MY TURN: Housing as a commodity
Len Crosby
Should housing be considered as a key investment in safe shelter for families who will benefit our community or should it be considered as an asset class for absentee investors? That is a relevant question, since the Wall Street Journal recently reported that nearly one third of all single-family homes sold this year were purchased by investors. Financial syndicates scooping up homes that would otherwise be occupied by growing families who will support our schools and add to the fabric of our communities.
Young families seeking to purchase a home are already burdened by high mortgage rates, tighter lending standards and elevated prices. Now, they are competing for available homes against deep-pocket companies representing absent investors who are seeking only profit.
Become a Subscriber!
You have read all of your free articles this month. Select a plan below to start your subscription today.
Already a subscriber? Login
