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this post was submitted on 05 Dec 2023
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It's sure beneficial for the rich fucks behind these companies. Everyone else gets fucked.
No, that's not any of this works. In a free market, it's entirely possible (and often the case) that both the rich fucks and everyone else benefit.
I recommend Basic Economics by Thomas Sowell and also Poor Economics by Abhijit V. Banerjee.
edit Based on the voting response, I guess I should have suggested something from Dr. Seuss first.
Then pray tell, how is private equity purchasing homes benefiting everyone else?
It increases the overall supply, brings more resources and stability to the housing market. Corporations that specialize in house rental have a opportunity to view market data. All this combined benefits everybody.
Only if these corporations are actually required by regulation to make these houses available for rent, and at market-adequate rates. If a company is as cashed up as this one is likely to be, they'll only rent to people who are willing to pay higher rents, and if there's nobody who wants to rent a specific property, they'd rather leave it sitting vacant than lower the rent.
This isn't hypothetical, it's happening in practically every property market where wealthy investors are buying up housing stock.
Free market doesn't exist without regulation
That is true. Protecting the free market is one of the few legitimate roles of the government.
Lol please tell me this comment is a joke.
Lol please go read those books so you can stop being so ignorant.
Please humble yourself and acknowledge that maybe you're not an expert on the subject after reading "the basics of..." book about it. Just a thought.
Keep in mind that there are people who have dedicated their careers/lives to studying this stuff. Don't disregard rebuttals just because your "basics of economics" or whatever book didn't get there yet.
The real world just doesn't work that way. But maybe if you went beyond Econ 100 level shit (or honestly, not even), you would have learned that.
Have you considered looking outside every now and then? What's your answer to the discrepancy between any previous generation and modern day? https://www.investopedia.com/millennial-homeownership-still-lagging-behind-previous-generations-7510642 https://www.nar.realtor/blogs/economists-outlook/millennials-still-underperforming-amid-gains-in-homeownership-rate https://www.supermoney.com/inflation-adjusted-home-prices/