By: Sharon Rushton : marinpost – excerpt
Big Wall Street Investment Firms, Big Real Estate, and Big Tech have generated billions in revenue from residential real estate. To capitalize on their residential endeavors, they have successfully championed a self-serving false narrative about the housing crisis. Since these powerful industries shell out millions of dollars for marketing, lobbying, and campaign contributions, they wield great influence over politicians, government agencies, the news media, and the public at large. This influence has resulted in a sea change in residential land use policy and legislation.
This article does the following:
- Demonstrates Big Wallstreet Investment Firms’, Big Real Estate’s, and Big Tech’s appetite for residential real estate;
- Describes the “False Housing Crisis Narrative”;
- Reveals the millions of dollars the Big Players are spending to influence political campaigns, legislation, and the press;
- Shows that Big Wallstreet Investment Firms’, Big Real Estate’s, and Big Tech’s lobbying efforts have resulted in land use policy and legislation that augment their investments in residential properties;
- Presents a more effective way to address California’s housing affordability challenge…
BIG WALLSTREET INVESTMENT FIRMS’, BIG REAL ESTATE’S, & BIG TECH’S APPETITE FOR RESIDENTIAL REAL ESTATE
Big Wallstreet Investment Firms, Big Real Estate, and Big Tech have become increasingly hungry for residential properties.
Rented homes have been a hot trade since investors made lucrative bets on foreclosed houses during the 2008-9 Great Recession. During the COVID-19 crisis, rents collected from commercial real-estate assets such as malls and offices took a hit, whereas most private residential tenants continued to pay up, according to the Wall Street Journal article entitled; “Property Investors Bed Down in the Family Home” [1]…(more)