On a recent episode of "The Glenn Beck Program," Glenn warned Americans about the "massive" housing market upheaval that is happening in this country right now. The changes, he explained, could prevent millions of aspiring homeowners from achieving their American dream thanks to huge investment firms buying up as many houses and neighborhoods as they can. There is a way to stop this, Glenn said. But it takes asking some Americans to "do the impossible."
"I'm trying to think of another way of saying this, because I know I've said it before and I just wish people would listen. Very few people truly understand what we are on the threshold of right now," Glenn began. "This [upheaval] is going to be compressed into a 10-year period and you're not going to like it … the upheaval is going to be remarkable," he added.
Glenn shared a recent Redfin News report, which shows that almost one in five homes sold in the U.S. during the third quarter of 2021 was purchased by an investment firm, and many are paying tens of thousands of dollars over the asking price.
"Think of that, one in every five homes that are sold are going to a big investment firm," Glenn said. "Investors bought more than 90,000 homes, totaling more than $63 billion, representing 18% of all homes sold in the quarter. The numbers broke all records.
"The same factors have pushed more Americans to rent, which also creates opportunities for investors, because investors typically turn the homes they purchase into rentals," he continued. "And now they can charge higher rents. Rent for single-family homes surged by more than 10% in the 12 months, through September. The fastest annual rent inflation in 16 years."
Glenn went on to add that "nearly 77% purchased were bought in an all-cash transaction. That's not your average person. These investment firms, like BlackRock, are going in and buying entire neighborhoods. They are the people that come in and say, 'I'll give you $70,000 over the asking price.' … Now, why would investment firms think they will just be able to make money paying $70,000 over the asking price? What is it that they know that you don't know? Could they know, as the Great Reset states, that by 2030 you will own nothing and you'll like it?"
Watch the video clip below to hear Glenn offer his thoughts on how you can help solve the Great Reset's housing crisis:
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