An interesting conspiracy theory on why prices have gone up so much.
I recently heard about a very interesting conspiracy theory, and I thought it was worth sharing with you all. According to this theory, large venture capital companies are buying up mid-price-range homes all across America. They stated in 2021 that they were going to buy 140,000 single-family homes, and I believe they’ve surpassed that number.
In the Triad, in the last five years, we’ve had venture capital and private equity companies from outside of our market come in and purchase just over 12,000 homes. That’s billions of dollars worth of homes! Then, they turned them into rentals, which made rent prices go up as much as 50%.
The second part of the conspiracy is that as these people grab more and more market share, interest rates go up. Some people believe this is trapping the middle class into renting from them because now that the interest rates have gone up, real estate values have gone up, and now consumers can no longer qualify for a mortgage.
“These companies have purchased billions of dollars worth of homes in our area alone.”
The third part of this conspiracy is the craziest. Some people say that the whole go-to-college craze from the last 15 years has nothing to do with education whatsoever, and everything to do with a debt trap for the middle class. To pull this off, they worked with a powerful company called Sallie Mae, that even influenced the tax code to ensure that people cannot bankrupt out on student loan debt.
All of these ideas are a little eerie to me, but we’ll have to see if there is any truth to them. This master plan may take generations to figure out, but I will keep you posted about how things play out. Until then, as always, call or email me if you have any questions; I would be happy to hear from you.
