I was not expecting the volume of homes bought by investors. In many markets it is 1 in 5 to 1 in 4 homes are purchased by permanent capital. 

Your average American cannot compete with this as many of these properties are purchased at 20% over asking. 

The long term problem is for many people, owning a home is their only path to equity. If this continues, most average Americans will be permanent renters. They will be shut out of wealth. 


Source:
https://www.wsj.com/articles/if-you-sell-a-house-these-days-the-buyer-might-be-a-pension-fund-11617544801


Tin Foil Hat Rant: I see this by me too. I live in a rural area and tillable acreage is scooped up by really big operators. Farmer Joe milking some cows won't make it. Woods is sold to mostly wealthy people who use it for hunting or vacations get-a-ways. The acre or two the old farm house sits on is sold at a stupid sum. Or it is demolished and some giant mansion is built and sold for an even stupider sum. Bought by some wealthy out-of-towner of course.

Someone please explain to how this will not start to look like some feudal system in time. And I got it. Wealth only moves in one direction: into more consolidated and larger sums. The system (whichever system we are talking about) is designed by those whom it benefits. Bill Gates is allowed to dominate who uses what OS via Microsoft. Then he starts sticking his hands in pharmaceuticals. Next he starts buying up thousands of acres of farms and ranches. 

This is not new. 120 years ago we had to break up the trusts. I do not like the idea of government stepping into what is essentially the private sector. However, what other means do Americans have to tell wealthy entities they cannot play by one set of rules they make for themselves and expect everyone else to play by a starkly different set of rules .... they make for us via our "representatives". There is a limit. I think Americans need to regain their humanity, their voice, and their hutzpah and reassert themselves.

I just received a card in the mail yesterday that someone wants to buy my house, as is, all cash.  No name on the card, just and address and number to call if I want to sell.

Houses are in high demand right now. The real estate people are making tons of money! It's a sellers market. It IS a great time to sell, but then you have to think about buying something else, which could become a problem. Most properties are snatched up as soon as they go on the market. So, you end up paying much more than your house brought, or worse, having to rent the rest of your life. 
I don't like having someone else tell me I can't hang a picture here or there, or that I can't paint my room the color I like. And, I don't like people coming into my home to do surprise "inspections" either. 

I think they are buying up all the houses to rent out to all the illegals they are allowing in, or, like you said, to just keep the average American from reaching the American dream.

(06-10-2021, 01:33 AM)ABNARTY Wrote: I was not expecting the volume of homes bought by investors. In many markets it is 1 in 5 to 1 in 4 homes are purchased by permanent capital. 

Your average American cannot compete with this as many of these properties are purchased at 20% over asking. 

The long term problem is for many people, owning a home is their only path to equity. If this continues, most average Americans will be permanent renters. They will be shut out of wealth. 


Source:
https://www.wsj.com/articles/if-you-sell-a-house-these-days-the-buyer-might-be-a-pension-fund-11617544801


Tin Foil Hat Rant: I see this by me too. I live in a rural area and tillable acreage is scooped up by really big operators. Farmer Joe milking some cows won't make it. Woods is sold to mostly wealthy people who use it for hunting or vacations get-a-ways. The acre or two the old farm house sits on is sold at a stupid sum. Or it is demolished and some giant mansion is built and sold for an even stupider sum. Bought by some wealthy out-of-towner of course.

Someone please explain to how this will not start to look like some feudal system in time. And I got it. Wealth only moves in one direction: into more consolidated and larger sums. The system (whichever system we are talking about) is designed by those whom it benefits. Bill Gates is allowed to dominate who uses what OS via Microsoft. Then he starts sticking his hands in pharmaceuticals. Next he starts buying up thousands of acres of farms and ranches. 

This is not new. 120 years ago we had to break up the trusts. I do not like the idea of government stepping into what is essentially the private sector. However, what other means do Americans have to tell wealthy entities they cannot play by one set of rules they make for themselves and expect everyone else to play by a starkly different set of rules .... they make for us via our "representatives". There is a limit. I think Americans need to regain their humanity, their voice, and their hutzpah and reassert themselves.

believe it or not regulation, and antitrust are a good thing, other wise you'll have another Rockefeller, Carnegie, Morgan
Ma Bell and countless others.

the bad thing about it now is, politicians want more than they did back then and the big companies are paying, especially China owned companies, insurance companies, pharmaceutical companies, telecommunications and the list goes on.

until lobbyist and all contact between business and politics that  is not transparent is  stopped it's not gonna change.

also you would think that pension funds would remember the the housing bubble that busted in 2008 and stay away from that shit. i guess greed is selectively blind.

(06-10-2021, 02:17 AM)Mystic Wanderer Wrote: I just received a card in the mail yesterday that someone wants to buy my house, as is, all cash.  No name on the card, just and address and number to call if I want to sell.

Houses are in high demand right now. The real estate people are making tons of money! It's a sellers market. It IS a great time to sell, but then you have to think about buying something else, which could become a problem. Most properties are snatched up as soon as they go on the market. So, you end up paying much more than your house brought, or worse, having to rent the rest of your life. 
I don't like having someone else tell me I can't hang a picture here or there, or that I can't paint my room the color I like. And, I don't like people coming into my home to do surprise "inspections" either. 

I think they are buying up all the houses to rent out to all the illegals they are allowing in, or, like you said, to just keep the average American from reaching the American dream.

I agree. I may be an anachronism but I like paying for my own home. I don't want to rent.

Never thought about the illegals aspect. I guess they need to live somewhere and their money is just as good as the next's.

(06-10-2021, 02:37 AM)hounddoghowlie Wrote:

(06-10-2021, 01:33 AM)ABNARTY Wrote: I was not expecting the volume of homes bought by investors. In many markets it is 1 in 5 to 1 in 4 homes are purchased by permanent capital. 

Your average American cannot compete with this as many of these properties are purchased at 20% over asking. 

The long term problem is for many people, owning a home is their only path to equity. If this continues, most average Americans will be permanent renters. They will be shut out of wealth. 


Source:
https://www.wsj.com/articles/if-you-sell-a-house-these-days-the-buyer-might-be-a-pension-fund-11617544801


Tin Foil Hat Rant: I see this by me too. I live in a rural area and tillable acreage is scooped up by really big operators. Farmer Joe milking some cows won't make it. Woods is sold to mostly wealthy people who use it for hunting or vacations get-a-ways. The acre or two the old farm house sits on is sold at a stupid sum. Or it is demolished and some giant mansion is built and sold for an even stupider sum. Bought by some wealthy out-of-towner of course.

Someone please explain to how this will not start to look like some feudal system in time. And I got it. Wealth only moves in one direction: into more consolidated and larger sums. The system (whichever system we are talking about) is designed by those whom it benefits. Bill Gates is allowed to dominate who uses what OS via Microsoft. Then he starts sticking his hands in pharmaceuticals. Next he starts buying up thousands of acres of farms and ranches. 

This is not new. 120 years ago we had to break up the trusts. I do not like the idea of government stepping into what is essentially the private sector. However, what other means do Americans have to tell wealthy entities they cannot play by one set of rules they make for themselves and expect everyone else to play by a starkly different set of rules .... they make for us via our "representatives". There is a limit. I think Americans need to regain their humanity, their voice, and their hutzpah and reassert themselves.

believe it or not regulation, and antitrust are a good thing, other wise you'll have another Rockefeller, Carnegie, Morgan
Ma Bell and countless others.

the bad thing about it now is, politicians want more than they did back then and the big companies are paying, especially China owned companies, insurance companies, pharmaceutical companies, telecommunications and the list goes on.

until lobbyist and all contact between business and politics that  is not transparent is  stopped it's not gonna change.

also you would think that pension funds would remember the the housing bubble that busted in 2008 and stay away from that shit. i guess greed is selectively blind.

I do not disagree in this instance. I see it as some adversary infringing on the liberty of common people for their sole benefit. Defense of the citizen is definitely one of the roles where I believe government should step in.