The mortgage crisis had real estate values mose money for the first time in US history iirc.
Value fluctuations even during the fannie and freddie created crisis were location dependent. For example Florida values had fluctuated up and down in cities like Jupiter, FL for quite a while. Not because of gentrification and societal/banking issues.
The most recent explosion of real estate is because Black Rock started gobbling up every residential home on the market and paying a premium. They literally wouldn't be outbid and they paid cash which meant a seller avoided inspection etc.
Almost like someone was printing money for them, which I think is actually happening and causing the massive inflation we're seeing with the dollar. I suspect we gave printing plates to some foreign govt or banking institution.
That happened under Trump 1. He should've stopped it then. Now we're in a situation where young people literally cant afford a home. It isnt even just young, unless you make 100-125k, you cant afford a home.
He has no way of stopping it with the RINOs we have in Congress. EO wouldn't get it done. Attacking that company outside of legislation would cause a massive financial crisis with how much stock they own in other corporations. They need to be investigated by DOGE level programmers and hackers to find out exactly where their money is coming from and how they're operating.
They do need to be stopped and their assets seized, and SFRs returned to the market in a planned release that won't collapse the market. Then return to common sense real estate restrictions for both banks and corporations, preventing them from buying SFRs before OOC buyers.
That caused a domino effect to rentals. No one can afford a home, rentals had higher demands and now apartments are insane.
It all started with Trump
Nope. It started with Clinton. It reached a fever pitch when Obama left office. Trump had no way to stop it.
That was part of the plan to keep him on the defensive and from attacking these issues.
Mitch kept the Republicans from attacking anything in their platform and cost them in the midterm elections ON PURPOSE, so they wouldn't be able to stop the fleecing of the people, crippling the economy, and the ramping up of inflation. They refused to address obamacare and health insurance issues for 2 years. They did NOTHING.
It sounds great and "moderate" to blame Trump for this, but that is either myopic or disingenuous.
allowing Black Rock to run wild in the single family dwelling market. There is no answer, because a company that large will just hold these homes until they get the money they want. The most they will lose is 25%, which isnt nearly enough to reset the market.
So unless you owned a home prior to 2019, you probably will never own one. At least not before 2029 and beyond.
There is an answer. It needs to be addressed before midterms and should be the main focus and message of Republicans that they WILL FIX IT, if given the mandate.