Chapter 7 Profits and Value
How the Pure Profit Motive Destroys Value
For years, we have been discussing value destruction. A prime example of this is given in Francesca Mari’s brilliant article on the cover of New York Times magazine called “A $60 Billion Housing Grab by Wall Street.” You can see it at:
https://www.nytimes.com/2020/03/04/magazine/wall-street-landlords.html
“Hundreds of thousands of single-family homes are now in the hands of giant companies – squeezing renters for revenue and putting the American dream even further out of reach,” the article says.
Francesca describes a potential first home buyer.
When Ellingwood began speaking to lenders, he realized he could easily get a loan, even two; this ...
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