Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Rents Will Increase as Congress Opened the Floodgates to Foreign Investment in U.S. Real Estate

% of readers think this story is Fact. Add your two cents.


 

…Paul Ryan and his crony enablers have snuck into last week’s spending bill a repeal of a 35-year tax on foreign real estate investment known as FIRPTA.

 

Since the housing meltdown 7 years ago, millions of Americans have lost their homes in foreclosure and are now renting. Rental prices have been increasing very steadily to the point where “Housing is unaffordable for most working class Americans

In large part the homeownership rate has fallen because home prices are out of reach to Americans.  Many are relegated to renting… Americans are paying an ungodly amount of money in rents per month and much of this is flowing to new corporate landlords thanks to banking friendly bailouts.

The rent is too damn high

The homeownership rate dropping means people are living somewhere else.  Sure some Millennials are moving back home with their parents but others are opting to rent.

Take a look at this chart:

11.2 million households that rent (26.5 percent of the total) are severely burdened by the amount of rent they are paying.  What this means is that:

 

rents are consuming half of their monthly household income. 

Housing is the biggest expense for Americans so this is an important line item to follow.

 

This is problematic because inflation is occurring in real things.  There is this constant narrative that inflation doesn’t exist so therefore central banks can continue on this wild uncharted experiment in monetary policy.  So far, it looks like banks are doing just fine but the public isn’t.  Rents are going up but incomes are not,” reportsMyBudget360.

 

And it’s about to get much worse with a a new law passed last week’s spending bill. Thanks Paul Ryan-John Boehner 2.0. A bad situation in real estate is about to become much worse.

Many large corporations have been buying up much of the real estate since the housing crisis.

“…individuals or institutions with access to capital or cheap financing have been buying up properties across the U.S. in order to rent them to the same people foreclosed on during the financial crisis.

This represents a primary driver in the transformation of the American economy into a neo-feual wasteland of broke debt serfs….

Yep,

we bailed out the financial system so that financiers with access to cheap credit can buy up all of America’s real estate so that they can then rent it back to you later.

 

Blackstone has spent more than more than $2.5 billion on 16,000 homes to manage as rentals, deploying capital from the $13.3 billion fund it raised last year, said Jonathan Gray, global head of real estate for the world’s largest private equity firm.

 

…Paul Ryan and his crony enablers have snuck into last week’s spending bill a repeal of a 35-year tax on foreign real estate investment known as FIRPTA.

 

Let’s just go ahead and put a nail in the coffin of the idea that American citizens will ever actually own their own homes again. Instead, you can rent from China’s sovereign wealth fund, or perhaps a Saudi prince…

 

From Bloomberg:

Read the rest of the story at GramsGold.com



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.