Why do billionaires thrive on phrasing their own means of needlessly expanding their income as\u2026 charity?<\/p>\n\n\n\n
Call me a jealous peasant if you must, it’s not wholly off the mark, but if the hoarders are absolutely compelled<\/em> to cause more damage to the rest of us because they’re howling holes that can never be filled even in death\u2014can’t they at least call what they’re doing what it is? <\/p>\n\n\n\n Grant Cardone has it in his head that he, and the other gilded jackals are going to save the housing market from crashing by swooping in at the last minute to buy up all the homes. You know, right as the value is at its lowest, and they get to pay whoever’s name is on the deed as little as possible.<\/p>\n\n\n\n Yay? <\/p>\n\n\n\n I’ll inject some transparency before I continue. I don’t approve of buying multiple houses to rent, or as is more likely the case with most people reading this, mortgaging<\/em> multiple houses to rent. Everyone and their dog choosing to invest in real estate drove prices up beyond what most people could afford even a loan for, leaving many of us looking at renting for life and being looked down on<\/a>. <\/p>\n\n\n\n Of course most landlords didn’t see this as their problem until talks of rent freezes and strikes went around as the pandemic began. That bump, for investors who aren’t <\/em>billionaires, and couldn’t <\/em> buy their excess homes in cash will only be one of the first. <\/p>\n\n\n\n But fear not, average investor. When your rentals can’t stay full due to layoffs, and rampant disease, and polygamous multi-person<\/a> relationships coalescing six people’s incomes to purchase a home of their own\u2026 Grant and his ilk will be there. <\/p>\n\n\n\n From Business Insider India<\/a>: <\/p>\n\n\n\n As home prices decline, that could draw investors back into the housing market, per Cardone.<\/p>\n\n\n\n It’s a likely scenario as institutional real-estate investors have earmarked as much as $110 billion to purchase or build single-family-rental homes in the coming years, according to an estimate<\/a> from real-estate-research and investment-banking firm Zelman & Associates.<\/p>\n\n\n\n Cardone is directly quoted as saying “….there will be no housing crash. Investors, like myself, will save the day<\/strong> and step in to buy the homes.”. <\/p>\n\n\n\n Now of course that characterization is ridiculous. This isn’t our boy Clark Kent spandexing it up to save orphans from rockslides. This is just one immorally rich dude letting the public know that he and his friends are gonna be here to take your stuff from the housing market. And the bank’s stuff. <\/p>\n\n\n\n