I know personally so many people who have left to go to Texas and Florida (I am so jealous.. just biding my time til I can work remote 100% of the time) yet California housing is so astonishingly insanely overpriced still. Like.. who in the fuck is buying these 1 million dollar piles of shit houses for 2 million? any decent 2 bed/2 bath apartment is $3000+ and a house with a yard thats decent is around 5k/month. If this was just inflation times I wouldnt be surprised since Cali has always been pricey so accounting for inflation is going to jack that way up, but knowing how many people are leaving here, WHO IS PAYING THAT? all the kids who moved here to bEcOmE a sTaR have moved back home during the pandemic, locals leaving en masse, people working remote for a Cali company and able to leave to work remote full time. I just.. dont get it.
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BlackRock is buying up all homes, paying cash (for immediate escrow) at a ~30% markup. This has been going on for a while, and has driven up all the prices, putting housing costs out of reach for most people. In addition, there is a "shortage" of the raw materials (such as lumber) which further exacerbates the problem. Of course when you visit the actual lumber yards (which I have done) they are completely full of trees, but meh.
Of course since there is only one company in the world, it's not difficult to see the conspiracy. This is creating a housing crisis, which substantially contributes to the economic crisis (which has only just begun). These contrived crises are a necessary step towards the Great Reset; coming soon to a Theatre near you.
i need the economy and housing market and all of it to crash pleeeeaaase.