This post, from l2/24/23 headlines – illustrates to YOU how the rich and corporations are constantly finding ways to abuse the lower 90% – this time in their own neighborhoods. the following information comes to YOU from College Football Sacks Housing Markets Nationwide” [Allison Salerno, New York Times; 12/24/23]
From Athens, Georgia: ”But the rent is too high for anyone to go anywhere, at least locally…youcan get one for $l,800, that’s considered cheap,” said Ms. Malcolm, 48. ”For a one-bedroom – a one-bedroom. It’s like $2,100 on average.”……..
”But Ms. Malcolm believes the rent issue in Athens has more to do with football. the Georgia Bulldogs..draw some 90,000 spectators to Sanford Stadium for six or seven games..essentially creating an alternate market for short-term rentals..Real estate investors are buying and building homes for fans who will pay hundreds or even thousands of dollars on a weekend housing…and the effects are affecting local residents ll year.
“..there are currently 1,135 short-term rentals available in Athens – up from 865 in November 2022…”…
”Athens is no outlier. Around the United States, in small cities reliant on college sports to keep their economies humming, short-term rentals are destabilizing housing markets, fueled by wealthy fans and investors who transform single-family homes into de facto hotels for a few weeks..often leaving them sitting empty the rest of the time.”
”Over the past year, the supply of short-term rentals has grown 34% in Tuscaloosa..33% in Columbia, Mo..and 11% in South Bend, Ind..according to data from AirDNA.
“But it’s not just the rental markets that are effected – investors are overpaying for the houses they rent out, pulling sale prices out of reach for many locals.
”They have very wealthy alumni that have no problems buying second houses, whether that’s for their kids to go there or whether that’s just for them to have a good time seven or eight weekends a year,” Mr. Bouchet said. ”And that’s caused the price of these houses to go through the roof and push people out of these neighborhoods.”…
“But this summer, after she returned from some traveling, she found the trees felled and a two-story house under construction close to her property line, part of a larger complex that now includes a renovated six-bedroom, five-bath ranch house. The Texas-based investors have yet to open their property to paying guests, but VRBO lists it as available to up to 16 people, with the first night, Feb. 1, set at $1,250
“Right now, the housing market favors the investor over just the average human being..”
“In south Bend..blocks from Notre Dame stadium..they’re nearly surrounded by short-term rentals..With so many investors scooping up homes, Harter Heights has been irrevocably changed.”…
”Houses are being purchased, flipped, and then they stand empty for sometimes weeks upon weeks..In Harter Heights, rents for one-bedroom apartments have risen 89% since 2013, according to data compiled by the federal Housing and Urban Development agency, drastically outpacing the national average.”
”Officials in South Bend can do little to stop the surge. In 2018, Indiana’s state legislature enacted a law prohibiting local governments, cities, and counties from passing ordinances regarding short-term rentals..”… !!!!!!!!!!!!!!!!!!!!!!!!!!
“But investor-owned homes have no place in a residentially zoned neighborhood, he said…”It’s so hypocritical of us as a city because we don’t allow a hair salon, we don’t allow a tax preparer or whatever to be in a neighborhood because that’s a business,” Mr. Tyner said. ”So you’re going to allow short-term rental, which is definitely a business. People are making huge amounts of money in our neighborhoods, but they don’t even live there.”
“The rush of investors turning private homes into short-term rentals is “absolutely” contributing to Tuscaloosa’s affordable-housing shortage, said Ellen Potts. ex-director of Habitat for Humanity of Tuscaloosa. ”It ties up a lot of rental housing that would be for families,” she said. A landlord friend of hers, she said, “is making so much more money than she used to, renting it for maybe $1,200 a month, when she’s renting it for $2,000 0r $3,000 a weekend.”……..
“The bottom line, she said: “It’s impacting how we form a community and how we sustain all the goods of that community.”
SO – dear people – research into. YOUR. OWN COMMUNITY - how are YOU. doing there??? Do YOU even have a clue on how the rich and the corporations are doing the same type of things where YOU live ??????
THE. “investor” stories are proliferating. The “private equity” reports are exploding>. The stories about how various companies no longer just want to sell YOU. something – but they want to rent it to YOU, make YOU a “Subscriber,” make YOU return to the dealership for “service”. [YOU are no longer allowed to fix YOUR own piece of equipment!!!!!!!!]
More “investor” stories will be unearthed. Reports are that the rich and their corporations are working to corner the markets in virtually ALL disposable products. Reports on various food monopolies are coming out – tight corporate control allows the rich to jack the prices on. YOUR. food – by eliminating independent competition.
I was told by a real estate agent he/she knew of local communities where up to 50% of all houses were owned by absentee landlords – many of which could be rented out; which, again – takes a single-family house off the market.
There once was a period where American civilization approached its peak; 1947-1973. It had weaknesses [racism, misogyny] – but the “average person” could – and did, succeed. I. know this to be a fact – because this describes the community and immediate neighborhood in which MY family lived. What many of you can only read about – we, in real time fact lived the real American Dream – and so did the people around us.
A MAJOR factor was the cultural norms supporting the control of GREED by the rich. the top marginal tax rate for this period, and much time around it – was an average of 81%. Labor unions were accepted and supported.
All this mass prosperity was “too good a deal” in the eyes of the rich. So they set about to destroy it – which they have nearly succeeded in doing – which gives YOU the divided America of 2023. SEE – “divide and conquer” works – if one has slick marketing, and believable LIES.
So – America has “cultural wars” – and YOUR real oppressors – the rich and their corporations – are literally “laughing at. YOU. all the way to the bank.” YOU’RE running around in circles, angry at the wrong people – while the rich, Wall Street, financialized medicine, various monopolies are robbing YOU blind.
“Football victims” are just one of many victimized populations. WE will provide more.
With Justice For All 