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And I believe Wall St buyers deserve credit for stopping the downward home price spiral 12 years ago. Can you imagine what would have happened to home prices if large investor home purchases were outlawed, as some have proposed?
Jahan Hidari
1mo
Let the home prices, reset, people are suffering and you are worried about wall street cronies. It is a shame for this great country economical system.
Ryan Schade
1mo
Yes … the market would have entered correction, unemployment would have climbed, interest rates would have fallen and the most resilient country in the world would have started rebuilding. Would it sting, yep, but so did 2008/2009 and look at where we were in 2019. You either rip off the bandaid or peel it back slowly … each has its consequences. Now you have an inflated housing market based on billions in investor capital that does not accept last years performance for this years. Rents will continue growing to line pockets and offset increases in property taxes and maintenance. Growth rates north of 20% annually should be expected to where one might speculate investors owning 25% + of the US housing inventory. I would guess that in some micro markets today, new building permits are 15-20% of new construction homes being built as individual buyers sit on the sidelines. To someone else’s point, yes, short term rentals have removed hundreds of thousands of properties as well from the market. Together, they have completely changed the residential housing landscape over the past 10 years. Right or wrong, not for me to judge … but at some point the merry go round will stop and someone will be holding the buck. Watching ☕️
Sean Dobson
1mo
The homeownership rate (share of homes owned by occupant) has stabilized. Investors haven’t “pushed” “crowded” or otherwise meaningfully impacted the ability of qualifying buyers to buy. They have however provided access to better communities to deserving renters and upgraded the nations stock of rental properties.
John Sinna
1mo
I can - they would have become affordable for “the people”.
Jerry Kopensky
1mo
Big difference in SFH affordability then vs currently.. https://drive.google.com/file/d/1iu0lYp0J3Qz418mWwJkExKMM2MRg0DYn/view?usp=sharing
Darryl Lucien
1mo
Housing would've been incredibly affordable… Banks would have still been bailed out, and there would be a less aggressive, single-family rental market
Kyle Laska
1mo
Homes would become affordable again?
Sherry Wanyi Li
1mo
I have presented this at Harvard GSD and Appraisal Institute, to debunk three myths.
Real Estate @ BFR Partners & HND Realty, LLC
1moCould you imagine if Wall Street could actually build businesses and not just throw money at them.