Biggest Scandal in America and No One Is Talking About It

Home prices are being rigged by the government to benefit existing homeowners at the expense of buyers. We're just seeing the results: first time home ownership down by 40% since 2004.

This is an enormous scandal. And it impacts nearly everybody. It of course impacts poorer people the most, and especially poorer young people.

The government is doing this because existing homeowners enjoy policies that ensure their homes raise in value. Of course they do! Everyone will take free money if offered. But the truth is - no money is free - it comes with a cost. And the cost is that younger people are going to be less financially secure.

Here is how the scam works: limit housing demand via local zoning laws and make money to buy houses cheap to borrow via the mortgage interest deduction and low interest rates. Thus, prices go up.

This is government working for the old and wealthy at the expense of the poor and young. If you are not a home owner, it is making your life worse and more expensive every day and denying you the ability to grow wealth by capturing any gains in the real estate market. And yet, all the young people seem to be more passionate about fighting for imaginary causes, like neo-nazis and Trump. But they would be smarter and happier to instead concern themselves with the hustle on home prices that is taking their hard earned money out from their pockets every day. Everyone needs shelter and the monied are using the government to make shelter more expensive than it needs to be to benefit those already sheltered. Basic rent seeking.