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Joined 1 year ago
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Cake day: June 12th, 2023

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  • That may be true in some of the lower priced Midwestern markets, but I sell real estate in Boston and I don’t see big corporate interests in the single family or owner occupied 2-3 family market. as much as big corporations have ruined a lot of things in this country, I don’t think we Dan just wave our hands and say “corporate buyers” and explain away our housing market problems.

    We have a confluence of decades of exclusionary zoning and restrictions on building that make meaningfully adding to the supply of housing almost impossible. We have a huge deficit of qualified workers in the building trades, in part because all the work dried up after the great recession and people left the field and in part because we’ve pushed more and more kids to go to college. We have a mortgage system that’s nearly unique worldwide that allows homeowners tremendous advantages in keeping their housing costs low, but inversely provides tremendous disadvantages to having them move around more often and free up housing stock (so lots of aging singles and couples in big houses better suited for young people with kids). We have a society that’s bizarrely fixated on single family living even though we desperately need more density in most markets. And we have the problem of wage stagnation. None of those things are directly attributable to corporate ownership of large numbers of houses.

    I’d love for there to be some silver bullet where we could just say “disincentivize corporations from owning small housing stock” and solve the problem, but it’s nowhere near that simple.


  • Serious answer, as someone who’s been through years of therapy.

    Pretty much everyone rich and powerful experienced intense trauma early in life. And one of the horrible ways our early childhood trauma plays itself out is by causi us to recreate it on younger generations. You don’t just wake up one day as a child molester. That shit was visited upon you in some fashion when you were a child.

    Our entire culture is based on generational trauma (strongly suggest you read the Myth of Normal by Gabor Mate).

    People who seek power and fame are almost all incredibly damaged from a very young age. Not necessarily an excuse, but if you want to stop the cycle you have to be able to step back far enough to see it.