I'm curious what everyone's thoughts are on this but I've been kind of toying with a theory that we're gurrently on a generational plan to ensure that America does become a nation of renters.
Thinking back Powell's Federal reserve hiking interest rates was meant to “discipline labor” and “reduce inflation” by basically inflicting pain upon the most vulnerable. We see this pushing borrowing regional banks and businesses to fail creating a smoke screen to hide the corporate price gouging making up the majority of this so called inflation.
Home prices which have remained historically high and not dropped to any significant degree. Thus rapidly becoming unreachable by the general public not only due to high price but also the crushing interest rates; leading to tens if not hundreds of thousands of dollars further pushing single family buyers out of the market.
Now we're seeing capital investment firms buying up housing by the thousands and able to buy in cash, above market price, forcing entire neighborhoods to become rental only properties….
Should I be wearing a tinfoil hat or does this all seem cognizant? I can't bring myself to believe that there wasn't/isn't some collaborative effort to further disempower the public and all “market efficiency” to grab every last quarter of income.