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re: What should be done about investors buying up homes?
Posted on 5/20/24 at 1:38 pm to Big Scrub TX
Posted on 5/20/24 at 1:38 pm to Big Scrub TX
loans for investment properties are the highest rate on any type of mortgage require a min 20% down 30% down if you don't want to pay discount points for the rate. require 6 months liquid reserves for each property that you own. Its super regulated. Inventory is the real issue, builders can't keep up with the demand. They really don't want to keep up with demand because it will then drive down the price of the properties they are building in the future. Last local regulation on new builders is out of control. I work with a builder out of Hammond the cost has gone up 30% for land in the last 4 years due to local regulations on lot size, home size, and the permit and zoning requirements. Local govt's stuffing their pockets don't help and we all know Louisiana is full of this.
Posted on 5/20/24 at 1:42 pm to hawkeye007
quote:
loans for investment properties are the highest rate on any type of mortgage require a min 20% down 30% down
Locally theyre paying cash, well over asking price.
There are enough of them to frick up the housing market for residentials.
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