It's the mexicans. The higher quality builds are done by Americans, but the ones you're referring to is what happens when you get a bunch of illegals working on those stupid cookie cutter suburban hell "neighborhoods" where they're all on top of each other and the quality is so far below standard because the illegals will cut any and all corners possible.
There's actually been a noticeable trend of less home inspection rejections because while there's less builds total (due to illegals not being as willing to work on crews now with ICE always on the prowl) the ones that ARE being built (by Americans) are of much higher quality and built to much higher standards.
So give it a few years when we finally clear ALL of them out and things will be much better on this topic.
That was kind of my point? I'm saying the only reason they cut corners as they do is because of the crews full of illegals. Like you said, with all American crews, its MUCH tougher to get away with it because they're likely to report it, or outright refuse to cut corners from the start. Hence, less illegal crews, higher standards and quality, over time things get better. Like most things, its a process
They need to liquidate holdings. Single family homes are just that. Not a bought up subdivision leased out by BlackRock. People need investment in their country so they have skin in the game. It's one part of many others that's necessary to have community cohesiveness.. people owning property are invested in a healthy community. The private equity crowd are all out on their Hampton Beaches in gated communities and walled compounds or on an island like Martha's Vineyard
This is actually one of the few cases where I DO support SOME form of regulation. Commoditizing a single family home is something that should have never been done in the first place.
I'm seeing caps at 50-100 houses, which is reasonable. At $400K average home price in the US, thats $20-40 million in total assets on average, possibly more if they're particularly high value. Even assuming you use a 80/20 debt ratio That's $4-8 million in cash assets towards these properties.
Either way that's more than enough to get into commercial real estate with a 1031 exchange. (IE sell your portfolio and buy some apartment buildings of equal or greater value without having to pay taxes).
My ONLY real concern with this type of thing is specific niche properties like rental cabins. Those aren't really single family homes, but COULD be classified as such depending on the definition, so I'd like some clarification on niche property types
In a lot of cases local regulations (for example, prohibiting any one landlord from owning more than 10% of homes) were overridden by state laws. Many localities still have laws like these on the books, they just aren't allowed to enforce them.
It's the mexicans. The higher quality builds are done by Americans, but the ones you're referring to is what happens when you get a bunch of illegals working on those stupid cookie cutter suburban hell "neighborhoods" where they're all on top of each other and the quality is so far below standard because the illegals will cut any and all corners possible.
There's actually been a noticeable trend of less home inspection rejections because while there's less builds total (due to illegals not being as willing to work on crews now with ICE always on the prowl) the ones that ARE being built (by Americans) are of much higher quality and built to much higher standards.
So give it a few years when we finally clear ALL of them out and things will be much better on this topic.
That was kind of my point? I'm saying the only reason they cut corners as they do is because of the crews full of illegals. Like you said, with all American crews, its MUCH tougher to get away with it because they're likely to report it, or outright refuse to cut corners from the start. Hence, less illegal crews, higher standards and quality, over time things get better. Like most things, its a process
Exactly. Same old story in many industries- the scammers use illegals to do their dirty work
They need to liquidate holdings. Single family homes are just that. Not a bought up subdivision leased out by BlackRock. People need investment in their country so they have skin in the game. It's one part of many others that's necessary to have community cohesiveness.. people owning property are invested in a healthy community. The private equity crowd are all out on their Hampton Beaches in gated communities and walled compounds or on an island like Martha's Vineyard
This is actually one of the few cases where I DO support SOME form of regulation. Commoditizing a single family home is something that should have never been done in the first place.
I'm seeing caps at 50-100 houses, which is reasonable. At $400K average home price in the US, thats $20-40 million in total assets on average, possibly more if they're particularly high value. Even assuming you use a 80/20 debt ratio That's $4-8 million in cash assets towards these properties.
Either way that's more than enough to get into commercial real estate with a 1031 exchange. (IE sell your portfolio and buy some apartment buildings of equal or greater value without having to pay taxes).
My ONLY real concern with this type of thing is specific niche properties like rental cabins. Those aren't really single family homes, but COULD be classified as such depending on the definition, so I'd like some clarification on niche property types
In a lot of cases local regulations (for example, prohibiting any one landlord from owning more than 10% of homes) were overridden by state laws. Many localities still have laws like these on the books, they just aren't allowed to enforce them.
I LOVE this. This is truly "draining the swamp."
🙏
Investment firms of the ultra-rich may suffer?! 😱
Oh noes!
Oh no think of the heckin slumlooorrrddds!! Gotta protect those rich “American” families and their trust funds