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Almost 30% of 2021 homes sold in Texas went to corporations
Posted on 6/22/23 at 12:31 pm
Posted on 6/22/23 at 12:31 pm
LINK
" Nearly a third of all homes sold in Texas last year went to a company or corporation that paid in cash, according to a report from the National Association of Realtors.
Texas had the highest rate in the U.S. – 28 percent – of homes sold to companies and corporations, otherwise known as institutional investors."
" Investors are being driven by Texas’ growing population and appeal. But there are concerns about how this may impact first-time home buyers who are unable to compete with investors paying in cash."
" These are buyers from Wall Street, a hedge fund or someone outside of the scope of a traditional buyer. So, these are not mom-and-pop investors. "
How can average American compete with this?
" Nearly a third of all homes sold in Texas last year went to a company or corporation that paid in cash, according to a report from the National Association of Realtors.
Texas had the highest rate in the U.S. – 28 percent – of homes sold to companies and corporations, otherwise known as institutional investors."
" Investors are being driven by Texas’ growing population and appeal. But there are concerns about how this may impact first-time home buyers who are unable to compete with investors paying in cash."
" These are buyers from Wall Street, a hedge fund or someone outside of the scope of a traditional buyer. So, these are not mom-and-pop investors. "
How can average American compete with this?
41
Posted on 6/22/23 at 12:33 pm to PeteRose
We put in 8-9 offers before we bought our house in Austin in 2022. Everything was selling for over asking, all cash.
Posted on 6/22/23 at 12:35 pm to PeteRose
I’m free market capitalist but I have a problem with this. I just don’t think it’s good for communities or the country
Posted on 6/22/23 at 12:35 pm to PeteRose
Need to stop this
Posted on 6/22/23 at 12:36 pm to PeteRose
quote:
How can average American compete with this?
They can’t.
And as much as I don’t care for government overreach, some cities/states have started passing laws to push out some of these corporations. I’m curious as to whether it will actually be successful though.
Posted on 6/22/23 at 12:36 pm to PeteRose
The future libertarians want
Posted on 6/22/23 at 12:37 pm to PeteRose
Company or corporation could easily be Joe Blow with only 4 rental properties under a company/llc/whatever, not necessarily Blackstone.
I saw the
But gonna need some tangible proof.
I saw the
quote:
These are buyers from Wall Street, a hedge fund or someone outside of the scope of a traditional buyer. So, these are not mom-and-pop investors. "
But gonna need some tangible proof.
This post was edited on 6/22/23 at 12:39 pm
Posted on 6/22/23 at 12:37 pm to 14&Counting
quote:
I’m free market capitalist but I have a problem with this.
Its cronyism.
Posted on 6/22/23 at 12:37 pm to PeteRose
These investment trusts started several years ago, I had a buddy who invested in one in 2012. They've really taken off the last few years and that 30% figure is probably much higher for the big metro areas of Houston, Austin and DFW.
Posted on 6/22/23 at 12:38 pm to PeteRose
quote:
companies and corporations, otherwise known as institutional investors
I assume LLCs count, so it may not be mega corps or conglomerates or investment vehicles.
quote:
How can average American compete with this?
If our government allows homes to reach their equilibrium prices (which will be substantially lower than current levels), these investments will lose trillions.
This post was edited on 6/22/23 at 12:39 pm
Posted on 6/22/23 at 12:38 pm to MoarKilometers
quote:
Company or corporation could easily be Joe Blow with only 4 rental properties under a company/llc/whatever, not necessarily Blackstone.
Joe blow with a few rentals isn't buying with straight cash above asking
This post was edited on 6/22/23 at 12:40 pm
Posted on 6/22/23 at 12:39 pm to 14&Counting
quote:It's been amazing to watch the left turn into the right.
I’m free market capitalist but I have a problem with this. I just don’t think it’s good for communities or the country
Posted on 6/22/23 at 12:40 pm to BluegrassBelle
Posted on 6/22/23 at 12:40 pm to JohnnyKilroy
quote:
Joe blow with a few rentals isn't buying for cash above asking
I don't think this is entirely accurate.
Posted on 6/22/23 at 12:40 pm to 14&Counting
quote:
I’m a free market capitalist but I have a problem with this. I just don’t think it’s good for communities or the country
Posted on 6/22/23 at 12:40 pm to 14&Counting
quote:
I’m free market capitalist but I have a problem with this. I just don’t think it’s good for communities or the country
You should call your reps or senators. I'm sure they'll give a shite.
Posted on 6/22/23 at 12:40 pm to MoarKilometers
That many Joe Blows’s consistently dropping ~$500k+ cash on investment properties? Nah
Posted on 6/22/23 at 12:42 pm to PeteRose
Friend,
What a timely topic. Although many people say the government should do nothing but build roads and sustain a military, the current in American property ownership goes against the individual and families. Buying homes and condos has become an investment game for big business and not so big business. Just read the Money Board, which has become crowded with fanatics bandying the idea that multiple property ownership is the way to early retirement. They, if they had their way, would have the average American become a vassal, always bound to a life of serfdom, subsidizing their retirement at 45. While great for them, it deeply injures the Republic.
America needs as many families as home owners as possible. Sometimes the government does need to step in because the free market does not always produce the American dream. Americans invested in their homes as pioneers and stakeholders, not renters, is one of the most important keys to making America strong. That and returning to the teaching of Jesus that teach us to give to the poor, support the widow, orphan and prisoner, return no evil for evil, honor our elders, and love God above all else.
Yours,
TulaneLSU
What a timely topic. Although many people say the government should do nothing but build roads and sustain a military, the current in American property ownership goes against the individual and families. Buying homes and condos has become an investment game for big business and not so big business. Just read the Money Board, which has become crowded with fanatics bandying the idea that multiple property ownership is the way to early retirement. They, if they had their way, would have the average American become a vassal, always bound to a life of serfdom, subsidizing their retirement at 45. While great for them, it deeply injures the Republic.
America needs as many families as home owners as possible. Sometimes the government does need to step in because the free market does not always produce the American dream. Americans invested in their homes as pioneers and stakeholders, not renters, is one of the most important keys to making America strong. That and returning to the teaching of Jesus that teach us to give to the poor, support the widow, orphan and prisoner, return no evil for evil, honor our elders, and love God above all else.
Yours,
TulaneLSU
Posted on 6/22/23 at 12:43 pm to PeteRose
quote:
How can average American compete with this?
The average American doesn't compete with this. That is the reality.
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