
$1200 is NOTHING! Rent is San Diego starts at 1200 up to 4000 a month an average size apt. You will find nothing under 1200 now. Renting a bedroom in someone's house is over 1000. These greedy rich folks don't care about American citizens
This is a huge problem in Arizona, tons of companies buying up properties and pushing prices up, and of course everyone in the area wants their piece too. Wanna talk about inflation, we could combat some of it, via combatting companies like these.
When you accumulate too many things they call you a “hoarder”. But when you accumulate too much of other people’s money they call you “successful”. The definition and the parameters of what we call greed need to change.
I heard the same is happening with mobile home parks. Companies buy up mobile home parks and double the rate once they take over. Mind you, mobile home owners pay tens of thousands (some even around $100,000) and so when families make such an investment, they don't expect to be facing such volitility and paying more and more at a faster and faster rate every year.
"4/5 renew leases" because they got nowhere else to go. Buying up entire neighborhoods makes people a captive audience. They got no choice, just like the utility companies do....the average citizen gets zero choice because of corporate greed in every aspect...home, utilities, services like cable and internet, etc. Too many corporate monopolies in one area...makes me think of stories where the company you worked for owned your house and rented it to you, they had the company store you bought all your stuff at, they owned all the nearby land and influenced the school board, etc.
Up here in Canada, people own rentals. Now you have to have credit to have a home. 25 years of rental history, but those college loans won’t let you have a home. This is absolutely pathetic Ohio.
I recently had a run in with a corporate property manager. Here in Colorado, tenant protections basically don't exist. They have a rule about heaters in the winter time, but that's it. Every other rule and law benefits the owner/manager. It is appalling and I don't know how they can still enforce this draconian, feudal system. I have a doozy of a story for anyone willing to listen!
Don’t be naive. Democracy doesn’t work when these same corporations are making donations to the politicians. How many people in our government care about the small fry anymore?
Let’s bring back the occupy movement! Set up campers and tents in front of all the capital buildings in America. If enough people come together peacefully change can and will happen.
yup and it's going to get worse especially in low income neighborhoods. Heck even trailer parks are dealing with this bs and that's usually a far more affordable option for many.
In Florida, the trailer parks are being bought lock stock & barrel. The new owners evict all the tenants, build condos with the same square footage as trailers, & rent them for 5X the price. There is zero low income housing being built in Florida, so the people who lived in the trailer parks are either homeless or have to leave the state.
@@wayneanderson8034 it's ridiculous and for people to think of those homeless as beneath them is disgusting. Not everyone homeless is caused by drugs n mental illness. Alot of them were priced out like the example you gave. it's a shame 😔
Maybe, if during the pandemic, the government didn't tell people you don't have to pay your rent, owners wouldn't sell their properties to corporations. In Oakland, they're still restricting evictions. If you owned a couple houses, would you rent to someone there, knowing you couldn't get rid of them if they didn't pay?
include apartments in this as well, greystar and other large corporations grab up complexes, cut costs, and raise rents and fees drastically. normally people would move but at least In my area greystar has bought up 95% of the apartments around so either way you're screwed.
Some anonymous California investors bought up a bunch of lower income apartment complexes(mine included) here in Bartlesville, Oklahoma, population 36, 000. First thing they did was get rid of the lawn service, and hire some drunk dude. Then they shut off the electricity to the laundry room. And then they jacked the rent up $100 a month. Let the good times roll...
Really what this indicates Is that the scarcity of affordable homes and apartments is this very issue that corporations are buying out all the low Income homes and apartments and raising the rent or eviction and this just shows how there is such a shortage and it is on purpose to because of the corporate landlords buy the homes and upping the rent. There needs to be laws preventing this from happening and there needs to be consequences to these corporations who do this because it is worsening the homelessness situation in every state in the USA
Completely agreed. In my small neighborhood probably 25% houses for rent. You can see how some houses changed. Before owners would plant flowers, put pine straw or much, take care of grass now those houses look terrible. Thanks God we have HOA and they at least control grass cut and few more things. Company bought house next door now I have new neighbors every 1.5-2 years.
Dont forget- the SCOTUS ruled the government can take private property under the eminent domain clause and force the sale to a private corporation IF the court determines it's in the best interests of the public at large and we all know that day when the first corporate giveaway will happen is closer than we all expect.
I'm a home owner and I rent 7 homes. The economy and tax increases and costs of maintaining and repairing them are the only reasons I have raised rents. Property tax has went up each year about 18% per year and insurance has doubled in a 5 year period. The only time I raise rent is for those increases. Property tax alone is about 200 per month. So I think alot of this bad guy for raising rents is more taxs and insurance and maintenence and government than landlords. Put another way the entire rent for 2 of the 7 I own goes entirely to the city and county and state per year. It's like 2 are rented just for government taxes per year. This is sicking. You never own Property in the US. The government owns part of them forever.
Want to fix this? Change the laws to be less in favor of corporate landlords. Give tenants the right to withhold rent payments if things are not fixed. Make it less attractive to these predators
As a young man in his 20s news stories like this makes the world feel oblique. Before people were able to work hard to buy a house but in 2022 hard work doesn’t even guarantee the ability to rent. No I don’t think corporations should be controlling single family homes, but unfortunately I wouldn’t want the government to jump in either so it feels like a lose lose smh.
The practice should be illegal. Not only are they crushing most people put of the housing market, whether a buyer or a renter, it's unsustainable. Part of their extreme rental profit scheme is based on not repairing properties properly. You hear lots of reports of water damage and mould. Those are issues and health concerns for renters in the short term. In the long term, they are sources of very expensive repairs or even condemned. They only make profit for the short term because the house has value. If that value disappears, so does not only the profit but the investment. The really dangerous thing about these types of investments is that they are done by firms investing other people's money. So, they don't care what happens to the investment itself, all they care about is the money coming back each month. They charge a percentage of the return, or the rent. As long as the scheme works, they are taking in huge piles of money in fees. If the value of the housing market tanks, if the houses lose their value due to dilapidation, or if the value of the investment evaporates in another rother way, they will wash their hands of it and walk away. It's the teachers and nurses unions that invest huge sums of money, along with many other investors who will lose their money. The firms will just lose their big fat free payments. So, it's a formula for building a bubble. Yay.
2:21 They’re renting single family homes, which are supposed to be a staple of middle class stability, and BRAGGING that residents are hanging around 4 years on average 🙄
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The fact that families need to compete with companies for homes is insane. It should be illegal for companies like Blackrock and Zillow to purchase homes
The market decides. This is why a lot of us who studied economics do not want the government to come in. If left alone, the ibuying of companies like Zillow is going to tank their stock. This just happened to open door. I personally do not understand why they are purchasing real estate before a recession instead of during one when the homes are cheap. Maybe it’s the access to capital being at an all time high?
any time a group of investors come to gather this can happen , so many strange factors that affect the home market
You love free markets when they appeal to you only.
Facts!
@Stranded NYer Opendoor failing is my proof. Also, government intervention has always resulted in a net negative for all parties. It is not “Neo-liberal”, it is economics 101 week 2-4.
This is seriously one of the largest problems right now in America. I have absolutely no expectations that Congress will act on behalf of the people
Your expectations have been realistically placed. They own Congress
OP - Agreed.
Correct because people in congress are probably investing in these companies
yet idiots will still vote for the useless democratic party...
Absolutely
Honestly, when is enough enough. These people will not be happy until they have destroyed every opportunity the average person has to live a happy and healthy life.
Definitely NOT right. Definitely predatory. No corporate entity should ever be allowed to own ANY single family homes....period!
Then abolish tax write-offs. They buy these homes, write it off as a business expense and basically get free money to buy more and more.
And this is why businesses need to be regulated.
What can we do ? Shall we call our representatives ? Anything else we can do ?
We are only 2 years into Joe Biden Presidency. If y'all voted Biden/Harris, you voted for this.
@@paulbrungardt9823 yes, sure, cos housing crisis happened in just two years, right? All before we were full of affordable houses🤦♀️ think first, then type
Ownership of your home is the main way to grow your wealth.
These corporate rats has stolen that opportunity from millions to grow their own pockets and removed any alternative options
Greedy dogs they will suffer a similar fate
They got us by the short hairs.
Home ownership is a hedge against inflation. There are better performing assets in the market.
But property tax eats up about 20% and insurance about 5% so who's really the bad guys???
@@naxT890 the housing market will collapse again in June of 2025. History keeps repeating.
"4 out of 5 renew." Hard to find a new, cheaper place if they are all owned by the same business.
Costs money to move. Possibility of missing some work too.
Switching insurance companies is often cheaper and its much easier to do! Yet most people still just renew for the convenience.
People renew when they have no other options that are affordable. These corporations are frequently making tenants fill out income forms. This is so they can raise the rent so high that people can't afford to move. Moving is not cheap. Especially when you are living paycheck to paycheck and can't save. You end up stuck paying 70% of your income because these corporations are buying up all affordable housing in the area. Can't afford the rent. Can't find anything affordable. Rentals aren't getting fixed or maintained. It's been happening for years, but people didn't care because it was happening to low income properties. Most of those people gave up and become homeless. Mainstream media wants people to believe that all the homeless are only drug addicts and alcoholics and mentally unstable people. Many disabled military veterans ended up homeless. Now affordable and middle income properties are targeted by the same greedy corporations. Middle income can at least fall back on their savings, if they have them. Or sell their own properties to the corporations to hope there are still homes to buy to get out of the rental rut.
This is ridiculous
It would be nice if politicians could help stop this instead of this weird partisan stuff
This is by design. They know the rent will be paid no matter what especially if children are involved.
The rich get richer mostly by taking advantage of the poor. 😶
Does that mean 1 in 5 are being forced out of their home? Not really something to brag about.
The fact that even the city had to sue this company speaks volumes on their business practices.
Well then the city should lower their taxes.
Your statement has nothing to do with the fact that a large company that is taking advantage of their tenants financially.. that is able to afford water bills and other bills should be that chronically behind.
@@cancervisionary1509 if the tenants don't pay the landlords can't pay it don't matter how big a company is. Property taxes and water bills are owed by the owner of the home or homes.
And did you hear the phrasing there about the settlement? The city was paid "almost all" of what they were owed. Not only did the city have to sue, but they still didn't pay what was owed. If they're comfortable stiffing the city you know they don't do right by their tenants.
@@LarisseMontrose it's called property tax it's the city's fault not the landlords. They need to reduce the property tax.
"We own most the properties in the area, you can renew at a rate we like or you and you kids can sleep on the street."
4 of 5 renters renew.
Why not poll how many of their renters think they're being treated fairly?
This is what predatory buisnesses look like.
This is exactly what the corporate owners are doing.
This history goes back to the 1800's; when J.H Blair owned all the homes his employees lived in, and kicking out anyone who dares stand up and organize.
Yep. Coal mine and rail road workers. Henry Ford , they were all doing this 100 years ago
@@stevenmorris2293 History repeats itself and it doesn't lie.
Yea I think eventually places like Amazon will start providing homes for its employees
@@Delightfullydee7 disney already says they're going to
@@bryankorth wow I didn’t know that!
Can vouch for this-this company was making my life miserable with multiple calls, emails and threats daily. When you need to call them it's a different story though. I cannot stress enough how predatory and rude these people are.
@T Well, that sounds great, but unless u aren’t living pay check to pay check and have some money for a down payment it’s not really possible. Growing prices for car insurance, car payments, food, utilities make it impossible to save for a home. I work full time and 50% of my pay will get me rent in my area. Back then a full time would provide significantly more.
@T lost my job at the time bc of covid, I don't think it was an option...gee have you got any more life advice for people you don't know bc I'm sure you're just FULL of infinite wisdom
@T besides that they were in a rush to renovate not bc I didn't try to pay smartass
@T A lot of people can't get one financed. Rent's the only option for a lot of us.
@T Median US salary is 54k/yr. Median rent is 24k/yr. Add the cost of taxes, healthcare, and basic needs and the math is pretty simple. If you make median or less then you cannot afford to live and either live off of credit cards, crime, or are left homeless. It's pretty obvious that all these 3 are happening to the majority of US residents.
I run public utilities, this madness needs to stop. Seems every time we have an issue, we can’t get ahold of the owner. This turns a 30 min job into an ordeal that lasts days…. these investors waste our time and your tax dollars!
This is a huge problem and its only gonna get worse. In my area, how is a person making $20 an hour suppose to afford a monthly rent of $2500 for their family on top utilities, food, car insurance etc...
And trying to find 20$ and hour is already insane... not to mention rent used to include a few things like water!! Now it doesn't include a single thing!
@@chickennugget6233 Exactly! A $20 an hour job is still considered "a good, livable wage" 😒
I would live in a van than to pay 2500 dollars a month in rent. Or move.
@@Woke365 Moving is very expensive! Not just from the expenses of your things, but if you have access to a car to leave the area, and thr money for a deposit. And now they have application fees that they just keep!! It's crazy these days
Exactly!
As a local landlord, please just remember that there are those of us who yes we are making a profit. We do provide affordable housing in areas that we could charge much higher rent. Not all of us are like those corporate landlords.
I know. Fortunately we have landlord that even though we are not low income. Haven't raised rent in 4 years.
My landlady is amazing and changed my life with affordable rent in a nice place. I’m forever grateful to her.
I wish you was were I live
Kuddos to this amazing lady. She does good, honest work helping people in need and does not deserve to be taken advantage of by such greedy, predatory giants.
this isn't news. this is an update how messed up we are.
Funny how so many cases get resolved when the news gets involved?
There needs to be laws that prevent companies from purchasing all the homes. There's no way for a normal person to compete with these companies. You can save forever and still not have enough. This is ridiculous.
That's just morally disgusting to go into lower income areas and buying up the housing and make a profit. How are people supposed to live? It's extremely scary to me where I live, it would be prime for corporate investors to come here and gobble everything up. It can easily happen at any time.
The greed is not just from corporations, but from investors and house flippers. Too many greedy people looking for quick easy money.
As opposed to being wage slaves trapped in the rat race? All that "hard work pays off" BS is what those who pull the strings tell us peasants to keep us docile. Work hard your whole life so you can maybe have a house and decent car at 60 years old? Nah
@@napalmsf Exactly, the SAME people telling us to 'work hard' never worked a day in their lives. They can't and haven't worked as hard as the people they are giving the useless advice to.
The difference though is that corporations don't pay the same taxes as individual buyers. They pay far less or none at all. It gives them an unfair advantage in the market.
@@auroraoghene8073 Working hard is no guarantee of success or happiness, especially these days with extremes of high corporate profits and low employer wages and benefits. But if you're joining the investors and profiteers in the housing market you're taking advantage of workers, same as they are. Our economy is a mega ponzi scheme which is on the verge of exploding.
These people don't check there Sideview mirrors before changing lanes. Not sustainable.
Rent is such a bigger problem than people realize
Yep and not many talking about it. I am unable to save towards buying a house because of it.
They should banned permanently corporate companies from the housing market and raising prices and cheating both the homeowner and homebuyers
They wont because, Money.
We are only 2 years into Joe Biden Presidency. If y'all voted Biden/Harris, you voted for this.
@@paulbrungardt9823 Stop botting/russianing, this has nothing to do with the current president. If you can point to the law enacted or redacted that would prove your point, that would be beneficial and thaaaaaaanks!
@@phokdis Biden & democratic congress spent approximately $ 3 trillion on give away programs. In turn, the federal reserve bank monetized Trillions of dollars to cover the cash flow. This was very inflationary. Inflation ensued. Moreover, the federal reserve has raised interest rates; your present rent reflects the current interest rate.
Trump removed a law that prohibited companies/investors to compete with home owners.
Rented from a private owner 13 years ago then sold to a management company they raised my rent from 800 to 1575 in two months
Then when I asked for repairs they told me I would have to just move out to repair? .there are no rules,they can do whatever they want it seems, no protection for renters at all.
That should be illegal. Where I live there are limits to how fast and by what % rent can be raised.
We are only 2 years into Joe Biden Presidency. If y'all voted Biden/Harris, you voted for this.
Mom and Pop businesses had enough of the moratoriums so they sell to bigger corporations.
@@paulbrungardt9823 Which recent president happens to be a landlord? Current one isn't a saint either but what does this have to do with either him or his predecessor?
This is a single family rental with highest property rate compared to multiple family rent. What kind of tenant protection are you expecting. Investor paid premium property taxes to feed local city and state. In return , u paid premium rental. This is a fair game don't u think so
Nobody should be shocked. We knew this would happen. Homes shouldn't be owned by corporations, they should be owned by families. And definitely not by foreign investors SMH.
The best way to not go into a recession is to not let corporations do this kind of crap. Why do we give them power over the _literal_ overall economy?
simply put greed and control
END CITIZEN'S UNITED!!!
Blah blah blah. I am a startup founder who just graduated business school. I put myself through school by making cash via instacart, DoorDash, ubereats delivering. I made a choice to be self sufficient. You should focus on bettering yourself and not complaining about random corporations. The U.S has record low unemployment, so you can get a job if you want one. The only thing that would work against all of you is your bad attitudes. Just stop complaining and start doing. You want change…then make it happen. Complaining on RUclips videos will not change anything and just shows the rest of us, who made something of our lives, that the masses love to complain instead of taking action.
'We, the People." More like "We, the Corporations."
Capitalism is awesome
Another attack on the middle class, we had an incident on bidding on a house that at the end, the local agent that was representing the homeowner was entertaining bids but behind the owners back contacting a larger corporation to buy the property and took that offer for the sale. They are all in it together
We obviously need to create laws against these corporations/companies from owning all these home
The fact that the federal government is jacking up the interest rate to prevent new investors from buying property, and keeping it that way while prices drop low enough for corporate landlords to buy up all the houses cheap and easy is what keeps me up at night. I am a real estate professional and it’s hard to watch.
Home of the brave.
Yeah but inflation is eating away at everything rn cause sleepy Joe is spending like there's unlimited money
democrats were never the party of the people, never. Remember these are the same democrats that supported slavery. They have rebranded themselves to become the party of oligarchs while portraying themselves as party of the people.
Yes, it's disturbing. There will come a time when people have no other option but to squat, then authorities will have to physically start evicting people, more than 2008.
Inflation, or just corporations that have no competition fattening theor pockets?
The greed in this world is showing up big time. Even the government is in on it, huge property tax increases every year. It is soul crushing.
This is the progression of an empire. We are on the decline and ultimate destruction.
Think about this.. that little house that you work day in and day out to try and afford is someone else’s investment portfolio. You toil away while they do NOTHING and earn profits off of your hard work. This can’t be allowed to continue. Fight it.
This is happening here in Kansas, my house was sold to a supposed community housing Organization, who is accepting government grants to improve properties in low income neighborhoods, and the put them back on the market for low income families. In actuality they are just tossing people, children, elderly, disabled etc out on the street. I’ve seen one of the supposedly refurbished house, built most likely in the 40’s, get some cheap refacing done and get thrown back on the market for over a hundred thousand dollars, my concerns came after researching this new investment fair housing farce, only to discover that the director is a licensed building contractor, who I doubt has an altruistic bone in his body, he’s in it for himself completely! The ordinary American Citizen doesn’t stand a chance, we’ll all be homeless before they are finished and the worst part about it is they are using federal grant money to do it! 🤬🤬🤬🤬🤬
wow, this is so sad. Didn't Trump sign this into law? i remember he signed something that allowed investors to flip houses in low-income areas. His children were the first beneficiaries of this law.
@@auroraoghene8073 Now, it’s all making sense, and why am I not surprised! 😡
Your congressman is probably a shareholder in most of the predatory corporations monopolizing housing in America. Thats why they don't pass laws to protect you.
I'm in Kansas too. I had a corporation approach me to buy my home and offered a ridiculously high price, but I refused. Out of everyone in the neighborhood they tried it on, only one person gave in. I'm proud of my neighbors.
This is needs to be an election level issue. Too many people not able to afford these crazy rents
Definitely, we need politicians for the people and those getting corporate money exposed and out!
It was an election level issue. People still voted Democratic. That's where all the inflation comes from.
@@garyszewc3339 This is not inflation, this is predatory corporate influence.
@@phokdis the house I own went up over 150,000 in the last year. It was $200, 000 10 years ago, the first 8 years it went up by 50,000, in less than two it's gone up another $150,000.That's inflation. There's no way I could afford to buy this house now.
@Gary Szewc inflation does come by political affiliation. This has been happening since the middle of the first Obama administration and got ramped up quickly during 2020-2021 with ultra low interest rates. It's not a republican-Democratoc issue. This issue actually is infact worse in republican lead states like Florida and Texas where real estate investors collectively artificially inflate housing with little recourse from government officials.
The key issue is that there needs to be more direct action and regulation taken against companies and corporations when they encrouge on individuals like they ways they are doing now.
I can't believe how high the cost of rent has gone up specially in western Washington State it's absolutely ridiculous you can't even get a decent studio apartment for less than $1,500 a month in most cases. If you ain't making at least 70,000 a year you can't afford to live on your own. Something needs to be done to keep housing affordable!!!!!!
It's crazy to think my old two bedroom apartment in Oly, which was only $900 a month 7 years ago, is now $2000 a month. I know prices go up eventually, but this is way too much in such a short span of time.
Corporations should not be owning residential property. It should be illegal, simple as that. People need a roof over their heads, companies should not be exploiting a human need to make a profit. No one should. This country has let the corpos, rich and oligarchs take advantage of everything we need to live. Enough is enough.
Education, food, housing. The for profit motivation of basic needs in America.
The country does not just allow corporations to become rich. The coprorations control the country. That is why citizens will have no say.
Time to revolt against corporate America, the working class out numbers the rich.
Predatory renting should be left to Rev. Warnock. He’s an expert at it…
@@TheFlameHaze1 dare you guys to organized and stage violent protest into their corporate head quarters.
Even though my old landlord was a great one, he is getting older and was looking to sale his properties. I took the initiative and sought a home to buy. Got a 4brd/3bath 2100sq ft on 3 acres of land in GA for 265k, the seller was a freshly retired military guy who gave priority bids to veteran, active duty personnel or new families only (im a vet). He took my bid and paid all my closing costs except for 2k! The house was only on the market for 1 day and he said he had corporate investors trying to throw money left and right at him with high bids, but he rejected them and took mine because I was a military veteran. This house is only 3 years old. My mortgage with escrow is 1420/month and without escrow it is 989.00. My interest rate is 2.5%. This house was valued at 295k when I bid and now its up to 330k! We love our home! A girl I used to work with pays 1600/month for a 3brd/2bath shotgun house in a medium crime area! Im like WTF!
This is a huge problem that is not being talked about, I work for a home builder and when the homes are done they're bought up immediately by large investors/funds , we're talking very large neighborhoods, one company I know of that buys homes from us has 58,000 homes.
:/
One of the reasons I wish I had gone to law school, to help protect these people from predators like Vinebrook.
and the top two companies doing this have been given the 'too big to fail' card by the US govt.
Been happening here in Colorado too,lost my apartment of 8 years to a corporate buy out and eviction.
This is a HUGE problem! Thanks for covering it!
Some Property management rental companies in our area are getting away with shady things because there isn’t much for working families or single families to rent on a budget. They know they got you trapped due to lack of affordable housing. In our area they are putting in only lower income eligibility apartment rentals like for SSI, recipients. I am glad for lower income getting housing, but it’s Terrible for me as a working caregiver. Rent is so expensive. It takes most of my paycheck
I bet Vine brook does not pay taxes
Vinebrook homes is putting me out of my rental because I spoke up about their maintenance men going into my home unannounced. The did not give me 24 notice and acted like they didn't have to. They sent me at least 10 notices to renew months before my renewal was up then raised the month rent because I didn't renew when they wanted. Then I got an email stating they received my notice to vacate that I did not send. Then letters stating I gave my 30 day notice whi h I didn't.
I went to the office and a representative told me that they were revoking all the renewal notices and they wanted their home back. The lady said they did not have to give me a reason. I was never late on payments. Only rented for a year. I had to rush to find somewhere else to live because they would've had me on the street. I am a good renter. They should not be able to do that. They did it to be spiteful. Good thing I don't have kids to worry about a roof over all our heads.
This makes me so angry. When you have no choice because you don't have the money to fight.
@M Lambert It's because in general, average working people are already on a tight budget. If you're renting it's probably because you don't make enough to save for a down payment to the already exorbitant home prices that continue to stretch out of reach for the general public. Home rents are (in some cases) more than 1/3 of a persons budget and I dare say more than half, with income not meeting the levels that would parallel the increased rents. Homelessness has gotten out of control and so many people are 1 paycheck away from disaster. And these are people who are responsible and pay their bills. It's legalized racketeering that exploits and takes advantage of desperate people. If the rent went up $50 a year ok. But to double the rent in a 2 month period...immoral. That's my 2 cents on it and I own my home. God help me if I was still renting.
That’s awful
@@mlambert8036 they kicked her out because she didn't renew early. She never said she gave them notice she couldn't pay.
It's not just corporate investors. Airbnb is also screwing the housing market. People from out of state where the average w-2 is higher are buying up all the starter homes and real estate. The local people can't afford to buy homes or land because their wages just aren't near the wages. There should be some heavy taxes and penalties for owning more than 2 properties without being able to provide proof of permanent residence within 6 months of purchase( unless the land is agricultural use).
Yes!! I've been saying this for years- always happy to see another human that also highlights this - no one is talking about it! Its terrible in Florida. The Airbnbs are scammy here too. Bad enough they taking homes but many are thieving people or putting them in unsafe positions along w those that own next door. It changes neighborhoods.
AirBnB should be outlawed, like corporations owning residential property.
Who do you think would pay those fines and taxes.... the property owner or the renters?....
@@christophermccord3316 property owners.
@@brentkinsworthy4999 and where do you think the property owners would get that money from?....
It's not just corporations, there are a lot of real estate investment clubs (I think a lot of people took this idea from the reality tv shows) because before these flip it tv shows came out, if a house went up for sale in my town, you would only see individual buyers schedule a time to come look at the property. Now it is like sharks at a feeding frenzy, I am always concerned about anyone buying a home that doesn't plan on living in the community. I am just glad that my formers neighbors house sold to a young family instead of a corporate buyer or real estate investment club. There should be restrictions that they can only purchase homes that are abandoned, and there should also be additional restrictions as to what they can and can not do with the property. One technique a group of people will do to take over a neighbor is one of the people in a group will pay more for the first house (ensuring they will win the bid), once they move in they will behave in a way that is disturbing to the other neighbors to scare them into selling their houses quickly at a lower rate (to the other members of the group).
The fed needs to stop these guys from doing this
Hold your politicians accountable.
LOL the politicians have 80% of the country by the balls. 40% on each side will vote GOP or DEM due to nothing but loyalty but thats what they do. The corporations and politicians laugh. AMERICA IS OWNED!
Thank all democrats near you!!!!!!
I think we all need to get into business and create a genre that does not include anything corporate or government. My father does business like that and has an anti price gouging clause in his policy. We need to make that a standard and push back on the corporations.
Some of these landlord corporations have investors that don’t even live in our country let alone the state. So regular everyday people can’t get ahead because the modern plantation owners keep their thumb on you. It’s sick and something needs to change.
One of the major ones is a Canadian corporation.
This can't be legal. I'm a landlord, and I have to give 30 days notice of any increase.
Other states have different laws and some don’t have rent control, it’s sad that these companies have all the power in there favor
How about don’t increase you greedy pig. You landlords use to be decent people but you are possessed by the Greed spirit nowadays. It’s funny how tenants are paying a set price for a whole year but you feel the need to go up the next lease renewal. If you are making profit this year off say a $1000 a month why you can’t do just fine with a $1000 a month the next year?
It's was the same trend in 2008 when investors sucked up all the cheap homes, rented/sold as the market improved.....
Glad she spoe up and held the line. Good for you! Gotta fight for ourselves. Greedy investors are taking advantage of so many after treating them like crap. its another pandemic not enough are talking about. So many are losing out money, trauma and additional struggles no one needs. There's regular investors that aren't corporate doing it as well. I barely got out of a predatory rental situation in Florida.
DT's son law Jarrod just lost a suit where many of his tenants sued him and his company. Guess he was a preditory slum lord
Investors aren't greedy. No one loans $ for free. And your own 401K retirement is invested in these companies, so you actually want them to make you some $.
@@ws8080 when you make money by having to kick someone out on the street God considers it an evil gain. You all should be thinking about this
Ones wealth and “success” is another’s suffering the key principle of American Capitalism!
It’s really pathetic that buying a home is cheaper than renting
Cheaper if you can save up the 10-15k to put down…
@@User-rka_zykx76 Anyone can. All they need is an old $500 car, then they can work for instacart, Uber eats, DoorDash, grub hub, etc. That’s how I put myself through business school. You can easily bag $4000-$5000 month from this. I only made $3000 due to the rest of my time being devoted to my studies. She can do that and take school online to get an education and a better paying job. People need to know that they have many paths forward.
For real. I just purchased my first house on 10 acres and my mortgage payment is less than some my coworkers rent.
@@User-rka_zykx76 you technically do not need a down payment depending on loan if you qualify examples First time home buyers loans or military home loans. You will have higher payments due to PMI though.
@@AtillatheFun In larger cities…
People need to STOP the GREED
Fight for rent control it's the only solution
The texting and phone calls need to stop about whether I’m interested in selling my house; that isn’t listed.
Should be illegal.
This is disgusting. The rent hikes across this country is due to greed. Do u hear me? Greed!!!
They must of learned that from Mistress Harley.
No greed. It’s because so many welfare queens took advantage of covid and stopped paying rent. Then they couldn’t be evicted for 18 months. I have no sympathy for this trash.
@@Tony_417 Then you better not have sympathy for the findoms. They brag about taking advantage of people.
The greed and corruption that will be leaving this issue up to cities or states. It needs to be FEDERAL LAW that any one entity cannot own more than 6 residential properties
Sick, hate it here
I guess you need to discuss the details of the other pending 20 cases because they are going to keep taking advantage of every one they can.
I see greed is still alive, in America! I rather sleep in my car, than to be poor paying high rent!
The main reason the housing market is as predatory as it is is because of corporations getting involved in the market.
There should be caps placed either on rent or the number of properties that can be owned by any entity, especially if they are affiliated in any way with a corporation (This includes things like AirBnB).
If this were done, housing would become affordable again over ight because there would be a sudden influx of vacant properties because the profit margin for said entities would take a MASSIVE hit.
There is no reason somebody should be paying $600 a month or more to live in a trailer, let alone $1200 or more to live in an older house.
It's literally cheaper to buy a house and pay the loan back than to rent it BUT if you're not living with your parents rent free you'll never be able to save up the money to be able to afford the down payment and get approved for the loan because you're paying rent; If that's not egregious I'm not certain what is!
They just care about the tax dollars coming in they don't care who owns the homes
$1200 is NOTHING! Rent is San Diego starts at 1200 up to 4000 a month an average size apt. You will find nothing under 1200 now. Renting a bedroom in someone's house is over 1000. These greedy rich folks don't care about American citizens
Time to either live in your car or get a job on a ship lol.
600$ is decent for a trailer. 1,500 and above is unreasonable.
@@marvinmallette6795 That sounds like a good idea, but Central banks, Fiat, unhinged government spending, and that gets us right back to the wet spot.
This is a huge problem in Arizona, tons of companies buying up properties and pushing prices up, and of course everyone in the area wants their piece too. Wanna talk about inflation, we could combat some of it, via combatting companies like these.
It’s sickening that a person creates a business to say “if we buy up homes and charge people more to live, we can make profits”
This is outrageous.
Good ole fashioned American greed. Gotta love it.
This has bled over into Canada and the UK too 😔. It's spreading like a plague.
This is international pimping.
We are only 2 years into Joe Biden Presidency. If y'all voted Biden/Harris, you voted for this.
@@paulbrungardt9823 I voted Kanye!
When you accumulate too many things they call you a “hoarder”.
But when you accumulate too much of other people’s money they call you “successful”.
The definition and the parameters of what we call greed need to change.
I heard the same is happening with mobile home parks. Companies buy up mobile home parks and double the rate once they take over. Mind you, mobile home owners pay tens of thousands (some even around $100,000) and so when families make such an investment, they don't expect to be facing such volitility and paying more and more at a faster and faster rate every year.
"By 2030, you'll own nothing and like it." This is only the beginning.
STOP CORPORATE GREED❗️❗️
Vote for rent control it's the only way to stop massive increases in homelessness
"4/5 renew leases" because they got nowhere else to go. Buying up entire neighborhoods makes people a captive audience. They got no choice, just like the utility companies do....the average citizen gets zero choice because of corporate greed in every aspect...home, utilities, services like cable and internet, etc.
Too many corporate monopolies in one area...makes me think of stories where the company you worked for owned your house and rented it to you, they had the company store you bought all your stuff at, they owned all the nearby land and influenced the school board, etc.
Up here in Canada, people own rentals. Now you have to have credit to have a home. 25 years of rental history, but those college loans won’t let you have a home. This is absolutely pathetic Ohio.
I recently had a run in with a corporate property manager. Here in Colorado, tenant protections basically don't exist. They have a rule about heaters in the winter time, but that's it. Every other rule and law benefits the owner/manager. It is appalling and I don't know how they can still enforce this draconian, feudal system. I have a doozy of a story for anyone willing to listen!
So write your state government reps and campaign to change the law. That's how democracy works.
Don’t be naive. Democracy doesn’t work when these same corporations are making donations to the politicians. How many people in our government care about the small fry anymore?
Tell us! I want input
"You will own nothing and be happy." - Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
Let’s bring back the occupy movement! Set up campers and tents in front of all the capital buildings in America. If enough people come together peacefully change can and will happen.
The WEF realizes that personal home ownership is one of the few remaining obstacles which prevent it from enslaving the masses
Renovictions are bs. Its happened to me 3 times in 7 years. Paid on time every month. Clean and quiet. NOT GOOD ENOUGH... GREEEEEEEED
yup and it's going to get worse especially in low income neighborhoods. Heck even trailer parks are dealing with this bs and that's usually a far more affordable option for many.
In Florida, the trailer parks are being bought lock stock & barrel. The new owners evict all the tenants, build condos with the same square footage as trailers, & rent them for 5X the price. There is zero low income housing being built in Florida, so the people who lived in the trailer parks are either homeless or have to leave the state.
@@wayneanderson8034 it's ridiculous and for people to think of those homeless as beneath them is disgusting. Not everyone homeless is caused by drugs n mental illness. Alot of them were priced out like the example you gave. it's a shame 😔
Maybe it's because the government is making it almost unprofitable for private small investors to be in the renting business?
Maybe, if during the pandemic, the government didn't tell people you don't have to pay your rent, owners wouldn't sell their properties to corporations. In Oakland, they're still restricting evictions. If you owned a couple houses, would you rent to someone there, knowing you couldn't get rid of them if they didn't pay?
Exactly landlord rights need to be taken seriously if you don't want to have to deal with a corporation when you rent a home.
All of the same ppl b1tching about this now are the same ones who praised rent freezes and small landlords having to lose their homes.
Time to declare a war on greed. Put rich predators on notice and resort to drastic measures if they don't change their ways.
And that especially goes for the findoms.
@@frankculaga5169 what's a findom?
@@kneesnap1041 A woman who gets rich just from humiliating people.
include apartments in this as well, greystar and other large corporations grab up complexes, cut costs, and raise rents and fees drastically. normally people would move but at least In my area greystar has bought up 95% of the apartments around so either way you're screwed.
Only going to get worse. Corporate greed knows no bounds.
Some anonymous California investors bought up a bunch of lower income apartment complexes(mine included) here in Bartlesville, Oklahoma, population 36, 000. First thing they did was get rid of the lawn service, and hire some drunk dude. Then they shut off the electricity to the laundry room. And then they jacked the rent up $100 a month. Let the good times roll...
Really what this indicates Is that the scarcity of affordable homes and apartments is this very issue that corporations are buying out all the low Income homes and apartments and raising the rent or eviction and this just shows how there is such a shortage and it is on purpose to because of the corporate landlords buy the homes and upping the rent. There needs to be laws preventing this from happening and there needs to be consequences to these corporations who do this because it is worsening the homelessness situation in every state in the USA
Completely agreed. In my small neighborhood probably 25% houses for rent. You can see how some houses changed. Before owners would plant flowers, put pine straw or much, take care of grass now those houses look terrible. Thanks God we have HOA and they at least control grass cut and few more things. Company bought house next door now I have new neighbors every 1.5-2 years.
It has been a concern since 2016
Landlords have way to much power over their tenants in the USA it became ever so obvious as I was studying for my licensing exam
@Stranded NYer this was happening well before covid
@Stranded NYer so basically that's not what you typed but what you said. got it
Dont forget- the SCOTUS ruled the government can take private property under the eminent domain clause and force the sale to a private corporation IF the court determines it's in the best interests of the public at large and we all know that day when the first corporate giveaway will happen is closer than we all expect.
4/5 “Renew” I’m sure that excludes people they evict and includes the people that are forced to Renew, b/c they have nowhere else to really go.
I'm going through the same thing. Its sad and something needs to be done
That’s what you get when both political parties work for the rich at the expense of the working class
For the corporation, by the corporations...
I'm a home owner and I rent 7 homes. The economy and tax increases and costs of maintaining and repairing them are the only reasons I have raised rents. Property tax has went up each year about 18% per year and insurance has doubled in a 5 year period. The only time I raise rent is for those increases. Property tax alone is about 200 per month. So I think alot of this bad guy for raising rents is more taxs and insurance and maintenence and government than landlords. Put another way the entire rent for 2 of the 7 I own goes entirely to the city and county and state per year. It's like 2 are rented just for government taxes per year. This is sicking. You never own Property in the US. The government owns part of them forever.
Want to fix this? Change the laws to be less in favor of corporate landlords. Give tenants the right to withhold rent payments if things are not fixed. Make it less attractive to these predators
Rent control is the only solution we need to punish landlords and protect citizens
@Stranded NYer How? rent control means if she's been living there paying her rent doesn't increase. it can increase for new tenants
As a young man in his 20s news stories like this makes the world feel oblique. Before people were able to work hard to buy a house but in 2022 hard work doesn’t even guarantee the ability to rent. No I don’t think corporations should be controlling single family homes, but unfortunately I wouldn’t want the government to jump in either so it feels like a lose lose smh.
The practice should be illegal. Not only are they crushing most people put of the housing market, whether a buyer or a renter, it's unsustainable. Part of their extreme rental profit scheme is based on not repairing properties properly. You hear lots of reports of water damage and mould. Those are issues and health concerns for renters in the short term. In the long term, they are sources of very expensive repairs or even condemned.
They only make profit for the short term because the house has value. If that value disappears, so does not only the profit but the investment.
The really dangerous thing about these types of investments is that they are done by firms investing other people's money. So, they don't care what happens to the investment itself, all they care about is the money coming back each month. They charge a percentage of the return, or the rent. As long as the scheme works, they are taking in huge piles of money in fees. If the value of the housing market tanks, if the houses lose their value due to dilapidation, or if the value of the investment evaporates in another rother way, they will wash their hands of it and walk away. It's the teachers and nurses unions that invest huge sums of money, along with many other investors who will lose their money. The firms will just lose their big fat free payments.
So, it's a formula for building a bubble. Yay.
Corporations getting over on people this isn’t new … how about a whole Netflix doc on slumlords and bad property management
Corporate landlords how scary. That's some end times kinda thing.
you guys are sooooo behind on these issues it crazy
2:21 They’re renting single family homes, which are supposed to be a staple of middle class stability, and BRAGGING that residents are hanging around 4 years on average 🙄