During a discussion on protecting single-family homes from large institutional investors with Fox News host Maria Bartiromo in Davos, Switzerland, Scott Bessent demonstrated yet again how much of an out of touch idiot he is with most of America by believing average retired “mom and and pop” investors own, “5, 10, 12 homes.”
This the the Ivory tower Trump’s $500 million Treasury Secretary lives in.
BESSENT: Institutional investors can deduct the borrowing amount, but they can also expense any repairs and depreciation. So we think that it is a good idea to have them out of the market.
We are going to give guidance at some point to see what is a mom-and-pop. Someone may be your parents for their retirement, about 5, 10, 12 homes. So we don’t want to push the mom-and-pops out.
Can this man just shut the fuck up about everything?
“Mom and pop,” is a reference to day gone by when local candy stores and small markets were run by a family back before hug malls and Walmart destroyed the little guy out of existence.
The Daily Beast points out, according to the US Census Bureau, only 65% of Americans own a home, and only 4% own a second home.”
