That's awesome! Happy to hear you were able to do so!
Nope im in Michigan. Wife and I have started looking elsewhere once Michigan passed prop 3. Unfortunately the job market is effed and haven't found any jobs worth moving for yet.
If I had a plan to move the population into 15 minute cities, I would first devise a plan to control where that population lives now. Then, when the time is right, activate "The Event" that many are expecting.
Need to preface this so I don't get burned at the stake. I DO NOT support corporate Single Family Landlords. I firmly believe single family homes should either be owned, or be the realm of small and medium scale family owned LLC landlords. The largest one of those I've EVER seen was about 15K houses, and it wasn't in a single metro. It was spread over 17 states. and 24 metros. And that was a large exception, rather than the norm.
Now with that out of the way. This isn't as big a problem as people think it is. Yeah it sucks in the short term, but medium/long term, this isn't a big deal.
There's the 2022 Annual report for Invitation Homes (2023 Annual report isn't available yet), the largest Single Family REIT in North America that owns over 80K Single Family homes in the USA and Canada.
If you look inside of it you'll notice a very important detail. They own about $17 Billion worth of property, but have just under $9.5 Billion in Debt. That means they're using 56%~ leverage.
Now why is the important? Because from what I can tell they use a very basic real estate investment strategy that a lot of normal people use, just scaled to infinity. BRR (Buy, Refinance, Rent). It's one of the simplest strategies. You buy a house in all cash, to simplify the process and lure in the seller with a quick sell, then you just simply refinance the house after it's legally yours to get your money back while renting it to pay off the mortgage and pocket the difference as your income.
It's literally the most simple Real Estate Investment Strategy. Looking back, I'd say that the 56% debt ratio is probably only because they chose to wait until the end of the new year to refinance their properties to further invest. Most of these types of companies will typically use at least 75% leverage to maximize profits.
Now why is all this important? Because in the medium-long term, they're gonna lose their shirt on those houses. It's no secret that real estate is INCREDIBLY overpriced. We're due for more than just a correction. We're probably looking at a crash on the scale of the great depression or worse. Most people worth listening too are saying AT LEAST 70% drop in value, up to 90%.
So yeah, these guys are gonna lose their shirts on these houses, and then they're gonna flood the market, and further drive down home prices. Which will make the entire market infinitely more affordable to the common man.
Now I have seen something like this in 2008. We refinanced in 2011. It was a great investment. Without doing that, we wouldn't be able to afford this right now.
Once the crash happen, buy if you have the money. The housing markets will readjust.
That's kind of the point. The Wallstreet landlords DO have the cash, hence why they're able to buy up entire neighborhoods at once. Then they refinance it to get their money back out. Rinse and repeat.
But in doing so they're perpetually taking on massive amounts of debt in a bloated value market. So when the house of cards crashes, they're gonna go belly up.
Some of these folks have been in America so long they got old and passed away already! In my area, there’s whole suburban neighborhoods with nice houses with 90% Mexican demographics. Most of those guys are Trump supporters too though! Somehow!
All of these crap apartment complexes being built all over the damn place, which is going to bring in tons of traffic, ontop of generally lower middle class folks. Then you have all of these crap neighborhoods going up where every house looks the same and it's just a box with 0 character or an ounce of architectural skill involved. It's commie housing no doubt. Who even buys an apartment with no balcony? Wish it would stop. I'd rather see the farm land TBH.
Then you should be against immigration and for a natural decline in population. I have seen Washington State completely transformed in 15 years. There is not enough land out here for how many people are moving here. The mountain ranges, Puget Sound, Lake Washington etc. limit the available land.
And when tech overlords own most of the housing what else are people supposed to do? You need to make 200k to buy a house in Seattle now. It’s insane.
Of course. But Florida is exploding for obvious reasons, though I simply cannot stand the commie apartments and housing companies today with what they are building.
I left shithole Portland 2 years ago. We sold and bought right before interest rates. I know exactly how it is there. We sold our house there for 100k more than our current house and the one we have now is worth 100k more (IMO). Much better and safer neighborhood, no RVs outside our neighborhood trashing the place. No car being picked outside my neighborhood. bigger yard, bigger house too. It's amazing to me how big of a difference it is and our mortgage is 1k less lol.
If Trump isn’t the President heading into 2025 I am gonna be a King County refugee. The wife and I will probably move by my parents in Central Washington until we find a state we can want to permanently move too.
My top 5 targets are Idaho, Montana, Utah, Tennessee and South Dakota. But I gotta convince the wife on some of those.
That would be good to know who is owning what. I got a letter from Secretary of State saying the feds need to know who is the beneficiary of the business. since I am the only one, I ignored them.
Here in the DC area I hear Debbie's got the buyers dot com advertising all the time on WMAL. Get your asking price and buyer pays all closing costs. Must be corporate buyers.
Solution: don’t live in metro areas. Why would you want to? Live on the outskirts and commute. I know it’s “convenient” to live closer but it’s a hell of alot more expensive and you won’t or can’t “own” anything. I’m content in a small town.
Wouldn’t it be wonderful if Blackrock were to go down with the other globalists and have to surrender the properties and other assets when Trump gets in? A fantasy but I digress.
Im paying $3,200 for a 2 br, 1.5 bathroom. Housing where I live came down $200,000 to $500,000 which is still ridiculous, Plus who has 20% of that to put down on a house that was built in the 50's-60's for a few thousand dollars. Something has got to give.
I'm in the fun situation where the bank told me I couldn't do a 1,400/ month mortgage, so now I'm paying 2550/ month to rent.
Make it make sense.
Move to a different state. I did.
Are you anywhere on the west coast?
That's awesome! Happy to hear you were able to do so!
Nope im in Michigan. Wife and I have started looking elsewhere once Michigan passed prop 3. Unfortunately the job market is effed and haven't found any jobs worth moving for yet.
Keep looking. That's not a good place either.
If I had a plan to move the population into 15 minute cities, I would first devise a plan to control where that population lives now. Then, when the time is right, activate "The Event" that many are expecting.
While California handing out interest free loan to the illegal invaders.
He is hoping to get publicly hung.
I will support hanging him and Bill Gates
Have a blessed rest of the day.
Exactly where I am at. I will never be able to buy a home in western Washington.
Need to preface this so I don't get burned at the stake. I DO NOT support corporate Single Family Landlords. I firmly believe single family homes should either be owned, or be the realm of small and medium scale family owned LLC landlords. The largest one of those I've EVER seen was about 15K houses, and it wasn't in a single metro. It was spread over 17 states. and 24 metros. And that was a large exception, rather than the norm.
Now with that out of the way. This isn't as big a problem as people think it is. Yeah it sucks in the short term, but medium/long term, this isn't a big deal.
https://s28.q4cdn.com/264003623/files/doc_financials/2022/ar/invh_2022_ar_web_bmk.pdf
There's the 2022 Annual report for Invitation Homes (2023 Annual report isn't available yet), the largest Single Family REIT in North America that owns over 80K Single Family homes in the USA and Canada.
If you look inside of it you'll notice a very important detail. They own about $17 Billion worth of property, but have just under $9.5 Billion in Debt. That means they're using 56%~ leverage.
Now why is the important? Because from what I can tell they use a very basic real estate investment strategy that a lot of normal people use, just scaled to infinity. BRR (Buy, Refinance, Rent). It's one of the simplest strategies. You buy a house in all cash, to simplify the process and lure in the seller with a quick sell, then you just simply refinance the house after it's legally yours to get your money back while renting it to pay off the mortgage and pocket the difference as your income.
It's literally the most simple Real Estate Investment Strategy. Looking back, I'd say that the 56% debt ratio is probably only because they chose to wait until the end of the new year to refinance their properties to further invest. Most of these types of companies will typically use at least 75% leverage to maximize profits.
Now why is all this important? Because in the medium-long term, they're gonna lose their shirt on those houses. It's no secret that real estate is INCREDIBLY overpriced. We're due for more than just a correction. We're probably looking at a crash on the scale of the great depression or worse. Most people worth listening too are saying AT LEAST 70% drop in value, up to 90%.
So yeah, these guys are gonna lose their shirts on these houses, and then they're gonna flood the market, and further drive down home prices. Which will make the entire market infinitely more affordable to the common man.
Now I have seen something like this in 2008. We refinanced in 2011. It was a great investment. Without doing that, we wouldn't be able to afford this right now.
Once the crash happen, buy if you have the money. The housing markets will readjust.
Most people can’t get the cash to buy it in the first place though.
That's kind of the point. The Wallstreet landlords DO have the cash, hence why they're able to buy up entire neighborhoods at once. Then they refinance it to get their money back out. Rinse and repeat.
But in doing so they're perpetually taking on massive amounts of debt in a bloated value market. So when the house of cards crashes, they're gonna go belly up.
unless the plan is to get illegals in those houses when the inevitable crash happens
You do realize that by the time this all goes down, Trump will be back in control and mass deportations will start right?
Some of these folks have been in America so long they got old and passed away already! In my area, there’s whole suburban neighborhoods with nice houses with 90% Mexican demographics. Most of those guys are Trump supporters too though! Somehow!
You will own nothing and be happy
And eatz theez bugz
Even Putin is laughing at us.
Trump isn't paying rent though. He lives rent free!
I live rent free too because I own my house. What is your point?
That he lives rent free!
(in their heads)
Oh. Thanks. LOL
Not selling my home!
We are staying put also.
All of these crap apartment complexes being built all over the damn place, which is going to bring in tons of traffic, ontop of generally lower middle class folks. Then you have all of these crap neighborhoods going up where every house looks the same and it's just a box with 0 character or an ounce of architectural skill involved. It's commie housing no doubt. Who even buys an apartment with no balcony? Wish it would stop. I'd rather see the farm land TBH.
Then you should be against immigration and for a natural decline in population. I have seen Washington State completely transformed in 15 years. There is not enough land out here for how many people are moving here. The mountain ranges, Puget Sound, Lake Washington etc. limit the available land.
And when tech overlords own most of the housing what else are people supposed to do? You need to make 200k to buy a house in Seattle now. It’s insane.
Of course. But Florida is exploding for obvious reasons, though I simply cannot stand the commie apartments and housing companies today with what they are building.
I left shithole Portland 2 years ago. We sold and bought right before interest rates. I know exactly how it is there. We sold our house there for 100k more than our current house and the one we have now is worth 100k more (IMO). Much better and safer neighborhood, no RVs outside our neighborhood trashing the place. No car being picked outside my neighborhood. bigger yard, bigger house too. It's amazing to me how big of a difference it is and our mortgage is 1k less lol.
Exactly knowing what you mean. I moved from WA also and a lot happier in the Midwest.
I feel your pain. I moved out of there.
If Trump isn’t the President heading into 2025 I am gonna be a King County refugee. The wife and I will probably move by my parents in Central Washington until we find a state we can want to permanently move too.
My top 5 targets are Idaho, Montana, Utah, Tennessee and South Dakota. But I gotta convince the wife on some of those.
King County is beautiful but unless you are in the circle of elites, you cannot afford a shack. I moved from Vancouver WA. I know.
What did Jefferson say about central banks and homeless and penniless on the land our forefathers conquered?
Central Bank will do that to you.
I believe that Congress is working on a law to require corporations to digest their ownership in residential properties over the next 10 years
That would be good to know who is owning what. I got a letter from Secretary of State saying the feds need to know who is the beneficiary of the business. since I am the only one, I ignored them.
Here in the DC area I hear Debbie's got the buyers dot com advertising all the time on WMAL. Get your asking price and buyer pays all closing costs. Must be corporate buyers.
I would not be surprised it's corporate.
Solution: don’t live in metro areas. Why would you want to? Live on the outskirts and commute. I know it’s “convenient” to live closer but it’s a hell of alot more expensive and you won’t or can’t “own” anything. I’m content in a small town. Wouldn’t it be wonderful if Blackrock were to go down with the other globalists and have to surrender the properties and other assets when Trump gets in? A fantasy but I digress.
Might not be a fantasy. It could happen.
I hope it does! EO 13818 NTM Biden renewed it….weird.
Yes. Lots of strange things.
Im paying $3,200 for a 2 br, 1.5 bathroom. Housing where I live came down $200,000 to $500,000 which is still ridiculous, Plus who has 20% of that to put down on a house that was built in the 50's-60's for a few thousand dollars. Something has got to give.
Something will give soon.
Modern serfdom.
Yes. Definitely.
Here's home ownership rates since 1990.
https://www.statista.com/statistics/184902/homeownership-rate-in-the-us-since-2003/
Sorry, can't see. No account, no access.