Newsweek Discovers Property Taxes, Ignores Real Estate Speculation
Newsweek alerts readers to impending property tax deadlines in New York, Texas, and Wisconsin, a crucial piece of information for homeowners facing penalties. However, this corporate media staple—owned by Johnathan and Dev Pragad, whose personal fortunes are tied to various financial interests—avoids any meaningful discussion of *why* these taxes are such a burden for many. They highlight the
symptom, not the disease. The elephant in the room, of course, is the rampant real estate speculation and corporate landlording that inflates property values and subsequently, property taxes. Newsweek won't delve into how massive investment firms, not families, are increasingly gobbling up housing stock, turning homes into speculative assets rather than places to live. They'll issue warnings about
late fees, but never question the economic policies—often crafted by politicians who benefit greatly from financial industry donations and real estate PACs (see OpenSecrets.org data on real estate lobbying)—that exacerbate the housing crisis for ordinary Americans. It makes one wonder whose interests truly headline their reporting.