Is the US Housing Market a Rigged Game? Soaring Prices and Corporate Landlords Price Out Average Americans

The US housing market is facing a crisis, with a significant imbalance between the number of homes for sale and the number of buyers. While the data suggests a buyer's market, the reality is far more complex. Soaring home prices, coupled with high interest rates and rising property taxes and insurance premiums, are making homeownership increasingly unaffordable for the average American. "It's not just mortgage rates either," says one commentator, highlighting the additional financial burdens faced by potential homebuyers. This situation is further complicated by the fact that large corporations and investment firms are increasingly buying up available properties, effectively pricing out individual buyers. The current system, critics argue, is not designed for the average American to succeed, leading to concerns about wealth inequality and access to housing. The Federal Reserve's slow response to rising interest rates is only adding to the problem, making it more difficult for ordinary citizens to participate in the housing market. This situation underscores the need for policy changes to address the affordability crisis and ensure that the housing market is accessible to all.