9/25/2022
Billionaire Monopolist Jeff Bezos Is Buying Up Single-Family Homes to Rent-Trap Humanity Forever
There will come a point in history when most of humanity will understand the blindingly obvious mathematical and moral fact that is currently unthinkable to the vast majority of the voting populace:
That investors are extractive parasites who weaponize capital to passively extract wealth from the contributor class.
Nowhere is this more apparent than in the monopolization of housing for interest… AKA for-profit land-lording.
For-profit land-lording, as we (and Adam Smith and all the classical economists) have discussed, is a parasitical non-contributing activity that simply monopolizes property in order to loan it to someone and receive it back with interest rebranded as rent.
It creates massive housing debt bubbles that are now so big that humanity has forgotten that before financialization owning a house used to cost no more than 2–3X the annual median salary of a single worker.
Here’s how Arrived Homes works:
- Using tons of cash and cheap credit that the average human being could never access, the corporation outbids local working contributor families and gobbles up single-family homes.
- Having now achieved a monopoly over individual properties, the corporation rents them to the highest bidder — sometimes a working local family for more rent than they would’ve paid to own, and sometimes as a community-shattering holiday rental like Airbnb.
- In order to minimize their exposure and risk of a crash, the corporation then sells shares of the rental properties under the guise of “democratizing” real estate and “providing accessibility”, while actually simply practicing monopolization for the purposes of extracting wealth from workers.
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