New figures show that the Golden state’s rate of investor-owned homes is 19%, with mountain regions up to 83%
  • taiyang@lemmy.world
    1·
    2 days ago

    Free market would just keep going since rent is just free money for corpos and even without rent, value is property always goes up.

    Unfortunately, unless you get progressives in both state Congress and the governership, nothing will happen. Californian Dems are generally neolibs, and literally no one seems to pay any attention to any position aside from the governership.

    • canihasaccount@lemmy.world
      0·
      2 days ago

      Most of the problem is not driven by corporations:

      Investors owing between one and five properties account for 85% of investor-owned homes, and those owning between six and 10 properties account for another 5%, bringing the total share of small investor-owned homes to about 90%.

      It’s boomers.

    • karashta@sopuli.xyz
      0·
      2 days ago

      Fuck that. No one needs or deserves to have multiple homes when there are homeless people.

      Make multiple home ownership illegal.

      Make it illegal for homes and dwellings to be an investment vehicle for wealth.