You have not demonstrated that this is in any way a cause, it sounds like more of the rich = automatically evil position.
Bruh, Wall Street’s influence on California housing isn’t the sole driver (the cause as
you put it), but in many markets, where they buy, everyone else sees prices rise. About 19% of homes in California are investor-owned, with rural and tourist counties showing highs of 60–80%; even coastal counties like LA and San Francisco hover around 15–17% (
The Guardian, SF Gate).
Not saying Wall Street
is the cause (as
you put it), but pretending they don’t distort markets, especially where they cluster, is ignoring reality. You really think building more homes (which California really needs and is the
main issue) will stop Wall Street, with their cheap money and armies of lawyers? Investors absolutely do purchase newly built homes, and by concentrating in certain markets, they reduce homeownership opportunities and raise both home prices and rents
. I don’t have an issue with individual homeowners flipping or renting, that’s a service to their community. The problem is when corporate
giants hoard properties, outbid families, and treat shelter like a speculative asset,
artificially driving up prices for profit.
Edit: Btw I'm sick of you always demanding people to demonstrate anything when you haven't demonstrated shit in the last decade.