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re: 3 corporations now own 19,000 metro Atlanta homes
Posted on 3/11/24 at 12:15 pm to Dixie2023
Posted on 3/11/24 at 12:15 pm to Dixie2023
I totally agree.
People don’t understand how quickly PE can control the market in any specific industry — which should violate certain antitrust laws, but they skirt around it with enough lobbying.
They already control medicine, which is horrifying. They are rapidly on their way to controlling dental.
Last thing we need is them also controlling housing.
They do not increase the quality of anything they touch, they leverage debt and drain profits to distribute to their investors and try and flip the company to a higher bidder within 5 years.
It’s a Ponzi scheme that ruins the quality and increases the costs of any industry it touches.
People don’t understand how quickly PE can control the market in any specific industry — which should violate certain antitrust laws, but they skirt around it with enough lobbying.
They already control medicine, which is horrifying. They are rapidly on their way to controlling dental.
Last thing we need is them also controlling housing.
They do not increase the quality of anything they touch, they leverage debt and drain profits to distribute to their investors and try and flip the company to a higher bidder within 5 years.
It’s a Ponzi scheme that ruins the quality and increases the costs of any industry it touches.
This post was edited on 3/11/24 at 12:16 pm
1
Posted on 3/11/24 at 12:20 pm to JSO24
Can someone explain how PE is hurting the market here? I’m honestly curious.
As a guy that owns multiple rental properties both short and long term, making the numbers work to actually make money is not easy. As said, most of these are likely pre built homes and apartments specifically meant as rentals, if that’s the case what’s the issue?
No one goes to section 8 due to choice, it’s a pita to deal with, they do it due to that’s the last option to make money.
I can’t foresee an issue I’d ever be outbid for a personal residence by PE. Again, to make the numbers work they have to be fairly cheap.
Take a $400k home, to get a 8% return that’s $2800 rent a month before overhead expenses like taxes, insurance, and repairs.
As a guy that owns multiple rental properties both short and long term, making the numbers work to actually make money is not easy. As said, most of these are likely pre built homes and apartments specifically meant as rentals, if that’s the case what’s the issue?
No one goes to section 8 due to choice, it’s a pita to deal with, they do it due to that’s the last option to make money.
I can’t foresee an issue I’d ever be outbid for a personal residence by PE. Again, to make the numbers work they have to be fairly cheap.
Take a $400k home, to get a 8% return that’s $2800 rent a month before overhead expenses like taxes, insurance, and repairs.
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