That would be true if this situation didn’t exist before the leap in prices.
Comment on Wall Street has spent billions buying homes. A crackdown is looming.
Lookin4GoodArgs@lemm.ee 2 months ago
Companies that buy single-family homes say their businesses provide renters the opportunity to live in desirable neighborhoods where they otherwise couldn’t afford to buy.
That’s true, because companies buying SFHs make it unaffordable to buy homes in desirable neighborhoods. They are the solution to the problem they created.
Dkarma@lemmy.world 2 months ago
wintermute_oregon@lemm.ee 2 months ago
I missed that gem. Buy having billions, if not trillions to spend they can inflate pricing.
Studies have shown that is bullshit but I disagree. The claim is they only own about 1% of the market and can’t influence it.
I know anecdotal data isn’t always accurate but they seem to focus in the low to mid range. When I was buying my condo in Oregon. Everything at that range was getting sucked up by PE.
You can get some great deals on multimillion dollar properties where they are not buying but the sweet spot for most buyers they are consuming. That’s my opinion.