...I think you're confusing realtors with landlords. Realtors help you buy and sell homes, they don't buy homes then rent them out. At least not as a part of being a realtor
I and many others don't really agree with the compensation realtors are receiving. And the national organization is trying their best to make it a racket.
I work in tech around property preservation. The SFR (single family rental) has boomed to the point where it has evolved into a new market, BTR (built to rent). Real estate companies are buying tons of viable land for real estate and building homes they will never sell. They've realized they make more money, that scales with inflation, by never selling homes. So while I get your distinction, the problem is very real, there is nothing for them to sell or for people to buy.
There will always be a need for rentals but I am wholly against corporatized housing. I think the only people who should own homes are individuals, non-primary homes should be heavily taxed, and there should be a hard limit on how many buildings anyone can own.
Housing should not be an "investment opportunity." People shouldn't be able to buy houses just to rent them out.
I think the only people who should own homes are individuals
This so hard!
I %100 feel like this is more of the same: corporations controlling basic needs to extract every dollar they can from people. Renting makes sense, if you can't afford a home you can at least have a place in the intrum. But with companies controlling the entire housing market, this is textbook late-stage capitalism when you don't have a choice. No longer is there competition, they are all working together.
Yeah... it's all super fucked. I just sold my condo (short sale during the last collapse) and am staying with family in the meantime but I am struggling to find a house that won't cost 2/3 of my above-average income. I have a 180k down payment to offer. Prices are that insane by me.
I feel guilty saying it because innocent people will suffer....but I am praying for another collapse. Or at least for homes to go back to normal prices.
I think prices are starting to come back down in my area. I'm seeing homes on Zillow that were bought a year ago put up for rent. Prices are reduced every other month and it still won't rent, so they're selling it.
I'm anxiously waiting. Prices have barely dropped here but the inventory basically disappeared. I have a huge search radius and get 1-2 listings a day max
My town has been pushing for affordable housing. After the complexes were approved the builders listed the units “for young professionals” starting in the low $500s. Totally out of range for most young adults. Anything the federal government does has some root in corporate profiteering.
And who owns these units? I see assistance for buying a home, great, but what's to stop corporations from picking these up? Even if they are apartments, what's to stop the owners from keeping costs artificially high for profit?
One would think they could prevent price changes during the order process... This is just gouging for a little more money from the customer. I'd be surprised if they didn't do it systematically.
Bad business practice too. Are those few cents worth them considering not to choose BK next time? As well as everyone they show/post the picture they took to?
Burger King made a statement that they're not using surge pricing, rather they're reducing the cost during slow hours. Uh... That's surge pricing since they already raised the "regular" cost quite a lot.
Housing Bubble 2: Return of the Ugly
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