Homefront Chronicles

Home affordability has become an urgent issue in San Diego, California, and throughout the United States. Soaring home prices, combined with rising mortgage rates, have made homeownership increasingly unattainable—especially for first-time buyers. However, a key but often overlooked factor exacerbating the crisis is the growing influence of Wall Street-backed Real Estate Investment Trusts (REITs). San Diego, one of California’s most desirable cities, saw its median home price exceed $750,000 in 2023—far above the national average. Limited housing inventory, strong demand from tech and biotech professionals, and historically low interest rates over the past decade have contributed to this upward trend. However, institutional investors, particularly large REITs, have also played a significant role in driving prices higher. These firms, which oversee billions of dollars in real estate assets, frequently purchase single-family homes in bulk, outbidding local buyers with all-cash offers. By...

Homeownership has long been considered a cornerstone of the American Dream, for good reason. It offers a multitude of benefits that extend beyond simply having a place to live. One of the most significant advantages is the financial stability and wealth-building potential it provides. Unlike renting, where monthly payments disappear into the void, mortgage payments build equity in your property. Over time, this equity can grow significantly, providing a financial cushion and serving as a valuable asset that can be utilized for future investments, retirement, or emergencies. Another compelling benefit is the sense of stability and community that home ownership fosters. When you own your home, you are likelier to establish roots in a neighborhood, build lasting relationships with your neighbors, and participate in local events and activities. This stability is particularly beneficial for families because it provides a consistent environment for children to grow up in, attend the same sch...