Why go to the movies to see the bleak dystopian future awaiting mankind when you can just go to Palm Bay, Florida to see what Goldman Sachs and other Wall Street investors are doing to destroy your future right now. Goldman Sachs is purchasing an entire Palm Bay community, 87 homes, for $45 million. The community will be for renters only. Soon, the houses will fall apart, repairs won't be done, and in a decade or so the neighborhood will deteriorate. More importantly, the wealth that is traditionally created for every day consumers through home ownership will be lost forever. Everyday, working people are quickly losing out on any chance of building wealth as a handful of billionaires are cornering the market on every wealth building strategy normally reserved for working people.
They call it a joint venture, but is it really? DR Horton builds the homes. DR Horton's 3 major shareholders are The Vanguard Group, BlackRock, and SSgA. Goldman Sachs is backing this $45 million purchase. Can you guess who Godman's 3 major shareholders are? If you guessed The Vanguard Group, BlackRock, and SSgA then you would be correct. Basically, what these billionaire funds are doing is moving their money from one company to the other in an effort to multiply their wealth at the expense of working people.
These investors have been busy recently acquiring entire neighborhoods in South Carolina, on the Gulf coast in Mississippi, as well as Pensacola, FL.
In the not to distant future, consumers and working people will be relegated to renting and not homeownership. Already saddled with wages that don't meet the current standard of living, mountains of credit card debt, ever rising auto loans, and student loan debt that literally lasts a lifetime, all avenues of wealth building will soon be closed off. Consumers will be left flushing whatever money they have down the toilet on the stock market and cryptocurrency Ponzi schemes that will eventually crash taking their money out of the system. The future is here and consumers need to stand up and fight back against billionaire investment funds before tent cities become the norm in every city around the country.