Posted on 06/13/2021 11:57:39 AM PDT by Hojczyk
A conversation on Twitter this week resurfaced a Wall Street Journal report from April about big investors getting into real estate, overbidding normal people to do so. “If You Sell a House These Days, the Buyer Might Be a Pension Fund,” the title says. “Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.”
The resulting social media traffic made the article No. 1 on the WSJ website on June 10.
“You now have permanent capital competing with a young couple trying to buy a house,” real estate consultant John Burns told the Wall Street Journal. “That’s going to make U.S. housing permanently more expensive.” His firm estimates “that in many of the nation’s top markets, roughly one in every five houses sold is bought by someone who never moves in.”
More Renters Mean Worse Neighborhoods This government-caused financial disaster waiting to happen won’t only have financial effects. It will have social effects. One is causing fewer people to be homeowners and effectively taking away wealth from those who do manage to buy a home but at a government-bubbled price.
Giant asset management firms driving up home prices forces more people to rent who would own if the prices weren’t so inflated. It also increases the ratio of renters to owners. In addition, government rules require those who own numerous properties to reserve a percentage for federally subsidized low-income renters, thereby forcibly injecting into communities people whose behavior generally is far worse than those of their neighbors, since nowadays poverty and antisocial behavior is correlated in the United States.
(Excerpt) Read more at thefederalist.com ...
Well someone in Florida is buying them ...three days is a long time..
Non issue.
Awful.
The US slowing becoming a company town and it’s coming from all sides. Yeah, and I believe it’s called fascistic communism.
Add a government-imposed COVID lockdown and a government-imposed eviction moratorium to the mix, and I’d say residential rental properties might be the dumbest investment on the planet for a company like BlackRock.
“...forcibly injecting into communities people whose behavior generally is far worse than those of their neighbors...”
A Racist observation, but true based on Science.
Soliciting “immigrants” possessing a lower IQ than the National Norm is NOT going to help.
We’re CNN Zucked.
Not to worry. BlackRock will get in bed with Pedo Jo and will get exempted from everything a private landlord has to put up with.
It’s called corporate cronyism to further leftist social planning. Don’t forget the bailouts.
bookmark
If they want to get serious, then there is another factor, a factor which dare not say it's name. This other factor closely correlates with antisocial behavior.
Always remember: “Possession is 9/10ths of the law.”
Just means you have to pay more for a house or pay more for rent ...but don’t worry if the housing bubble bursts you get to pay to bail out the companies that bought all the houses in the first place !
Living in the City looks like it might get entertaining, so glad I moved to the mountains years ago
I own rental property and thank god there are no problems with squatters...yet.
Corporate Communism.
Not all ways of making money in a free market are morally right.
Like people clearing out every gas station and pharmacy before a shortage to resell to desperate neighbors. It is becoming illegal in many places because we recognize it as morally wrong.
Anything essential that cannot be easily produced (like land) is ripe for exploitation by those with high resources and low morals.
Just because you can make money from it does not mean you SHOULD...
The SCUMBAGS at BLACK ROCK are in the middle of this grab!
Melanin.
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