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re: Almost 30% of 2021 homes sold in Texas went to corporations
Posted on 6/22/23 at 12:59 pm to PeteRose
Posted on 6/22/23 at 12:59 pm to PeteRose
quote:
How can average American compete with this?
They can't. It doesn't take a genius to see what's going to happen. People will complain about housing costs, government will provide tax breaks/incentives for individuals below 150k to rent full housing, investment company will make bank and donate to campaigns, rinse and repeat.
1
Posted on 6/22/23 at 1:00 pm to GreatLakesTiger24
quote:
The future libertarians want
Lord, yeah you're right most libertarians love crony capitalism.
Posted on 6/22/23 at 1:00 pm to BestBanker
That's the part that pisses me off most. Our 401ks are indirectly bidding up prices of the houses people want to retire in. It's bullshite and complete counterproductive.
Posted on 6/22/23 at 1:01 pm to Jcorye1
The biggest issue is the pro-home value policies of fedgov. That philosophy has eliminated risk and incentivized corporate accumulation. It wouldn't take a large correction to really reset this particular market because of the multiplier effects.
ETA: if that slide ever started, fedgov would step in to stop it
ETA: if that slide ever started, fedgov would step in to stop it
This post was edited on 6/22/23 at 1:02 pm
Posted on 6/22/23 at 1:03 pm to SlowFlowPro
I just bought a house, and by the time housing prices fall, inflation will already have my house above what I paid.
Posted on 6/22/23 at 1:05 pm to PeteRose
It kind of is what it is.
Go out, find land, build your own and don’t make it a mcmansion.
Problem solved.
Go out, find land, build your own and don’t make it a mcmansion.
Problem solved.
Posted on 6/22/23 at 1:05 pm to Jcorye1
quote:
I just bought a house, and by the time housing prices fall, inflation will already have my house above what I paid.
Posted on 6/22/23 at 1:08 pm to PeteRose
Got to put all those illegal aliens into homes somewhere and subsidized by the government. Money to be made.
Posted on 6/22/23 at 1:08 pm to Jcorye1
quote:what’s crony about it? Be specific
Lord, yeah you're right most libertarians love crony capitalism.
Posted on 6/22/23 at 1:09 pm to Teddy Ruxpin
quote:
A company could be an LLC that is one dude who owns five rentals.
I really mean the hedge funds with unlimited money.
Posted on 6/22/23 at 1:10 pm to PeteRose
quote:
hese are buyers from Wall Street, a hedge fund or someone outside of the scope of a traditional buyer. So, these are not mom-and-pop investors.
I call BS. Lots of people open an LLC and buy property under that LLC. They have no way of knowing if all these companies are "Wall Street" or "mom & Pop"
Posted on 6/22/23 at 1:10 pm to MoarKilometers
It's not a bold strategy, it's reality. Also, I bought within my means and my mortgage is less than 25% of my net. We will have it paid off in less than 10 years so interest doesn't murder me.
Posted on 6/22/23 at 1:12 pm to philly444
quote:
Need to stop this
Until you want to sell your home in Texas and make a shite ton more than market value.
Y’all sound like the left.
Posted on 6/22/23 at 2:11 pm to PeteRose
My HOA in Frisco, TX just voted to modify our CC&Rs where homeowners are not allowed to rent out our homes. We had already had a ban on short term rentals. We needed a minimum of 75% of the homeowners to approve. It passed overwhelmingly. Owners that currently rent houses were grandfathered in but once they sell the house it cannot be rented by the new owner. Also, hardships can be granted on a case by case basis.
Posted on 6/22/23 at 2:23 pm to Henry Jones Jr
quote:Now extrapolate this to dozens of other business lines around the country and you are a hippie from the 60s!
That is some bullshite. I’m all for businesses making money but buying up homes with cash, driving up prices and keeping regular Americans out of homes is where I draw the line.
Posted on 6/22/23 at 2:24 pm to GetCocky11
quote:Oh, riiight. There's a GOOD REASON you want gubment to step in. All the other times, those are bad reasons. You're a small government conservative with and asterisk.
We just don't want to see our communities turn to shite.
Posted on 6/22/23 at 2:25 pm to RogerTheShrubber
quote:Ah, so now the entire local, democratic experiment has come into question. Capitalism led us to THIS?!!?
Your only hope is zoning, and the commercial guys will outpay you. They can buy more officials than an individual
Posted on 6/22/23 at 2:29 pm to SlowFlowPro
quote:Policies that the pearl clutchers in this thread and elsewhere love and are addicted to, BTW. Just look at how much consternation there is daily on all the boards at no longer being able to get 30 year mortgages at the lowest rates in the history of the product. BIDEN'S FAULT...that we no longer have ultra cheap money
The biggest issue is the pro-home value policies of fedgov. That philosophy has eliminated risk and incentivized corporate accumulation. It wouldn't take a large correction to really reset this particular market because of the multiplier effects.
Posted on 6/22/23 at 2:33 pm to PeteRose
quote:
How can average American compete with this?
That’s the point. The corporatocracy and the government buy up all of the land and real estate and leave the peasants high and dry. The government and corporations don’t give a damn about the average tax paying citizen.
Posted on 6/22/23 at 2:44 pm to genuineLSUtiger
quote:
That’s the point. The corporatocracy and the government buy up all of the land and real estate and leave the peasants high and dry. The government and corporations don’t give a damn about the average tax paying citizen.
Safe to say America doesn't belong to the people anymore.
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