this post was submitted on 09 Jul 2025
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Grandma is not the problem. It’s the ~800 billionaires in the US controlling sizable portions of single-family residences through private equity, artificially controlling market prices for maximum profit per sale. Blackstone alone owns 300,000 residences.
Fun Fact: There are 16 million vacant homes nationwide. That’s 28 vacant homes for every unhoused person.
https://ips-dc.org/report-billionaire-blowback-on-housing/
So you're saying granny would be fine with a 100% return on her investment at $36 for an offer? No? Shocked I say, shocked.
Granny is part of the problem. Not the biggest part of the pie, but still guilty.
Inflation is a thing that exists. Saying that someone is bad simply because they want to update the value of their property is dumb. Also, let's say granny wants to downisze. Should she sell her home for a value way below market and then be unable to buy a smaller home for herself?
You say this as if Granny doesn't have tea and crumpets with the person who can sell her that tiny house every saturday. If she wants to downsize affordably, she should take it up with her 'Golden Age Bookclub' buddies who own all the other houses in town...