That can give numbers on how many properties companies like blackrock have purchased over the last several months? I am trying to wrap my head around this whole “housing market shortage” that we have in the US and never have I ever heard or thought this could be an issue
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (21)
sorted by:
They state there is a housing market shortage because there is low inventory. Year over year of houses FOR sale are up. Here in the Raleigh area ibuyers (financial companies) account for 30% off sales, these sales are throwing the market balance off and causing this shortage of inventory.
You can go to Redfin and search just a state and click on housing market insights.
Bullshit.
I live in Ctrl FL and travel all over the N.E. corner for work everyday. I see tons of signs in front of pre existing homes and tons of new home construction from Jacksonville to Daytona Bch.
And where I live, I have to drive at least 30 min to go anywhere and see tons of homes for sale all over while I'm driving my personal vehicle.
I also see tons of signage offering to buy people's homes for cash. But here's the rub, those homes that these "people" buy, aren't being sold. They're being rented out at exhorbatant (sp?) prices.
The avg 2022 rent price for homes in my neighborhood, which has been around since the late 50's, is between $1600-1800/mth now. And most of these homes are 3/1 or 3/2 with no garage, built between 1955-1995. The new home comsteuction going on here are priced ~ $200+K, causing property taxes to skyrocket.
This all tells me Blackrock and others are behind this surge of greed. There's no other explanation because housing prices have been going up here since before Buyden and the inflation that followed.
I wasn’t as clear as i could have been. I think it’s bullshit too. There is no low supply, it’s increased demand from cash buyers that don’t have to worry about appraisals and can manipulate the housing market.
The same people that are inflating the cost of housing are the buyers of mortgage backed securities. They are allowing it not manipulating the housing market to inflate. I wouldn’t be surprised if this was the source of most of the inflation.
How is central Florida? I have a job interview there next week. Lakeland area.