Investors are making up the highest share of homebuyers in 5 years
Investors are making up the highest share of homebuyers in 5 years
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Eat the rich
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This isn't the rich, that's what makes it so sad. These funds are managed by vultures, yes, but these portfolios are quickly bundled and turned into financial instruments, which in turn portions of them are rolled into other funds, which in turn are sold to groups like teachers pension funds, or fractions sold on Robinhood using fancy names that disguise what is in them. These funds are sold not to the rich but to those trying to stay ahead of the meat grinder that is the American capitalist economy. The rich get fees that are completely divorced from how well the funds perform, meanwhile working folk are inadvertently funding and fueling the machine that is making it impossible for them to afford to buy a home.
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I don't think you understand.
EAT.
THE
RICH.
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Should 10x property taxes on non-primary-residences, and split the proceeds between subsidizing construction of new housing and being distributed as a UBI. Would be better than trying to ban speculative investment in housing outright, because it would be attacking the underlying market factors instead of telling investors they can't try to make a profit.
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I get letters from realtors asking me to sell mine to their “client”. I’m sure they are investors so they can fuck off. I’ll take less money to make sure a family gets my house when sell.
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I get emails and scam phone calls asking me to sell the last house my parents owned when I lived there, they sold that property 4 years ago
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Sell it to them lol
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So can we stop this? Please?
Investors should NOT be allowed to own houses, period. People should own houses. I don't care if a few people have more than one house and rent that out, small time land lords are fine.
These investment companies are the worst and they destroy everything they touch, everything is immediately scorched earth. Meanwhile we're in a very preventable global housing crisis, but hey, let's sell homes to investment companies, because what could possibly go wrong?
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Nah, all landlords are leeches. Rent-seeking is literally parasitic by nature.
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So everyone who has enough money to rent, but not enough to own, should be homeless? That middle ground of renting has to exist, or we're overall in a much worse state of affairs. And you can't rent unless there is a homeowner to rent from.
Also, a lot of people deliberately choose renting over owning, because they value things like not having the financial burden of house maintenance/repairs, or it being orders of magnitude easier to relocate, for whatever reason, and so on.
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So, if I am going to college and I am sick of living in a dorm, i would have to buy a house to live off campus?
Or I get a job offer in another city or state, I have to buy a place to live before I even get to find out if I want to stay long term?
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We're chickens stuck inside investors slaughterhouse.
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Nothing will meaningfully improve until the rich fear for their lives
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This might be an unpopular opinion but housing should be classified as a human right.
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you're right, whether it's popular or not
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While these investors are absolutely soulless and deserve to be called out, there's another aspect of this problem that I feel doesn't get talked about enough.
If we just built enough housing this problem would go away. And it would be easy if we had a system that allowed people to build new things and undercut competition. But we can't because regulations make it nearly impossible to make anything other than houses.
People investing on houses are a symptom of the larger overall problem, of there not being enough fucking housing.
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No. Nobody needs a Bitcoin to live, and Bitcoins are still expensive. We have more houses than we need, and housing is expensive. That's because they're both being used as ponzi schemes.
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That's kinda exactly my point? If someone could print a fuckton of new bitcoins it's value would drop. The same is true for housing. We may have technically enough housing for everyone, but that means nothing if that housing is not also where people want to or need to live.
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zoning laws, and NIMBYism by rich people are the problem. i think moreso with nimbyism.
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If we just built enough housing this problem would go away.
Fun fact: there are more vacant homes than there are homeless. By a factor of 28. We have the homes, we just need to let people own them
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Yes of course, but how do you propose we get that to happen?
Why are these homes empty in the first place? Are they in the same places where housing is needed?
And even if you could house all homeless people, that still leaves the problem of the crushing expense of housing in many places.
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This is absolutely terrible for working people and the economy as a whole. Gatekeeping which ultimately brings down everyone including the investors who hold it above the heads of others.
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Government officials should not be allowed to own rental property.. problem solved.
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Funny how housing prices are conveniently all falling
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blow the bubble
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I hope they all get wrecked when it bursts. This is madness and literal biblical demon levels of evil.
Poor people can't buy homes and those investors are the same people who make everyone else poor.