Nation of Renters, by Pedro Gonzales

The powers that be would really prefer to see you rent; it makes it easier for them to control you. From Pedro Gonzales at chroniclesmagazine.com:

There is a storm on the horizon. Rootless corporations, major financial institutions, and the federal government are poised to fundamentally change the way Americans live by separating them from property ownership. The peculiar conjunctures of our time are paving a winding road to villeinage, with each turn bringing to clearer view the future of rent-serfdom awaiting most Americans.
As the nation locked down last year, rent protections that continue today sheltered tenants from eviction. Independent of intentionality, these measures kneecapped mom-and-pop landlords—individuals who are more likely to own single units, homes, and duplexes. “The long-term concern here, over the course of a few years, is that a growing share of mom-and-pop landlords will be forced to sell and rents will go up,” Peter Hepburn, an assistant professor of sociology at Rutgers University who researches housing inequality, told Bloomberg News. “There’s a lot of private equity interest and a real possibility of growing consolidation.”
Many smaller landlords report vulture-like solicitations to sell from major real estate firms waiting to swoop down on the carcass. With more than 6 million renter households behind on rent, they feel as if the system is stacked against them, and for good reason.
Accompanying eviction moratoriums last year was the CARES Act. Americans took home stimulus checks, but wealthy hedge fund investors and real estate firms silently reaped billions in tax breaks while mom-and-pop landlords received comparatively little assistance. Among the financial giants that have taken a renewed interest in real estate is BlackRock, the world’s largest money manager.
BlackRock is powerfully connected both in America and abroad. It recently became the first global asset manager licensed to start a wholly-owned onshore mutual fund business in China. Domestically, Chief Executive Larry Fink has raised a shadow government of former Treasury Department officials to insulate BlackRock from regulators.
The firm’s influence is felt everywhere; it has even recently dipped into progressive politics. By using its voting power to compel Walmart, Dick’s Sporting Goods, and Kroger to stop selling or severely restrict the sale of firearms and ammunition, BlackRock has practically enacted a de facto form of gun control. In April, it announced a racial audit to determine how it may have “contributed to racial inequities in the financial system.”

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2 responses to “Nation of Renters, by Pedro Gonzales

  1. Trotsky's Icepick

    Property is theft, comrade.
    You will own nothing and like it while the unelected scientist experts and nomenklatura apparatchiks live in luxury dachas overlooking the hive borg favela.
    Welcome to the Great Reset Leap Forward.

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  2. Vanguard has also lead the hedgie fund homebuting spree.Zillow and others have been buying.Supposedly,many of these are investments on vehalf of pensions,if so,then it seems a good option.Homeowners need to stay put if possible and maybe renovate or add a level and join households with family as in the older generations.Elderpods have zlso been popular.H.U.D. Is a notorious blackhole of waste and corruption.See,Catherine Fitts,Solari report.com,she used to run hud. Fair housing is fine,but does NOT Equate to destroying architectural integrity of neighborhood or adding more burden to sewers,police,schools,hospitals,dr.s,eldercare homes,roads,park districts. Just moved from Cook County where I grew up and because of all the illegal invaders,police,dr.s,schools,park disyricts,socialworkers,emts are stretched to the max.The roads are clogged.Theres alot more nouse and litter.The library is a zoo,not a quiet respectful place to learn and better oneself.Pollution is nonstop.Gang activity even included murder and gunshots,just like in Chicago.Most neighbors barely spoke to each other because they had very divergent lives and experiences with 50-60 year old caucasian Smericans maybe living there for decades,while neighbors are from Mexico,Korea,Ukraine,Honduras and may not speak alot of english. This particular suburb always had a good amount of diversity from the early ’70’s to now,but the quality of life there is crap.All about survival. You college aged people would be smart to learn home building,repair,maintenance skills,especially off-grid.Save your $ and buy what you can asapDo this and take college or tradeschool classes while working on your property.Renters……….pay up,move out,or co-operate with landlord and apply for renthelp.

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