By A. Dru Kristenev ——Bio and Archives--July 13, 2024

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The replacement of middle class American citizens as homeowners is well under way. Starting with out-of-control inflation pricing housing beyond their reach, fuelled by record government spending, massive corporate entities have been furtively acquiring residential properties across the board. Under cover of online real estate purveyors like Opendoor and Zillow, monster asset management firms Blackrock, Vanguard and others are driving the market.

Priorities of Biden and his administration are upside-down on every level. In an article by E.J. Antoni and Caden Wolf, Biden’s determination to toss Trump’s tax relief and institute higher tax rates affecting middle class retirees, gutting their savings, compels wealthy and corporate land buyers to secure assets by purchasing homes and rentals. “The problem for the middle class is that the increased demand for real estate on the part of the wealthy will drive up demand for housing and put upward pressure on prices. That will exacerbate the homeownership affordability crisis already afflicting millions of Americans.”

Under Biden’s tenure, employment, housing, healthcare, education and welfare benefits have profited the foreign-born, including illegal entrants, above that of American citizens, especially veterans. Cheap labor for corporate giants is supplied while economy-busting policies are crushing the entrepreneurial spirit among the population groups who built the wealth of this nation.

With the Biden administration celebrating over reports of new jobs growth, it has neglected to mention the majority of those positions have gone to immigrants while native-born Americans have lost employment. The worsening situation is forcing struggling families to sell their assets, of which their home holds the greatest equity, leaving them to contend with the rapidly rising cost of rentals. Profit-oriented corporate entities have taken advantage of administration policies to dominate the lion’s share of rental properties. Flipping the coin, these corporations stand ready to purchase homes from beleaguered sellers seeking immediate relief, setting up their controlling interest in the whole housing market.

The result is a changing demographic among first-time homeowners that’s becoming evident at the neighborhood level.

Taking a walk around established and new subdivisions, a growing number of residents encountered are immigrants. With 10 million Biden-invited border crashers over the last three-and-a-half years, it’s not outlandish to assume illegal status is highly possible among those........

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