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re: WSJ: Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming.
Posted on 4/29/24 at 10:47 am to funnystuff
Posted on 4/29/24 at 10:47 am to funnystuff
What about apartment buildings? What about sky rises? What about entire neighborhoods built to rent? Where does it start and stop?
People lose a bid on a home and want to blame it on an institutional buyer. Most of the homes bought by these companies aren’t hitting the regular market. As stout said, an institutional buyer will go to someone like DSDL and offer to buy 5,10, 25 or whatever homes at a price. Those aren’t hitting the market.
If you can’t afford a 20% down payment, save. You shouldn’t own a home and worry about it. Most people try to over buy too early anyway.
People lose a bid on a home and want to blame it on an institutional buyer. Most of the homes bought by these companies aren’t hitting the regular market. As stout said, an institutional buyer will go to someone like DSDL and offer to buy 5,10, 25 or whatever homes at a price. Those aren’t hitting the market.
If you can’t afford a 20% down payment, save. You shouldn’t own a home and worry about it. Most people try to over buy too early anyway.
5
Posted on 4/29/24 at 11:23 am to baldona
quote:
As stout said, an institutional buyer will go to someone like DSDL and offer to buy 5,10, 25 or whatever homes at a price. Those aren’t hitting the market.
Those homes would eventually hit the market if firms weren't buying them before they are finished
Posted on 4/29/24 at 11:51 am to baldona
quote:
As stout said, an institutional buyer will go to someone like DSDL and offer to buy 5,10, 25 or whatever homes at a price. Those aren’t hitting the market.
This isn’t the only way though. They do it multiple ways. Back in the height of it in 2020-2021 they were outbiddding individuals for homes on the MLS in north Texas.
This post was edited on 4/29/24 at 12:01 pm
Posted on 4/29/24 at 12:54 pm to baldona
quote:
People lose a bid on a home and want to blame it on an institutional buyer. Most of the homes bought by these companies aren’t hitting the regular market. As stout said, an institutional buyer will go to someone like DSDL and offer to buy 5,10, 25 or whatever homes at a price. Those aren’t hitting the market.
Lol
First of all, some of these homes are on the market. I’ve owned my second home for years now but when we were buying, we lost to institutional cash buyers twice
also, it’s not as if the institution built the homes and then began renting. They were at one point on the market and would be again if it weren’t for….institutional buyers
This post was edited on 4/29/24 at 1:02 pm
Posted on 4/29/24 at 4:37 pm to baldona
quote:
If you can’t afford a 20% down payment, save
I almost posted in the wall street journal thread about real estate how this advice absolutely screwed a lot of people. Like many things, blanket advice is no substitute for individual decision making.
I never saved 20% for all thee home purchases I made between 2014-2020.
Someone trying to obtain that number may have not only got owned by rocketing prices, their borrowing costs tripled.
This post was edited on 4/29/24 at 4:40 pm
Posted on 4/29/24 at 4:55 pm to baldona
quote:
If you can’t afford a 20% down payment, save. You shouldn’t own a home and worry about it.
There's tons of people who can afford a 20% down payment to avoid PMI but will still get outbid by someone like BlackRock.
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