Posted at Hartmann Report on Jun. 22, 2025
Housing should not be a commodity: The Hidden History of the American Dream
The American Dream of owning your own home is the opposite of homelessness: housing is one of the primary essentials of life. A functioning society requires sufficient affordable housing, something that is more and more slipping away from Americans every day.
It seems that everywhere you look in America you see the tragedy of homelessness. Rarely, though, do you hear that Wall Street is helping cause it.
Thirty-two percent seems to be the magic threshold, according to new research funded by the real estate listing company Zillow.[cvii] When neighborhoods hit rent rates in excess of 32 percent of neighborhood income, homelessness explodes. And we’re seeing it play out right in front of us in cities across America because a handful of Wall Street billionaires want to make a killing.