Ned Resnikoff: Also: It's the scarcity of housing that makes it an attractive investment to hedge funds in the first place. A better way to own Wall Street is by building enough homes to end the shortage.

Also: It's the scarcity of housing that makes it an attractive investment to hedge funds in the first place. A better way to own Wall Street is by building enough homes to end the shortage.

I'm a bit skeptical about this "get hedge funds out of housing and families into housing" idea. I mean, what do hedge funds and corporations do with all the housing that they own? Surely they...rent it to families? On further inspection, the Jersey City bill appears to just be anti-renter:

This isn't spitballing either. The REITs put it in their SEC Prospectuses!!

When I try to engage people in this conversation they are convinced it's the corporations even though homeownership for Mellenials is higher at current ages then it was for Boomers or Gen X. The solution is always build more housing. Minneapolis and Austin are prime experiments happening right now

What fucking kills me is that a lot of companies will openly state in public fillings that increased supply is a threat to their business model!

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