They keep raising prices, stating that it’s due to inflation, but then they keep having record profits.

Meanwhile, the average American can barely afford rent or food nowadays.

What are we to do? Vote? I have been but that doesn’t seem to do much since I’m just voting for a representative that makes the actual decisions.

  • vonbaronhans@midwest.social
    13·
    10 months ago

    On the housing thing - there’s been a major intrusion of private equity firms into the regular house market. A report came out recently claiming as much as 40% of all single family homes sold in 2023 went to private equity firms to turn into rental properties (iirc). On mobile, otherwise would try to actually give you the source.

    I can’t speak to the food price increases. My only thought is that most people are creatures of habit and always have been, so I doubt that individual shoppers ‘not putting pressure on the stores’ would explain a historic rise in costs. That said, if we did find evidence that shoppers are less savvy or willing to change habits, my first guess as to why would be people overall being more overworked and stressed. But until the data comes in, who knows.

      • HelixDab2@lemm.ee
        3·
        10 months ago

        That’s not what that says at all. What it says is that companies that own 100+ properties make up a 3% of the market. You can have a small-ish company that owns 50+ properties that acquires 10 more, and they won’t make that list.

        A wealth mom n’ pop investor that buys up ten houses houses to flip–or to drive up rental prices on other properties they have–would still be private equity.

        • phillaholic@lemm.ee
          1·
          10 months ago

          Look at the overall investor share, it was on a downward trend after the crash, and is only up a little. It’s been mostly consistent for over a decade.

    • nbafantest@lemmy.world
      14·
      10 months ago

      If private equity wants to invest in housing, that’s great.

      There is no fundamental limit on how much housing we can build.

          • Passerby6497@lemmy.world
            1·
            10 months ago

            Up to 30 homes depending on lot size. Source:

            The median lot size for new single-family homes is 0.19 acres or 8,276 square feet. That means around five average-sized home lots can fit on one acre.

            However, if you want to know how many homes can legally fit on one acre where you live, you have to consult your local zoning laws. Minimum lot sizes vary widely across the country. One study of Texas lot sizes found that minimum lot sizes in the studied towns ranged from 6,500 square feet to 16,000 square feet. A standard east coast rowhome can be built on a lot as small as 1,400 feet, while some rural areas have minimum lot sizes of one acre (or several acres).