According to the Wall Street Journal, Wall Street is buying up residential properties. No good can come from it in my opinion. They will alter the landscape in their image. They don’t own much now, but their ownership is rapidly increasing, and their goals are to increase it considerably and rent out homes in traditional American neighborhoods.
Harris has made it clear that she welcomes big investors into these American neighborhoods to buy the single family home, but, of course, she would. The single family home is the American Dream.
The Wall Street Journal Reports:
Nationally, Wall Street landlords that have more than 1,000 units in their portfolios own just 1% of all of America’s family homes and 4% of all of the houses that are rented out. In most areas, their presence is still too small to have much effect on local housing dynamics. If current trends continue, though, their share of the market for single-family rentals could increase 10-fold by the end of the decade, MetLife Investment Management estimates.
There are a handful of U.S. neighborhoods where investors are densely clustered, particularly in Georgia, North Carolina, Florida and Texas. They have bought more than 1,000 homes in 53 zip codes, putting their ownership of the local housing stock anywhere from 4% to 12%, according to data from real-estate analytics firm Parcl Labs. The data includes some houses temporarily owned by builders, as well as foreclosed properties on banks’ books, but most are held by institutional landlords.
The big investors pay cash, even for homes that need a lot of work. They get their foot in the door and then rent out the homes. They have the upper hand:
Regular home buyers find it tough to compete with these deep-pocketed investors. Corporate landlords are willing to pay in cash and to buy homes that aren’t in great shape. It is easier and faster to sell to an investor than to a first-time buyer who needs time to arrange financing and might try to negotiate on price if a house needs repairs.
They look for the three-bedroom homes, and grab up the bargains:
Wall Street housing investors tend to herd into the same neighborhoods because their algorithms spot the same opportunities. They screen the country for cities and towns with population growth and job openings—places where there is likely to be competition for homes. They prefer to own three-bedroom, suburban properties that are around 1,500 square feet in size and offer a convenient commute downtown. Young parents like these kinds of homes, and landlords like to rent to families because they become sticky tenants once their children enroll in local schools.
Big landlords are also able to sift through reams of data to spot bargains. The 53 zip codes where they are most densely clustered offer cheap housing. The median single-family home price in these areas is $345,400, based on Redfin data—around a fifth below the national level. Rents, however, are only 3% below the national median.
Democrats want to eliminate the single family home since many of the owners are Republican. Democrats are urbanized. This would be most acceptable to many of them.
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Not sure about this one.I watched as homes were bought up in 2008 but also bought a home at the same time. Yes prices are high but I invest in REITS that own land, apartments, hospitals, warehouses, cell towers and many other things and use that money to fund my retirement so can many of you. I agree inflation is high but from watching people that spend money on Starbucks , paying for McDonalds to be delivered (high cost of McDonals) plus del. charge , people that pay high prices for a car for ego instead of investing in their future .
I think maybe people are doing it to themselves. If you saved some along with spending wisely cost would have to come down . After all prices are determined by supply and demand. If you cut back supply goes up prices come down.
Same with Government , vote for the party that spends the least and sooner or later politicians will realize voters want a person that spends less. With all the people that want a free ride it may take a generation or 5 but it will happen
This is where I eat, it can be done. http://www.thebrokenyolkfamilyrestaurant.com/#menu
This is where I live yours may not be this cheap BUT there are places that charge less and provide a great service where you live to.
I lived in California in a 4 bedroom , 3 bath house, I retired in Florida in a 2 bedroom 2 bath house on a lake , lower taxes, lower cost of living, the only things in Florida that cost more are Insurance car and home. I can live with that
Rod ,
Have you ever made 1,000-percent return on a stock? I did. 1,000-percent return in a Year on GI 2004-ish; before acquisition. So, I know the stock market better than anyone. I know it is crooked I know it is corrupt. I know Monopolies Rule! I know to bet on the Corruption! I also know that “Government” has been handing hedge funds TRILLIONS to buy up SFH/RENTS and this is why your housing inflations is in the stratosphere! Who can afford a house? Look at all the Garbage Wages!
This is all intentional, to make the people slaves, and you want to deprive them of a cup of coffee! Seriously, you
re math impaired! I never could have DONE JACK in the markets without BLOCK/Institutional Purchases in the stock market. Do you know how expensive it is to buy blocks of blue chips? The 401k "tinkle account" is a Joke! Meangless in terms of accumulating real wealth. The Problem people have is that their government sold them out for corporate monopolies and hedge funds. Silly Wages cannot compete! People live on Credit. Slaves live on Credit. I made more money in ONE TRADE ( approx 1-month monentum trade, not related to GI) than in an entire YEAR of WORKING as a Healthcare Professional with a License.You do not understand the markets. In most cases, Corporate Monoploies, manufacture supply and demand. Illegal Invasions/Government corruption determines the Price of oil/gas/electric. Most of you are clueless. So ... I would not advise playing with stocks, until you all control your government and its crony capitalist friends and get yourselves proper wages, Seriously. Then, Knock off the 401k and Start buying Insittutional positions to Trade, then youll retire if you play those cards right.
I think you are a scam !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Bye
It’s a land grab, well a housing grab. I recall in 2012 when the hedge funds bought up all the cheap homes from the 2008 financial collapse. In the process they reinflated the housing bubble. They are still renting those homes at obscene prices.
I never liked the idea of corporations buying up housing for profit. It’s unAmerican because it denies the opportunity of millions of individual Americans the joy of home ownership. Congress should act to limit this practice as it is often done across State lines.
I also don’t like it when individual investors buy up multiple properties to rent them out and then balk at rent control. This activity needs reform.
The worst problems with housing are predatory lenders and predatory landlords. And of course complicit government who benefits from higher property taxes.
Investors buying up homes is a great way to begin block busting. Put a few undesirable families in there (at taxpayer expense because the government always sends in the rent check on time often at inflated prices) to create panic and watch the white people flee. After whites have fled, the area usually takes a downturn mostly due to crime and neglect of properties. The value of the home declines to the point where many are bought cheap by investors and then rehabbed to increase their value and monthly rental prices. Throw in a bunch of drugs for people and there you have it, an investors dream as the community dies. God Bless America. sarcasm intended.
Everything right now is riding on the cost of housing and property remaining artificially inflated by all means. The bankers housing bubble they manufactured is about to burst, again. and the panic will start setting in sooner rather than later. All they’ve done for the last 30 years is to try and prevent the inevitable and make things way worse off than they were.
Government will just print them more money and all will be well.
They
ve been doing this for over 20 years! Yes, it must be stopped and reversed; because nobody can afford 500,000. homes in the ghetto! Yes, I got row houses in my ghetto going for over 500k! How will the kids Survive? Rent Slaves? Thats the Agenda.Stop Wall Street Purchases of SFHs and rents; because they have Hedge Funds Piling in Trillions to Dehouse America; while selling their Derivatives Packages!
And, A Home is not a Dream, it is a Necessity. A country that makes a Home a Dream is a Nightmare!
Educate the young people so they will stop voting for socialists. These expensive homes in the ghetto are the ones being bought or rented mostly by young people because they were told it was hip to move to the inner city. These ghettos are perfect for young alcohol and pot adled liberals because they think as long as crime doesn’t affect them personally, its tolerable.
Do you even know why these houses were priced up to GODS GOLDEN STREET LEVELS?
HEDGE FUNDS … WHO HAVE MORE MONEY THEN GOD. They are buying the Homes , using them as collateral and derivatives, then controlling the market to raise prices to GODS KINGDOM LEVELS! Matter of Fact, I think they have GOD Beat.
I guess they`replaying GOD!
Guess who gave it them? NOT GOD. Your Corporate Socialist Government! Do you recall the 20-Trillion given to BIG BANKERS in 2008? And, it never stopped! So, stop BLAMING THE GD CHILDREN , who Work at Mcdonalds, and could never have contributed this Abomination; because they will be Victims of this Abomination. You will all be Rent Slaves. This was all Planned. Your government socialism goes to Corproations to SKIN YOU. You give and get nothing! Figure it out , Already!
Liberals , Weeds, and all the other Nonsense you mention are irrelevent. If you have a problem with the weeds GOD created, then Declare war on Him.
And, this is a-lot bigger than all of you know. The Hedge Funds are also Stopping Building; because they own the Builders! So … No New Homes are being Built increasing the Inflation. Government has to break the Hedge Fund Monopoly on Housing or You
re All Doomed! Wait until your property tax swallows your Home! Youll all be homeless; because you blamed Socialism and had no comprehension of the Problem: Crony Capitalism!