Foreign Cash Is Now Bidding For "Rat Infested" Homes In America's Latest Housing Bubble

I’ve been following closely the recent attempts by the domestic oligarchy in charge of the corporatist-facist state we call America to create a new housing bubble for several years now. For a little while, I was merely confused as to how prices were starting to rise when college graduates have no jobs and are six figures in debt, while at the same time real incomes are dropping for the rest of the populace. Rather quickly, the pieces starting falling into place. It became clear that the primary demand in the market was not from new families or recent college grads. Nope, it was pretty much all financial oligarchs with private equity firms buying up properties in bulk as “investments.” An entire asset class of “buy to rent” was born. I tweeted the following a few days ago:

I can sum up the housing market like this. Rich baby boomers with PE firms outbidding each other as they enter the dementia phase of their lives.

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