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Started By
Message
re: Homebuilders cancelling contracts to sell for more on market
Posted on 3/28/22 at 3:53 pm to msutiger
Posted on 3/28/22 at 3:53 pm to msutiger
quote:
Investment groups accounted for 23% of all purchased homes in Houston in the past year. That number only increases when you filter down to desirable, up and coming neighborhoods that traditional middle class families targeted.
Let's see a link then. What I posted was supported by a bunch of other articles too.
You tinfoil hat people are something else. Everyone is out to get you and you specifically, ESPECIALLY the government
I'd also love to hear how this business makes sense for them. They're paying more than market (allegedly), not flipping them...just holding and paying the note (allegedly) and we're heading into a raising rate environment so home price growth will slow down. And as more inventory comes online there will be further downward pressure.
Do we hate capitalism in general now, or only when it doesn't work to our benefit?
This post was edited on 3/28/22 at 3:55 pm
4
Posted on 3/28/22 at 4:03 pm to Chucktown_Badger
quote:
Let's see a link then. What I posted was supported by a bunch of other articles too.
Here is where he got the black rock story
LINK
quote:
“You now have permanent capital competing with a young couple trying to buy a house,” said John Burns, whose eponymous real estate consulting 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. “That’s going to make U.S. housing permanently more expensive,” he said. The consulting firm found Houston to be a favorite haunt of investors who have lately accounted for 24% of home purchases there. Investors’ slice of the housing market grows—as it does in other boomtowns, such as Miami, Phoenix and Las Vegas—among properties priced below $300,000 and in decent school districts. “Limited housing supply, low rates, a global reach for yield, and what we’re calling the institutionalization of real-estate investors has set the stage for another speculative investor-driven home price bubble,” the firm concluded
Posted on 3/28/22 at 4:06 pm to Chucktown_Badger
quote:
Let's see a link then. What I posted was supported by a bunch of other articles too.
LINK
quote:
Institutional investors have accounted for 24% of home purchases in Houston, according to John Burns Real Estate Consulting.
5 second Google search found at least one article discussing it.
Posted on 3/28/22 at 4:14 pm to Chucktown_Badger
(no message)
This post was edited on 4/14/23 at 2:18 pm
Posted on 3/28/22 at 5:14 pm to Chucktown_Badger
quote:
I'd also love to hear how this business makes sense for them. They're paying more than market (allegedly), not flipping them...just holding and paying the note (allegedly) and we're heading into a raising rate environment so home price growth will slow down. And as more inventory comes online there will be further downward pressure.
The more they buy up houses... the more the can raise rents.
quote:
Do we hate capitalism in general now, or only when it doesn't work to our benefit?
No one is saying we hate capitalism. Crony capitalism supported by a government that is blowing bubbles is a totally different concept.
Go eat a Snickers... you one angry dude.
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