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This in conjunction with the context that Big Banks are rapidly taking over as land lords [1] is truly absurd. Directionally, tax payers are transferring their
by briefcomment 5y ago
This in conjunction with the context that Big Banks are rapidly taking over as land lords [1] is truly absurd. Directionally, tax payers are transferring their wealth to Big Banks.
[1]https://news.ycombinator.com/item?id=27448175 https://news.ycombinator.com/item?id=27448175
- nostrademons 5y agoI've read that Big Banks are still a tiny minority of landlords. The numbers I got for the 2012-2014 market (which was the peak of investor interest after the last bust) were that 20% of homes were sold to investors, and of those only 1-2% were large institutional investors (with the other 18-19% being mom & pop households who want to own a rental property) [1]. This is also consistent with anecdotal reports I've heard from realtors for the post-pandemic market; about 3-4% of their sales are to corporations, and the bulk are wealthy Millennial tech workers or folks moving out of HCOL areas. [1] https://www.federalreserve.gov/econresdata/feds/2015/files/2015084pap.pdf https://www.federalreserve.gov/econresdata/feds/2015/files/2...
- mc32 5y agoWhat do banks have to do with Covid, did they create it? I get it people don't like banks. Banks print money, banks can have shady business in addition to plain old banking... And if I recall correctly, most landlords are not multi-building owners.