Americans being priced out of housing market, study finds..meanwhile institutional investment firms buy up single family homes

  • Thread starter Thread starter harddriver
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harddriver

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The solution 15 minute Cities...........Luv Klaus
 
It's not a plan....It's just your conspiratorial imagination....It wouldn't be a good way to keep housing prices rising making them them unaffordable for the median salaries which can't keep up as well as inflation......NAH..........Go back to sleep.....

 
Well if you want to afford a house in some ritzy, developing area it ain't happening unless you're flush with cash. More resourceful people will just look towards places that blackrock isn't buying up all the inventory. AR, LA, MS, WV, AL, KY, TN, north FL all have affordable housing it's just not gonna be near the hippest metros. Pretty much anywhere in the rural south you can find cheap homes with few people competing for them.
 
My youngest son just moved to LA as he is a youtuber and he and his buddies just got a house to rent. $9,300 per month :eek: That makes the home over $3M over 30 years w no interest. The first house they looked at was a Corporate Landlord scenario and it was not a good experience for them. Now they have a normal landlord that they really like and she provides furnishings and some cleaning but still.

By contrast - I pay $100 a month for my cabin and it is in the middle of paradise on 400 acres in the middle of Mark Twain National Forest. :dunno:
 
311splawndude said:
My youngest son just moved to LA as he is a youtuber and he and his buddies just got a house to rent. $9,300 per month
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Wow. Absolutely nuts. I had looked at LA and NYC in the early 2000's but determined it was way overpriced even back then so we did St. Pete, Nashville, and Austin, all of which are also now stupidly expensive. I'd def have a place in LA if I could afford something nice, if only for the business end of stuff. Good luck to your son on his career path.
 
billsbigego said:
What's with these fucking companies? Fucking tired of these slimeball elites. Greedrock. Nothing is enough for the fucks. They need to be taken out by brute force. Same mindest as the rest of them. Gates, etc..... Nothing to fucking do. Parasites.
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A large percent of the country is invested in those companies via their retirement packages completely unbeknownst to them.
 
84superchamp said:
Mine is in insurance, Mass Mutual and Delaware Life, but not sure if they’re connected.
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They're all connected somehow. One big pool of greedy parasites.
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billsbigego said:
Vanguard, cough cough. Well a small percentage.
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Correct. Couldn't think of it offhand but what I understand is that these are investment firms with a broad range of financial interests outside just real estate.
 
VonBonfire said:
Well if you want to afford a house in some ritzy, developing area it ain't happening unless you're flush with cash. More resourceful people will just look towards places that blackrock isn't buying up all the inventory. AR, LA, MS, WV, AL, KY, TN, north FL all have affordable housing it's just not gonna be near the hippest metros. Pretty much anywhere in the rural south you can find cheap homes with few people competing for them.
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NOOOOOOO I DESERVE to have a 4500 sq ft home on beachfront property!!!! It is my right!!!! Dammit, why won't someone let me force myself into debt and live beyond my means?????? What will the Joneses think of me?????
 
84superchamp said:
A looming financial catastrophe. I’d loose thousands before selling to those vultures.
And Blackrock seems to be everywhere and answering to no one, WTF?
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Because Blackrock is the government. These financials are given management of public pension funds, which they then use to buy up real estate and create a massive bubble. They are doing this to hide the fact the GDP has been -2% since the 2008 crash. This also allows local governments to jack property taxes so they can continue spending insane amounts on themselves because now your home that's really worth $300,000 is worth $800,000 on paper from re-assessment now that houses selling in your area are so much more "valuable."

You can't just buy a house in a place that isn't effected by this so much, because those areas are always economically fucked.
 
japetus said:
NOOOOOOO I DESERVE to have a 4500 sq ft home on beachfront property!!!! It is my right!!!! Dammit, why won't someone let me force myself into debt and live beyond my means?????? What will the Joneses think of me?????
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Pretty much this. The problem is builders make more money building larger homes. I look on trulia and everything is 3 beds 2 baths or more and 2500+ sq ft as a result. I'm looking for 2 beds, 2 baths, 1200-1500 sq ft absolute max. Most homes that size are either self built, custom built, or are older than 1960 and in need of repair, renovation, or demolition. The rest are trailer houses which are fine but require more maintenance and the cheap ass parts are a complete ripoff that you can't get at lowes without a full retrofit.

I built my place on a slab 720sq ft ground level with about 300 sq ft loft and I still think my electric bill it too high in the summer just using a big window unit and running a couple fans. I put a woodstove in because I got wood to cut and that means cheap, reliable heat. Live cheap=play more guitar.
 
Laputan Machine said:
It's not just trendy areas that are being gamed. It's everywhere.
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True, but it's focused most intensely in the metros and suburbs. I mainly only look at acreage holdings in rural areas, project-fixer-uppers, or raw land. They aren't nearly as much of a factor in rural and less desirable areas of the country. I am habitual about browsing real estate and this is what I see; most rural properties with 180+ day for sale times.
 
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