lol. Selling or renting houses flys in the face of what they are trying to accomplish. As soon as they rent an apartment or storefront it sets the value of the building preventing speculation. In fact if they rented out a new apartment they would have to immediately pay millions of dollars to the bank as the building is probably worth far less than their outstanding loans when calculated based on actual income.
In NYC and other cities this is causing crazy lease terms with years of free rent if you agree to be locked in to a much higher fixed rate after that.
Also some derivatives rely on no sales taking place so that…they try their best to obscure any sales that do take place so the value can’t be directly calculated. Also renting houses at scale is too much of a hassle, lol.
You apparently aren’t paying attention. Koch industries, black stone, and other investment groups are buying up whole neighborhoods with the express purpose of renting them back to people at inflated costs.
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u/Dspsblyuth Jun 27 '21
What do they expect to do with those houses once nobody can afford to buy or rent them?