The Housing Crisis

In a world that has gone crazy it is quite understanding that things in life have become almost incomprehensible to fully understand how our own ability to live without the basic necessities of life, such as decent shelter aka a home or apartment, decent affordable food, abundant clean fresh water, and clean sanitation has turned upside down.

The steady rise of corporate mergers and acquisitions of real estate holding companies and developers has only intensified in recent years. Spurred on by governmental noninterference has realigned the housing industry all in favor of corporate interests. The recent surge in the inflationary trends that has spiked costs all across the consumer spectrum has propelled a feeding frenzy of corporate greed. Meanwhile our government has refused to act on behalf of the American public in ways that would offset what so many feel as a blatant attack on what should be a basic right of decent housing.

When the present Administration has committed billions of dollars in foreign aid to Ukraine without taking into account the current inflationary trends that millions of Americans are facing leaves a tough pill to swallow for so many. For the past two decades the public has witnessed a sharp restructuring of real estate in terms of housing.

Today, the housing crisis has reached epidemic proportions. Not since the Great Depression has the United States been faced with the facts that so many are unable to find and keep a home. For the past two decades there has been an increasing influx of corporate real estate holding companies that are transforming the housing industry. 

The inflationary trends that we are experiencing have had their roots planted by the demise of American manufacturing and the rise of corporate dominance in foreign imports. Contributing factors have always been governmental indifference to the general public’s welfare. And accentuated by the current trend of real estate holding conglomerates.

Today’s housing market trends are not in keeping step with the harsh realities that so many Americans are facing. The US for years has kept the American Dream far out of reach for millions. With all the obstacles that have been put in place either by our government, banks or the real estate holding conglomerates like qualifying income, credit score etc. has only exasperated the housing crisis. Standing in the way of easing this crisis is our own government. The needless red tape for section 8 vouchers continues to keep millions out in the cold when there continues to be a two year or more waiting list. to receive a section 8 voucher.

When there is this surge in real estate holding conglomerates that now control the majority of the housing industry their bottom line is not focused on future tenant’s but shareholder profits. Thus, they are major contributors to the inflationary trends where so many are prices right out of their homes. The majority of apartment complexes, mobile home parks and housing development communities are now owned by real estate holding companies. They in turn have set in motion a continuation of the inflationary trends that are keeping millions out of the housing market.

It is these holding companies that have now determined who qualifies as future tenants. Today it is qualifying income, credit score, and other determinizing factors. In Tampa for example the majority of 1/1 apartment the base rent is $1600 per month. To qualify the future tenant’s income has to be 3 times the $1600. Even if they earn $20 per hour still won’t qualify for that apartment. And if you are trying to buy a home mortage a 10% down payment is required in the majority of instances. If we equate this with the current employment opportunities in Florida, we can see that the housing crisis is only getting worse.

In the past year rents have increased across the board at a rate of 11% or more. And in many cases these real estate holding companies have manage to increase rents by as much as 25 % from the previous year. With continued non interference by government either on the local, state or federal level has only encourage the rapid rise in inflationary trends of rental properties all across the country. And, until there is some movement by governmental officials to enforce a cap on rental increases of no more that a 3% increase each year millions of Americans will face very hard choices that they wouldn’t have to make otherwise.