From The Real Deal · TRD Staff · · 40s
Jeff Bezos on Housing Market
Bezos shifts blame from landlords to economic policies in housing crisis.
In brief
Bezos shifts blame from landlords to economic policies in housing crisis. Jeff Bezos says housing affordability issues stem from economic policies, not greedy landlords, as mortgage rates surge past 7%. Originally reported by The Real Deal.
Bezos on housing affordability
Jeff Bezos says politicians blame landlords for housing problems instead of fixing the real issue.
“Instead of working on the real solution, it’s very common for, in the case of housing, certain politicians to point at landlords and say, ‘This is the fault of greedy landlords,’”
Economic policies drive housing costs
Bezos claims municipal policies that subsidize demand and constrain supply cause prices to rise.
“He referred to the market as a "simple supply and demand situation," casting aspersions on municipal governments that enact policies to "subsidize demand and constrain supply," allegedly sending prices soaring.”
Mortgage rates surge past 7%
Mortgage rates have surged past 7 percent, dropping home sales and application volume as buyers remain priced out.
“Meanwhile, mortgage rates have surged past 7 percent and continue increasing, leading to a drop in overall application volume and pushing existing home sales to their lowest pace in more than a year as buyers remain priced out of the market.”
The headline
Jeff Bezos says housing affordability issues stem from economic policies, not greedy landlords, as mortgage rates surge past 7%.
