USA (VINnews)-In a recent conversation with Theo Von, Robert F. Kennedy Jr. raised significant concerns about the future of homeownership in America, suggesting that young people may be increasingly shut out of the housing market due to the growing influence of major financial institutions. Kennedy’s comments highlight a broader issue in the American housing market and its implications for future generations.
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Kennedy pointed out a stark contrast between past and present housing prices. Two years ago, the average cost of a home in the United States was around $215,000. Today, that figure has nearly doubled to $400,000. This dramatic increase in home prices has put homeownership increasingly out of reach for many Americans, particularly younger generations.
Central to Kennedy’s argument is the assertion that three major financial firms—BlackRock, State Street, and Vanguard—are playing a significant role in this crisis. According to Kennedy, these companies collectively own 88% of the S&P 500, and their influence is extending into the housing market. He claims that these firms are aggressively acquiring single-family homes, which he believes is driving up prices and consolidating ownership in the hands of a few.
Kennedy’s critique also touches on broader themes of economic inequality. He references Klaus Schwab’s statement about the “Great Reset,” which envisions a future where individuals own nothing but are supposedly happy. Kennedy describes this vision as “socialism for the rich” and “merciless, ruthless, savage capitalism for the poor,” reflecting his view that current economic policies disproportionately benefit the wealthy while disadvantaging ordinary people.
The rise of corporate landlords and their impact on the housing market is a topic of growing concern. As institutional investors continue to buy up residential properties, critics argue that this could lead to further inflation of housing costs and reduced opportunities for homeownership among younger buyers.
Simple way to fix it: tax capital gains at the same rate as earned income. Also, hit them with FICA without limit.
Certain types of income can have an exemption and be taxed at the present lower capital gains rates, such as those investing in research and manufacturing, and those with significant payroll.
There is no reason why these house flippers should pay less in taxes than a working person.
Thanks to RFK Jr. for bring up this so very important topic! Keep up the good work!
RFK jr 2024!
This guy is gonna wind up like his dad and uncle. I pray for his safety.
This doesn’t effect our community as we have lakewood which is controlled by daas Torah
Worm-brain RFK jr himself OWNS STOCK in REITS (real estate investment corps) and is a landlord estate property goniff! Last week he pushed a fad traife diet, now he against “corporate” greed. SOCIALIST in Trump’s Team. The wheels are coming off the Trump Campaign. Oy vey!