this post was submitted on 27 Jul 2024
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A Boring Dystopia
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Billionaires and rent-seeking companies. There are at least three national companies I can think of who are hoarding single-family homes in major cities and renting them out.
Generally they purchase at scale via REO scenarios, and provide no value whatsoever while driving up prices drastically
One example is a company called “Progress,” no better or worse than the others but with a meaningful web presence if you’re curious.
Maybe we should progress on Progress.
Also Black Rock.