re: Is the mass new home construction industry good for our country?

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That said, increasing housing inventory can alleviate the home affordability issues that we're seeing across the country

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so can decreasing legal and illegal forms of immigration. but that’s not a price PowerBottom is willing to pay.

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you think homes are expensive now, wait until they have to pay Americans to build them. They'll go broke or not get built. And it ain't just housing. Which is what makes the MAGA platform so asinine. Alright, you don't want illegals doing the job? Then you do it. Or pay someone else enough that they will. The whole thing is just absolute short sighted nonsense

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another TD “Moderate” who supports using illegal immigrants as cheap labor. I’m shocked I tell you.

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That's obviously a problem

But you don't fix inventory issues by limiting supply

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No you don't but you could increase supply by limiting the purchase of residential real estate by large investment companies like Black Rock and others. House inventories would also rise quite a bit if millions of illegals had to exit the country. I know for a fact many illegal immigrants are buying homes with other illegals, it's not unusual to have 2-3 illegal immigrant families sharing a home.

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No you don't but you could increase supply by limiting the purchase of residential real estate by large investment companies like Black Rock and others.

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I think you're confusing Black Rock with Blackstone

But I generally agree with you

It's a little bit of a hassle because a lot of them use other shell companies to buy the homes

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Progress Residential (about 85,000 houses), a privately-held company.
Invitation Homes (about 80,000 houses), a publicly traded REIT [INVH]. The company was formed by Blackstone during the Housing Bust in 2012 and later spun off to the public. Blackstone sold is last shares in 2019.
American Homes 4 Rent (about 60,000 houses), a publicly traded REIT [AMH]. The company was founded during the Housing Bust in 2012, and was spun off via IPO in 2013. In 2016, it merged with American Residential Properties. At the time, AMH owned 39,000 houses, and American Residential owned 9,000. Combined, it became the largest landlord at the time.
FirstKey Homes (about 50,000 houses), privately-held company.
Blackstone got back into single-family rentals by acquiring other big landlords. In 2021, it acquired Home Partners of America with 17,000 rental houses. In January 2024, Blackstone announced it would acquire Tricon Residential, a publicly traded Canadian company [TCN], with about 38,000 houses in the US and multifamily apartments in Canada. When the Tricon deal closes, Blackstone will once again be one of the biggest single-family rental players. Blackstone is not acquiring individual houses.
These five companies combined own about 330,000 single-family rentals, or about 2.4% of all single-family rentals, and about 0.3% of the 95 million single-family houses in the US (occupied and unoccupied, attached and detached).

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Then there is the apartment side

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There are 34 million rental apartments in the US, of which about 29 million are occupied. The larger properties are mostly owned by larger landlords, given the size of the investment. And there are many very large multifamily landlords.

Blackstone announced last week that it would acquire a publicly traded multifamily REIT, Apartment Income REIT, or Air Communities, which owns about 22,000 apartments, for $10 billion. But even with this big $10-billion acquisition, Blackstone will be just a small-ish player among the giants.

The largest players in the apartment rental business (data via the NMHC):

MAA (100,000 apartments)
Greystar Real Estate Partners (100,000 apartments)
Morgan Properties (94,000 apartments)
AvalonBay Communities (80,000 apartments)
Equity Residential (80,000 apartments)
Cortland (77,000 apartments)
Nuveen Real Estate (about 73,000 apartments)
Monarch Investment & Management Group (67,000 apartments)
The Related Companies (71,000 apartments)
Edward Rose Building Enterprise (70,000 apartments).

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LINK

Article is from April of last year but I'm sure the numbers are still similar

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And I'm all for reforming legal immigration to suit the needs of our work force

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People used to build their own homes. It’s not that complicated.

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I misplaced my 1925 Sear's Catalog.

My biggest gripe is when housing construction vastly outpaces road construction.


I'm in an area on the outskirts of matthews, nc. Which is a gateway into Charlotte. Our roads are mainly just generic roads, one lane in each direction. In the last 5 years... 5 huge apartment complexes, 4 townhouse areas and about 3 huge suburban housing neighborhoods have been built with one more in the process of being built. But the roads have stayed the same. Now, traffic is insufferable.

We've several roads currently being worked on, from roundabouts scheduled to be installed, and some roads being expanded from 2 to 4 lanes. But they've been working on this shite for 4 years, and not a single project has been completed yet.

I'm a little pissed that illegals weren't used. Illegals were used to build all the shoddy housing that blew up our population.. but the road construction company only brings on Americans and uses somewhat small crews. Most people never last more than a few weeks. And the people who do last, are asked to work 80+ hours a week to make up for the lack of help. Those guys are making a killing for the time they are putting in, but the progress is moving at a snail's pace.

Its terrible nobody wants to live like this but these "look nice but actually shitty" mixed income mixed development apartments are NWO bullshite. They all look like arse in 10 years

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Yeah, but if the town I live in is any indicator of the rest of the country, people here are just as apt to buy an old house, tear it down, and build a new one on the same lot as they are to buy a new house in a new subdivision.

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Do you live in California or a densely packed east coast area?

Teardowns aren’t common in large chunks of the country because the land values aren’t stratospheric.