Posts Tagged ‘the market’

In Which The State Does Not Exist

April 2, 2022

            In the previous post (3-27-22), Analysis considered an alternate look at the state, one in which the state itself was the disguise. The quote from Graeber and Wengrow’s book was focused on “the realities of power.” Analysis gave three examples of where it ostensibly looks like the state is about the business of running or solving things (wielding power) where in actuality it is only a front for an unnamed source. In 2 of the 3 presented (if not, in essence, all 3) the unnamed is the market, which the state is committed to keep “free” (at the expense of the rest of us). The quote suggested an alternate view can be achieved by looking where the state is not. A Washington Post article entitled Corporate landlords are gobbling up U.S. suburbs. These homeowners are fighting back. (Peter Whoriskey and Kevin Schaul, 3-31-22) does precisely that. No news here in Licking County Ohio that the anticipated Intel chip facility is the dominant news without a day going by that some feature of it doesn’t appear. Unwritten (specifically) is the likewise near daily pressure on homeowners to sell their property to “investors.” The red hot real estate market is fueled by cash only offers, driving prices up. The Post article sheds some light on this market (which has got to be free): “As investors have targeted the American suburbs, faraway companies have begun to take over entire blocks. Last year, investors bought nearly 1 in 7 homes sold in the nation’s top metropolitan areas – the most in two decades of record-keeping, according to a Washington Post analysis of data from realty company Redfin” “In Charlotte and surrounding Mecklenburg County, landlords backed by Wall Street own roughly 11,500 houses – more than 4% of single family homes, according to an analysis last year by the University of North Carolina at Charlotte Urban Institute. Most of the houses are in the starter home price range, “likely putting the most pressure on the lower end of the market,” said the institute’s Ely Portillo. Most of those purchases were made by one of six major out-of-state companies: Progress Residential, American Homes 4 Rent and Invitation Homes each owned more than 2,000 homes, according to the Urban Institute analysis, while Tricon, Amherst Residential and FirstKey each had more than 1,000 homes. Faced with this surge of corporate landlords, many homeowners associations have begun to fight back.” “Using the same legal authority that allows homeowners associations to punish people who fail to cut their grass, the [Charlotte, NC] Potters Glen board erected a hurdle for investors: a new rule required any new home buyer to wait two years before renting it out.” Other HOA’s in the area followed suit with varied duration of ownership and rental use restrictions. None outright ban rentals but rather are aimed at slowing the rate of return for non-owner occupant investment purchases (with their immediate profit expectations). For better or worse, HOA’s are grassroots democratic endeavors. Essentially they operate where the state is not. Much like unions they rely on active and engaged participation to be effective. And they can be squelched. In Ohio there are a plethora of laws continuously passed within the state legislature denying the Ohio constitution’s right of home rule. Like labor unions, HOA’s are formed and operate where the state does not exist (for the state masks the unbridled market). The implications of all this for Newark Ohio are staggering. As Analysis has repeatedly pointed out, just under half of all Newark residences are non-owner occupant (rentals). By definition HOA’s are comprised of owner occupants. At best, HOA’s are only a partial solution to the expanding domination of the free market.

Silly Summer Shorts

June 27, 2021

            What better time than the start of summer to note disparate reportings that say nothing about each other, yet a whole lot about the world we inhabit. Like the start of summer with its faux nostalgia, the stories all reinforce that the more things change, the more they stay the same. The first story hearkens back to 2016 and the spectacle known as the Trump rally. Then wannabe president held mega, as well as MAGA, events that seemed to attract a cult like following. Many, at the time, pointed out how akin to deadheads these followers were. Deadheads (Grateful Dead aficionados) would travel long distances and put up with great inconvenience in order not to miss an appearance of their favorite band. The world’s largest disorganized religion it was referred to at the time. Well the ex president is back with a rally in Ohio this past week. “’Trying to save American democracy’: Donald Trump returns to rally stage in Ohio” (Michael Collins, USA Today, 6-27-21) covered the June 26 affair in Wellington Ohio. Like cleveland.com did back in 2016, Collins interviewed attendees, revealing the enormous distance and troubles they endured to be able to attend the ex president’s celebration of the Big Lie. Deadheads indeed! “Ohio House passes bill increasing penalties for disobeying or distracting police”  by Anna Staver for the Cols. Dispatch (6-25-21) shows that learning went out the window long before school let out for the summer. “House Bill 22 would expand the crime of obstructing justice to include not following a lawful order, distracting an officer or getting within about an arm’s length of an officer without permission. Violating these statutes would be a second-degree misdemeanor, which is punishable by up to 90 days in jail and a $750 fine. But the crime could rise to a fifth-degree felony if a person’s actions risked physical harm. The penalty would be up to one year in prison and a $2,500 fine.” House Bill 22 proponents conveniently elided the lessons to be learned from the almost half century old War on Drugs (America’s real longest war?). Expansion of the crimes and increasing the jail time/punishment only resulted in greater misery (those incarcerated and fined) as well as greater drug use. The more things change, in terms of those representing “the people”, the more they remain the same; the stuff of CRT! Finally, the oxymoronic summertime solution (and quote) to a problem that isn’t a problem, but rather a condition, goes to Michelle Newman (Newman: The conundrum of the Tuesday Farmers Market, guest column The Advocate, 6-27-21). Seems participation in the Tuesday Canal Farmers Market is a bit “off” (an understatement, to say the least!). “The truth of the matter is that we need customers to attract more vendors, but more vendors to attract customers.” (the Indian Mound Mall suffers from the same condition) To paraphrase the big bucks economists, it looks like the market is trying to tell you something, Michelle.