Readit NewsIt really scans. A lot of the crazy far right stuff seems to have originated with 4chan trolls having a laugh and idiots taking them seriously.
It seems to be a pattern for a lot of the troubling thinking of the day: unreasonable information spread for laughs being picked up by people unable to tell the difference and the idea takes on a life of its own eventually building up a class of people who know better figuring out how to make money from it and a class of people who don’t eating it up and spreading it.
Unfortunately we do have precedent. Through all of history almost no one owed their own home. It was by extraordinary government intervention in the 20th century through loan programs, incentives and building, and impediments to speculation, that made it uniquely happen in our era.
As the government steps back from continuous intervention favoring individual home ownership and low to nonprofit housing, the more profitable rental economy will re assert itself: it is always more profitable to own a property to rent out then to live in it and the market will reflect that if left to itself.
Price fluctuations (eg 2008) do not change the fact that land price increases have far outpaced wages for decades. So yes, it is rational to be very concerned.
And note that Zillow is not selling these 7k properties to would be homeowners but to investors.
Deleted Comment
Deleted Comment
Deleted Comment
Deleted Comment
Naturally I hope this does not happen but it may not be much harder than gaining the sympathies of a few pundits with strong Nielsen ratings.