Posted on 08/20/2022 5:34:55 AM PDT by PK1991
Purposeful
They’re probably buying both for the land and homes.
Fiancee and I just bought a house. Rent in Amish apts was $2600 mtg payment $1800. Fortunately we had both sold houses so we had the down payment which many and now many more will never have.
I’m contributing to the “problem” by occupying two homes temporarily (one owned, one rental) while I am in the process of moving my business from one state to another.
The weak spot in that “plan” is with more and more jobs being able to be done from home/remotely, the folks can buy land or houses farther away from the cities.
This crushes the plans to get as many folks to move into the cities.
Back in the early 2000s, in Seattle for instance, they had a stated goal of adding 50% more people to the city’s population.
There are a couple of other companies wanting to buy my house.
Not gonna happen: my 3 kids all live within 30 miles of my house, along with 3 grandkids. I have a ten mile commute to work, so we're locked in for the immediate future.
We just qualified for a HELOC, as our property value has jumped about 50% in the last 18 months. We're going with the fixed rate, we can see where interest rates are headed.
For every place like Atlanta where homes sell fast, you have a dump like Detroit or Cleveland where homes are listed for $10,000 and sit on the market for months.
Because they think they’re immune from all of the repercussions of these actions. And for now, they are.
Time will tell.
I will say this, anyone who laughed at or made fun of the folks that were talking about the Illuminati and secret groups conspiring for this and that, maybe shouldn’t be laughing. They don’t hide it anymore. They have their Bilderberg meetings, WEF, meet in Aspen, it’s right in our faces.
The one and ONLY person that did and tried to do anything about it, had his house raided by the Fed’s two weeks ago.
An entry level job where the entry level salary hasn’t gone up all that much. Rents to the point where they’re unaffordable. Inflation raising the price of everything. Hard to save the 10 or 20% needed for the down payment. Anything less than that and the mortgage is unaffordable.
This isn’t capitalism. This is corporatism. Stossell did a great show on it when he had his show on Fox
Talking to a co-worker who had a side hustle as a real estate agent. He was telling me that this started in 2014-2015. Hedge funds and other large funds buying up entire inventories of foreclosures from the banks.
For many of these people the mortgage payment AND PROPERTY TAXES are the problem, not the down payment.
The mtg and property payment is half what the rent was, you consider that the problem?
How do you know that?
Top WEF Advisor: ‘We Just Don’t Need the Vast Majority of the Population’
https://americanfaith.com/top-wef-advisor-we-just-dont-need-the-vast-majority-of-the-population/
https://m.youtube.com/watch?v=3pXLylHRLyk
These illegals (future Democrat voters) will need to be housed somewhere.
They have no money, so the gov will pay them for ‘housing’.
The ‘housing’ will come from the new landlords Globalist owners (Blackrock, Amazon, etc..).
Me and You (taxes) will foot the bill.
Govmt gets the votes, and Globalists make the profits.
Let me guess: You probably live in a semi-rural area outside a large city where an interesting combination of factors comes into play.
Are you serious?
These aren’t section 8 homes being passed from one investor to another. These are single family homes that are being purchased for prices that a buyer can’t afford, gobbled up by a hedge fund or bezos and then rented out.
And now Bezos wants to gobble up a gigantic health care provider.
And the major employers in your area are: (1) government, (2) colleges, and (3) health care facilities.
The problem with this is tying up that much capital in speculative single family housing can decimate a balance sheet.
Zillow had tons of faith In the cumulative components of their Zestimate they thought they could scale it to make hundreds of millions flipping houses at scale. Instead they wrote down nearly a billion dollars.
You may have $100 billion at your disposal but when you’ve bought up the hot markets by default you’re your own worst enemy being out of bargains. Then You have destroyed the market you’re trying to monopolize.
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