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re: WSJ: Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming.
Posted on 4/29/24 at 4:22 pm to CatfishJohn
Posted on 4/29/24 at 4:22 pm to CatfishJohn
quote:So pick a market and give a denominator that you think isn't misleading.
The 82 million number really is misleading because these institutional investors aren't everywhere. They are not in most places.
But the places they are, they are very influential on supply/demand and market prices.
It's like saying there are only 987 Whataburgers in the US, but there are hundreds of thousands of cities/municipalities! Yet if you live in San Antonio you can't fart without someone at a Whataburger being able to smell it. Damnit, now I'm hungry.
1
Posted on 4/29/24 at 4:40 pm to Big Scrub TX
quote:
So pick a market and give a denominator that you think isn't misleading.
quote:
Three corporate landlords from out of state own over 19,000 homes for rent in metro Atlanta
17,000 total homes were bought/sold last year in Atlanta out of 284,000 residential properties (this includes mostly apartments and attached properties). Best number I can find is around 80,000 detached homes. That is a meaningful amount owned by corporate landlords.
And that denominator is still misleading because they aren't buying the super expensive multimillion dollar homes or the slums in the hood. They are buying from the pool of that middle 70-80% of single family homes, the type of home the IRL OTer is in the market for.
This post was edited on 4/29/24 at 4:42 pm
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