FT Discovers 'Markets' Aren't 'Main Street' After Decades
This groundbreaking insight arrives decades after the housing market became a global casino. When capital is concentrated in fewer hands, and housing is treated as a speculative asset rather than a human right, the natural outcome is unaffordability. Private equity firms like Blackstone, which spent years hoovering up foreclosed homes post-2008, turning them into rental portfolios, are a direct
product of this 'market-driven' approach. The FT often celebrated these very market mechanisms. It’s a peculiar form of amnesia, isn't it? To chronicle the very processes that led to this predicament, then present the predictable consequences as a new, baffling phenomenon. The 'market' didn't suddenly become separate from 'Main Street'; it always was, especially for those on the receiving end of
its 'efficiency' (read: merciless extraction of wealth). Perhaps the FT's next expos will reveal that rain makes things damp.