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Yeah, it’s mostly a supply issue.Quote:
Originally Posted by Mustonen
And in areas where maybe institutional investors are buying up a large share of SFH offered for sale, allowing for increased supply solves that.
There’s a reason institutional investors back NIMBY policy.
Yeah, but even that is limiting. "Supply issues" in any market only exist when there is demand for said product. So yeah, where I live supply isn't keeping up with demand but their is all lot of fucking new supply. But not enough to keep up with all the people that want to own property here.
It is even worse than that--I believe that Redfin statistic is purely based on looking for home buyers who use a company name.Quote:
Originally Posted by J. Barron DeJong
So that includes institutional investors and large/medium scale landlords.
But it also includes smalltime landlords who usually buy homes to rent under an LLC (not a great idea to buy it in your own name). And it includes individuals buying for themselves via an LLC or trust...which is pretty common for people seeking privacy or with various accounting issues...
That being said, the flip side is that real estate is a local issue. Doesn't really matter what the institutional share is nationally because homes in Cleveland don't really compete much with homes in Phoenix. A corporate landlord who owned 10% of the housing stock in a metro area within a certain price point would have a lot of power even if nationally the only own 0.001%.
Agree, the national stats don't reflect impact on individual cities or within particular price points. Google says there's only about 2 million airbnbs in the US, which is only about three or four x the number of homes owned by institutions (A little hand wavy because I don't know how airbnbs break down across apartments, condos, and single family). There's not much doubt that ABB is impacting housing prices, easy for me to imagine. Institutional ownership is at least contributing to the issue.
https://vancouversun.com/business/re...n-rents-report
apparently STR's affect rents, who knew ?
https://montana.craigslist.org/reo/d...793537169.html
quiet affordable living up narth
For sale but no pets...
Sent from my SM-S236DL using Tapatalk
taking it to mean no pets in the home
Not including basement means that part isn’t for sale.
They’ll still be down there. At night.
Ran into a guy in Bozeman from opheim. Dude was a character.
Naw, they're probably just using it for cooking meth and don't want to share.Quote:
Originally Posted by Mustonen
Highest inventory since 2011 in Austin. 30% markdown on new build
https://www.zillow.com/homedetails/1...ource=txtshare
Austin has been building faster than any other city, and prices have been falling because of it.Quote:
Originally Posted by 4matic
Wish that everyone would learn from their example.
Also I think a lot of people move there, and a few years later say ‘fuck this’ to the heat and traffic.
Perhaps there’s more churn(?), but it’s not slowing growth that caused the recent price drops:Quote:
Originally Posted by rideit
Attachment 503143
I know a few people moved to Austin to chase the dream. Got hammered. Stuck.
DR Horton bad miss a Lennar warning about death spiral.
People moved to *Texas* to chase a dream? That is some fucked up shit, man...Quote:
Originally Posted by 4matic
I’ve heard it’s bigger there.
I thought the dream is to GTFO of Texas.
I mean... if I were unfortunate enough to find myself there, I'd think that would be my #1 dream.Quote:
Originally Posted by ColMan
Austin is Texas cosplaying, and for some reason a lot of people seem to be into that.Quote:
Originally Posted by skaredshtles
I visited Austin on business once... and if that's the *best* part of Texas... they're truly fucked.Quote:
Originally Posted by Dantheman
:D
Mortgage broker calls nine days from closing to say the locked rate can no longer be honored. That's nice.
https://youtu.be/A-brgkkjnHc?si=EjUuULpc6ISdC7iYQuote:
Originally Posted by Mazderati
The best part of Texas is east Texas because California isn't there yet.Quote:
Originally Posted by skaredshtles