Only about 53% of U.S. adults own homes, far below the commonly cited 65% homeownership rate, according to new Federal Reserve research that paints a starker picture of access to homeownership.

(PSA: Never trust the state's statistics.)

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[–] 17 points 18 hours ago (1 child)

I believe it's much worse.

I was chatting with a coworker about how every third house in my neighborhood is rented out and he told me about his suburb in Atlanta that is near 95% rented out. Even one of the developments he was looking to buy a house had HOA rules where only a certain percent were allowed to be owned by the residents.

What kind of backwards ass shit is this?

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  • [–] 20 points 18 hours ago*

    What kind of backwards ass shit is this?

    Unregulated capitalism.

    By buying up more housing, they increase the price of the housing they own, which means they can use that property to leverage into buying more property.

    It will literally continue to get worse but luckily the only way to stop is incredibly simple:

    Tax the ever loving shit out of rental properties, make it so that someone who is buying a home to live in has an advantage against the banks.

    "The market" won't fix it because everyone with wealth is profiting off us getting fucked.

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