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re: Blackrock is buying every single-family house they can & paying 20-50% above asking price
Posted on 6/10/21 at 7:17 am to Penrod
Posted on 6/10/21 at 7:17 am to Penrod
quote:
it was a sale of hundreds of homes packaged as one asset.
Why are you only pointing out that one transaction and ignoring the rest? Even so, they still paid over market for those and that hurts the market. It raises comps and takes a lot of inventory off of the market at once while there are still a lot of buyers ready.
quote:
Second, those who want to own homes can still do so; they just can’t in that subdivision.
Are you really this stupid or just being obtuse? Of course they can still own but this is creating artificial shortages and will drive prices to where some of those buyers turn to renters.
This post was edited on 6/10/21 at 7:39 am
1
Posted on 6/10/21 at 7:21 am to stout
quote:
Are you really this stupid or just being obtuse? Of course they can still own but this is creating artificial shortages and will drive prices to where some of those buyers turn to renters.
Well I mean that's the entire point of them buying up so many homes. Make money on the rent, watch prices still go up until the bubble pops, dump the houses, make a killing, watch entire neighborhoods go Section 8 as the government keeps expanding welfare programs for votes.
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