Most first-world nations are experiencing a crisis in housing affordability as there is simply not enough supply to meet the demand. Major corporations swept up the majority of homes when mortgage rates were artificially low. Those who own are less likely to less as they could downsize and still have a larger mortgage bill due to current rates. The Biden Administration has proposed a number of solutions, but none of them will solve the housing crisis.
Biden wants to punish landlords for “rent gouging” as part of his re-election strategy. “My administration is cracking down on big corporations who break antitrust laws by price fixing to keep the rents up,” Biden said in Las Vegas. “Landlords should be competing to give folks the best deal, not conspiring to charge them more.” The majority of landlords renting out homes would fall in the middle-class category. The elites are not using individual apartments or homes for their passive income. There are instances of price gouging, but landlords have no choice but to raise rent in the face of rising taxes and insurance premiums. Landlords are not providing housing as a public service. This is yet another method to punish the middle class that will result in a decrease in inventory when it is no longer lucrative for landlords to rent to those who cannot afford to buy.
As for purchasing, private investors accounted for 44% of all single-family home purchases in 2023 after three consecutive years of major corporations expanding their real estate portfolios. BlackRock is the largest landlord in America with a portfolio of over $120 in residential real estate. The goal is to own as much land as possible so that the people can become perpetual renters. BlackRock also is part of the World Economic Forum promises “sustainability” and “ESG integration,” and is a member of GRESB (formerly the Global Real Estate Sustainability Benchmark). GRESB is the global standard for providing and acquiring real estate and infrastructure in a sustainable way.
Biden plans to address the demand issue by building 2 million new homes to the tune of $20 billion. Well, we just experienced an influx of nearly 8 million new arrivals and his administration refuses to close the border. The plans for these housing are loose but the key is “affordability,” meaning these homes will go toward those already receiving government assistance. “My plan will also establish an innovative program to help communities build and renovate housing or convert housing from empty office spaces into housing, empty hotels into housing,” Biden said. He is looking at expanding the Low-Income Housing Tax Credit and providing low-income citizens and non-citizens with taxpayer funding to purchase homes. Again, this is an attack on the middle class and an action that will raise inflation.
You must realize that Biden, the US government, the EU, and countless others have openly said they are committed to the Great Reset presented by the World Economic Forum. YOU WILL OWN NOTHING! That is the plan here and precisely why the Biden Administration is taking action to hurt the middle class, and they have diluted the people into thinking they are above or below “middle class” standing. In every communist form of government, the middle class vanishes and you have the “haves” and the “have nots.” The WEF has presented their plans various times for 15-minute cities. There will be no solution to the housing crisis as there will be no solution to the migrant crisis because both are needed to push forward the Great Reset.
