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The housing market looks like a bubble, 2008 regulator says (www.cnn.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] bemenaker 2 points 1 year ago* (last edited 1 year ago)

Greedy people gonna greed.

Wall street investors are buying up all the houses, outbidding the normal home buyers, causing housing prices to go up. Then using the tight housing market to raise the rent prices on all the rental properties they turned the houses they bought into.

The original surge was covid lockdown, people who had money to buy, decided, "now is the time to buy, if i'm going to stuck at home for the foreseeable future," and they did. Then the greedy mcgreedersons saw another opportunity to make more money.