Investors are making up the highest share of homebuyers in 5 years
Investors are making up the highest share of homebuyers in 5 years
www.cnbc.com
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19 comments
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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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We're chickens stuck inside investors slaughterhouse.
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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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zoning laws, and NIMBYism by rich people are the problem. i think moreso with nimbyism.
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We already have more than enough housing, it's just not affordable housing.
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Government officials should not be allowed to own rental property.. problem solved.
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blow the bubble
19 comments
Eat the rich
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.
I don't think you understand.
EAT.
THE
RICH.
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.