see my reply to you here https://news.ycombinator.com/item?id=14239444 https://news.ycombinator.com/item?id=14239444 You are operating under the assumption th

see my reply to you here https://news.ycombinator.com/item?id=14239444 https://news.ycombinator.com/item?id=14239444 You are operating under the assumption that people are buying these properties for the sake of long term investment. That is the classical model of real estate investment, its no longer what is occuring at scale.