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JPMorgan to spend $1 billion rental homes across the US on the way to becoming a megalandlord

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posted on Jan, 16 2023 @ 03:54 AM
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originally posted by: Creep Thumper
a reply to: amraks

Serious question - do you have many people living out of their cars in Australia? Reason I ask is it's becoming more common here in the US now.


Yup we are in a rental crisis every where.
Its pretty sad really.
Apparently there is a full on show ground(fair grounds) in our capital city(Hobart) full of people sleeping in their cars.
We have landlords raising up their rents, because "supply and demand". Houses/units selling for stupid money.
Land is expensive too.



posted on Jan, 16 2023 @ 04:13 AM
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this appears to be a copy of the UKs post black Wednesday where the first time buyer homes where snapped up by landloirds that has driven the house price crisis in the UK..

that'll be what happens to the USA if you move the first time buyer property from market to the rental market, it'll also drive up rental costs and make home ownership even harder, but make those with homes that much richer..

it'll kill what little social mobility and meritocracy is left in the USA..



posted on Feb, 1 2023 @ 04:10 PM
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a reply to: putnam6

I had a thought about this recently. One reason they are probably doing this because the dollar is devaluing and they are converting their paper money into land, a tangible asset that will probably have more of a bottom than paper money ever could hope to at this point. Paper currency could become worthless, but the land you bought with it will always have some intrinsic value and people need a place to live.



posted on Feb, 1 2023 @ 05:45 PM
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a reply to: nickyw

I have been getting 4 and 5 offers in the mail a day for my house. Then the telephone calls, then the text messages. I told my Mom, when they start giving actual price offers, instead the, "I want to buy your house." Will give you a good deal, call me." Then I would begin to be concerned.

Well I got my first actual money offer by mail. I bought my house it in 1988. 3 bedrooms, 2 baths, a pool, a postage stamp size lot. The starting offer is $400,000,00.

So, I think the crap is about to get deeper. Much deeper.

I am not selling at any price, but I feel something wicked this way comes.




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