Home buying companies unable to unload their inventory.
(www.wsj.com)
Comments (17)
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They aren’t stuck with them. All they need to do is to price them to the market (sales price considering interest rate) and they will sell. They are holding them because they don’t want to sell them at a loss. They, being professionals should have known they were buying them at the top of the market. Seems to me they are not good at their job.
Happens every cycle.
Saw it happen in 2008 when we sold one house and bought another house that was better and lower priced...WOWOZA@@@@
I'll be honest. This makes me very happy. How many if these homes were some young American trying with all their might to buy their first home and some asshole investor swoops in with the Ole cash offer and crushes their dreams. I hope they loose money on every one of them.
So do I. Housing prices where I live are insane. My kids live in other states because they can't even afford to rent here. I live in a nice area, but none of the houses, including mine, are worth close to a million dollars. It's nuts. A four bedroom house here costs over 600K.
Same prices here. And a studio apartment is over 1000.00 per month. Ridiculous.
Awful. A two bedroom apartment here is 2800/month. Where my son currently lives (Midwest), it's 900 for a large two bedroom.
Oh wow. That's good for a 2 bedroom these days. I remember before we bought our house 20 years ago, we had a 2 bd 1 bath apartment for 425.00 per month. Now my mortgage is less than the current rent on the same apartment. All I can say is thank God my wife and I busted ass with a couple of jobs to save our down payment back then. No way we could afford a house today.
I know. I feel bad for the twenty and thirty somethings today. On the other hand buying a house when my husband and I were in our late twenties was not easy either. Interest rates on mortgages were 15 to 17 percent. We're savers though (mostly my husband), and got an assumable mortgage, which required a hefty down payment.
Hahaha fucking love it!! Fuck these criminals
Is there a link without a pay wall?
12 foot ladder won't remove the paywall.
I didn’t have to go through a pay wall to access it.
That’s strange. When I follow the link, I can only read the first two paragraphs then is says:
“Continue reading your article with a WSJ membership”
🤔
Archived link:
https://archive.ph/Ezn38
Thanks fren!
The article is comms. The crash is set in motion. Buying it all up was intentional to get citizens to commit to the slavery of owing more than it's worth. Blackrock will gladly buy them out or buy their debt... this is happening as planned and they couldn't be happier to crash the housing market.