patrick.net

I've long been against corporations. Corporations can literally live forever. If they can buy unlimited numbers of homes, they will own them forever.

Anyone here ever seen "The Corporation"?

RFK has been known to Grossly exaggerate his talking points. This is one case of hyperbole. You see for 2022 (the most recent records there are) the home ownership rate hit a new record high of 66.1% for US households. The proportion of home ownership varies based on ethnicity, but hit a new high for ALL groups.

It may not seem like it in California with a homeownership rate of 45% (its been trending downwards because of leftist policies like the kind RFK promotes) but has been increasing in most of the rest of the country.

Misc says

It may not seem like it in California with a homeownership rate of 45% (its been trending downwards because of leftist policies like the kind RFK promotes) but has been increasing in most of the rest of the country.

Yeah. Home ownership where I'm at seems pretty high. I'm 40 and none of my work friends, peers, etc. rent. My SIL is honestly the only person that I know close that rents.

Really it's a mathematical impossibility for corporations to own 60% of homes. New homes are barely being built and those that are generally are custom and to the buyers wants and needs. I'd say if half my friends were renters this might be true, but when 95% plus of people I know own, I'm not seeing it. While I can agree with RFK on covid vaccines, I honestly think the guy is an idiot on pretty much everything else that comes out of his damaged throat. This would be one of those things. Never understood why ALL Kennedy's get a pass because JFK was assassinated. They're not to be trusted.

Around me, just about nobody does any work maintaining their house — it's all contracted out, and often at high cost. Other than the appreciation of the property, most of these owners would probably be better served as renters.

Do people really stay in their houses as long as in the past? I'd say that's a definite NO. Compound that with the insanely high transaction costs of buying and selling, and it adds up to another win for renting.

Not sure why you say it's mathematically impossible. Maybe impossible by 2030? If corporations live forever (yes, I know they can go under), then anything they purchase they could easily own forever. How many people do you think will end up doing reverse mortgages? Over time, it could definitely happen.

My son inlaw's family built everything they own. I'm not an appraiser but I wouldn't be surprised if they own a billion worth of RE. Over the long run, corporations wouldn't be smart to keep everything they build?

Misc says

You see for 2022 (the most recent records there are) the home ownership rate hit a new record high of 66.1% for US households.

All time high was 69% in 04.

Didn't the psychopaths of the Great Reset say something along the lines "you'll own nothing, and be happy?"