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Message
re: This is what you get buying a DSLD home
Posted on 4/2/22 at 5:18 pm to BamaCoaster
Posted on 4/2/22 at 5:18 pm to BamaCoaster
quote:
Investment firms pouring billions of dollars into housing market, creating shortage of inventory and materials, causing prices to rise, and make homes either unaffordable or unavailable, is manipulation imo.
Please explain HOW them buying houses causes a shortage.
2
Posted on 4/2/22 at 5:22 pm to stout
quote:
Part of my business is that we have to do evictions from time to time. In fact, I have a crew doing one next Wednesday in Hampton, VA. One guy on here used to call me scum for doing that in favor of mortgage lenders. My stance is always if I don't do it then someone else will. We serve a purpose and it's just business.
If you don't pay your bills, you have to go. SOMEONE IS paying those bills and homeowners need to buy what they can afford.
Posted on 4/2/22 at 5:24 pm to Vamos Brandonos
quote:
frick Blackrock to hell.
Not BR but I wish this company had that sort of volume
In one of the trade groups I am in there are some people that are repainting and carpeting 4 or 5 units a week for BR in some markets. They are small mom and pop operations working in a small area and are making a killing.
Posted on 4/2/22 at 5:26 pm to Sid in Lakeshore
quote:
Please explain HOW them buying houses causes a shortage.
They are turning them into rentals.
One the one hand they are just taking advantage of the younger generation that doesn't want the hassle of home ownership and has no comprehension of asset management.
On the other hand they are transforming a market that has historically been geared towards ownership. Part of the slide towards socialism IMO. You'll own nothing and you'll be happy.
Posted on 4/2/22 at 5:31 pm to Sid in Lakeshore
quote:
Please explain HOW them buying houses causes a shortage.
The homes are turned into rentals, decreasing inventory for potential individual home-owners.
Home ownership has been one of the best avenues towards wealth for the middle class, and it is increasingly getting out of reach.
This post was edited on 4/2/22 at 5:33 pm
Posted on 4/2/22 at 5:31 pm to stout
What town? What's your degree in?
This wasnt an attempt at taking a shot. I'm curious as to what degrees lead to this type of business.
This wasnt an attempt at taking a shot. I'm curious as to what degrees lead to this type of business.
This post was edited on 4/2/22 at 6:20 pm
Posted on 4/2/22 at 5:32 pm to SlowFlowPro
quote:
define "manipulated"
They buy 2 dozen houses in a market then they start buying houses one at a time 25% over market. Lets make it easy. 24 houses for $200k each then 3 houses at 250k each. They spend 5.5 million and now have properties that appraise at 6.75 million since the appraiser has to use the most recent comps. They leverage this and do the same in another neighborhood. It is market manipulation. Oh, and they do it on a much larger scale and often at higher extremes.
Posted on 4/2/22 at 5:33 pm to Vamos Brandonos
quote:
One the one hand they are just taking advantage of the younger generation that doesn't want the hassle of home ownership
This is a lie. The younger generation is priced out of the market of buying in desirable areas.
The problem is that interest rates have been artificially low from government manipulation for far too long and local governments overregulate housing zoning to artificially decrease "normal" rental units (primarily in desirable areas).
You have people on this forum who flip out when new zoning regs come out that allow apartments in their single family-zoned areas, bragging when they refi their mortgage on that home for historically low rates, and then complain when large companies take advantage of the artificial market conditions they prefer.
Posted on 4/2/22 at 5:33 pm to stout
Where is the house / neighborhood?
Posted on 4/2/22 at 5:36 pm to SlowFlowPro
quote:
The younger generation is priced out of the market of buying in desirable areas.
What is crazy is that the "younger generation" that we are talking about are people in their 30s.
No reason why a two-parent working middle class family in their 30s shouldn't be able to afford a decent house in a nice area with good schools.
Posted on 4/2/22 at 5:36 pm to armsdealer
quote:
They buy 2 dozen houses in a market then they start buying houses one at a time 25% over market. Lets make it easy. 24 houses for $200k each then 3 houses at 250k each. They spend 5.5 million and now have properties that appraise at 6.75 million since the appraiser has to use the most recent comps. They leverage this and do the same in another neighborhood. It is market manipulation. Oh, and they do it on a much larger scale and often at higher extremes.
The problem isn't the companies. It's the government.
Allow more dense housing in desirable areas. Stop permitting local governments to create those desirable areas by over-relying on single-family zoning regs.
And raise interest rates to a more natural level and let the market fall out on these investment firms that have primarily been successful only when the government gives them basically free leverage and an articially-hot market.
But you have to accept the side effects of these plans, too.
Posted on 4/2/22 at 5:37 pm to GetCocky11
quote:
No reason why a two-parent working middle class family in their 30s shouldn't be able to afford a decent house in a nice area with good schools.
The very mechanism that often creates the "nice area" is the primary reason why it's gotten so expensive.
Posted on 4/2/22 at 5:41 pm to GetCocky11
quote:
No reason why a two-parent working middle class family in their 30s shouldn't be able to afford a decent house in a nice area with good schools.
Delusional. You really have no clue. As someone that was finally in a good position to buy and now is being priced out of the good areas, you seem to have little clue what it's like. I've made over 10 offers, multiple offers over asking price, and half the time cash buyers swoop in and steal it. It's unprecedented and there absolutely no "starter homes" where I'm looking.
Posted on 4/2/22 at 5:44 pm to thelawnwranglers
quote:
quote:
The client is a hedge fund
I am free market but find that disturbing
So I am and when you see this and remember that we had to make laws to stop the free market from exploiting children, we need to put more thought into capitalism.
Posted on 4/2/22 at 5:47 pm to SlowFlowPro
quote:
The very mechanism that often creates the "nice area" is the primary reason why it's gotten so expensive.
Plus, the definition of a starter home has drastically changed. the first-time homebuyers of today want a newer turn-key house with the latest and greatest right out of the gate. Hardly anyone is willing to buy an older house and put in sweat equity anymore. That has really changed from just 15-20 years ago.
Posted on 4/2/22 at 5:49 pm to Sid in Lakeshore
quote:
by Sid in Lakeshore
From Louisiana.
Live in Gulf Shores.
Own an insurance agency and construction company.
Also, I’m running for state rep.
What are you doing with your life?
Posted on 4/2/22 at 5:51 pm to tiggerthetooth
quote:
Delusional. You really have no clue. As someone that was finally in a good position to buy and now is being priced out of the good areas, you seem to have little clue what it's like. I've made over 10 offers, multiple offers over asking price, and half the time cash buyers swoop in and steal it. It's unprecedented and there absolutely no "starter homes" where I'm looking.
You misunderstand what I'm saying. I absolutely have a clue because I'm looking right now.
Posted on 4/2/22 at 5:52 pm to BamaCoaster
quote:
From Louisiana.
Live in Gulf Shores.
Own an insurance agency and construction company.
Also, I’m running for state rep.
Damn. Friendly advice. This is the OT. We are going to post your worst campaign photo by tomorrow
Posted on 4/2/22 at 5:55 pm to thelawnwranglers
quote:
The client is a hedge fund
I wish someone would send a hedge fund my way. Got a property in Nola that would make a great rental and would love to sell.
Posted on 4/2/22 at 5:55 pm to rowbear1922
quote:
DSLD homes Level, DR Horton, All of them are terrible starter homes. You pay $250k+ for a home hopefully for 5 years before getting a forever home, hoping that the value will go up just to find out that the newer homes by these companies are still selling for the same price but newer so you can never get any money back as a buyer
Rental is different
This is categorically false and you're a frickin idiot.
We paid $206k for our 3br/2ba Home in 2019 and it's still in perfect condition.
You don't know shite about frick, RowGayBear.
And the OP has a hard-on for cookie-cutter hoods. NOT EVERY CONTRACTOR IS THE SAME ON THESE NEIGHBORHOODS.
Our foundation is excellent. Our structure is excellent. The only complaints in our entire neighborhood are around the cheap fixtures and paint.
frick you snotty frickin Mean Girl fricks. These builders cover ALL Closing costs and then some, making these new homes more affordable than older existing homes.
The misguided and hyperbolic hate for these neighborhoods makes you faqqots look like these ignorant whores.
This post was edited on 4/2/22 at 6:14 pm
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