I've been putting out 20-50 applications a week since September. So far I get a handful of rejections every day and I've gotten a grand total of 3 first round interviews
I had a TA for my quantum class tell us, "Look, I know you're all working together or sharing homework. But I'll see who knows the material when I grade your exams."
I disagree here. Rent is a siphon for your money to go to the wealthy landowners, just like these rising housing prices siphon more of your money to banks.
Unless you're saying that renters have more political leverage? Which I'm also not sure I agree with. It's easier to evict a renter than an owner. I think we need more affordable housing, which depends on building accessible homes, controlling outrageous rent, and addressing zoning laws, but all of this depends on a strong economy for those goods and a surplus of jobs that pay enough. Systemic reform of zoning laws and lobbying is where change is
So it sounds like a rock and a hard place. Homeowners don't want to lose money (and for many doing so would destroy their financial well-being), but they're also incentivized by banks and realtors to ask higher and higher prices. This also affects voting patterns (i.e. "I bought at an astronomical cost and if it loses value I'm fucked"). But it all sounds like the homeowner is caught between market forces that propel prices higher. The relatively recent introduction of blackrock to corporate homeownership has an outsized impact, like your example, where they spend a ridiculous amount for a property they intend to never sell which will also inflate the property value in a region. I'd be curious to see how that difference could be quantified and understood. Honestly it all feels like 2008 again
This is just anecdotal experience, but when I bought my house I was the only bidder who needed a place to live. The seller and the people I bid against were all looking for rental properties. I honestly only got the place through a fluke
Can you explain how? I fail to see how families owning a single home to live in is more extractive than megacorps and banks leveraging leviathan assets to create an artificial shortage and rent market
I've been putting out 20-50 applications a week since September. So far I get a handful of rejections every day and I've gotten a grand total of 3 first round interviews