REAL ESTATE GREED,
AND THE HOMELESS PROBLEM
A sample piece of land for sale in outskirts of NC
on sale for almost $300,000 for just 1.22 acres ???
In a Nutshell : Real Estate prices have been super inflated everywhere in the USA due to artificial ballooning of house values created by a combination of the low interest rates and the Covid virus which allowed people to work from home.
This led to an unprecedented workforce movement from expensive states where homes and taxes are unaffordable to states where homes were reasonably affordable. The market growth was further exacerbated by unknowledgeable buyers from out of state who did not know the current market trend and values, nor did they study to learn about it before making their purchase offers.
However they were all misled by the Realtors who encouraged enormous price hikes and even allowed for price war biddings to be transformed into rampant auctions. This allowed Realtors, sellers and the builders of new homes become filthy rich in a matter of two years (2021 and 2022) with sky being the limit for this uncontrolled greed. This should have been categorized as Price Gouging by the authorities. But the city, town, state and federal regulators are all asleep at the wheel allowing this to happen as all crooks can profit from this gluttony.
The families moving from their current states know that they have a serious problem of house price inflation in their markets and hence they decided to move to the better market where the prices are affordable and realistic. Then what is their reasoning for actually coming to a better market, and in a matter of less than 1 year convert it into a bad situation, as it is in their original state of domicile ?
The families moving are professional people form the major metropolis of US,A like NY city, Boston, Washington DC vicinity and the infamous San Francisco Bay area, to mention a few of the prime areas where real estate market values have been historically so screwed up, and they have created the serious problem of homelessness in their states.
So what is the deal to now make the same mistakes and start the advent of poverty and homelessness as the lower income class will not be able to afford houses similar to what happened in their states of origin. Today at many major road intersections in NC, it is not uncommon to see a sole poor person holding a cardboard sing that reads, "Homeless - Need money for Food and Rent". (However I never saw any sign as of yet that says "Homeless- Will work for Food and Rent")
Needless to say this problem cannot be solved now that this trend has set in and such greed of humans is very hard to satisfy, for both the ones who are selling real estate and those who are buying it.
Just my 2 cents in this serious matter that will plague society in the coming decades.
Sample of a standard Million Dollar House in the meddle of all other back to back homes 
Feedback, Comments and your Opinion counts.
- SammyBenjamin@gmail.com
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