<story><title>VCs are financing an economy of servants</title><url>https://sifted.eu/articles/servant-economy/</url></story><parent_chain><item><author>nitrogen</author><text>&lt;i&gt;Private Equity buying up housing&lt;/i&gt;&lt;p&gt;Speaking of this, an entire new construction neighborhood near where I live was just purchased, with all of the for-sale signs replaced with leasing info signs.  You will own nothing, but you will not be happy about it.</text></item><item><author>toomuchcredit</author><text>VCs are just cogs in the wheels taking us from an &amp;quot;Ownership Society&amp;quot; to a &amp;quot;Sharecropper&amp;#x27;s Society,&amp;quot; as Buffett once put it.  Private Equity buying up housing, is just the latest worrying trend in a troubling trajectory with excessive debt, centralization of power, concentration of wealth, etc.</text></item></parent_chain><comment><author>gaspard234</author><text>I&amp;#x27;m in a traditionally mexican east Austin neighborhood. I used to see a lot of houses bought by techies. Yes it was &amp;#x27;gentrification&amp;#x27;, but at least they lived in them and often eventually started families.&lt;p&gt;In 2021, the 6-7 in my neighborhood which have sold for record prices are sitting empty with &amp;#x27;for lease&amp;#x27; signs. Checking the property records they are all some under a different named LLC.</text></comment>
<story><title>VCs are financing an economy of servants</title><url>https://sifted.eu/articles/servant-economy/</url></story><parent_chain><item><author>nitrogen</author><text>&lt;i&gt;Private Equity buying up housing&lt;/i&gt;&lt;p&gt;Speaking of this, an entire new construction neighborhood near where I live was just purchased, with all of the for-sale signs replaced with leasing info signs.  You will own nothing, but you will not be happy about it.</text></item><item><author>toomuchcredit</author><text>VCs are just cogs in the wheels taking us from an &amp;quot;Ownership Society&amp;quot; to a &amp;quot;Sharecropper&amp;#x27;s Society,&amp;quot; as Buffett once put it.  Private Equity buying up housing, is just the latest worrying trend in a troubling trajectory with excessive debt, centralization of power, concentration of wealth, etc.</text></item></parent_chain><comment><author>david927</author><text>It won&amp;#x27;t work.  We&amp;#x27;re facing another 2008 but writ large, and if that plays out in a similar way, we&amp;#x27;ll see people move in together so that not only will housing prices drop through the floor but rents as well.&lt;p&gt;A lot of this is to diversify out of equities which will soon crater ala 1929.  The problem is that hundreds of empty track houses don&amp;#x27;t have value either.  I think they know that; I think they feel they don&amp;#x27;t have much choice.  Desperate times.</text></comment>