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Only if you think that the demand for real estate is mostly driven by housing needs, and not speculation & monopoly style hoarding artificially driving prices h
by mupuff1234 5y ago
Only if you think that the demand for real estate is mostly driven by housing needs, and not speculation & monopoly style hoarding artificially driving prices higher.
- deleted 5y ago[deleted]
- qeternity 5y agoWithout a doubt, it is not mostly driven by those things. Investors have lots of choice about what to invest in. People don’t have any choice about needing shelter. They will pay whatever the price is. I get that wealthy investors driving up housing prices gets people angry and is a good rallying cry. But it’s such a small piece of demand.
- mupuff1234 5y agoDefine small? Even an additional 2-3% increase in supply can have quite a large affect on prices. For example, pre-covid, there was a vast number of vacant apartments in NYC. https://www.6sqft.com/nearly-250000-nyc-rental-apartments-sit-vacant/ https://www.6sqft.com/nearly-250000-nyc-rental-apartments-si... But also being in NYC during COVID and watching the real estate market react, it feels far from an efficient market, as one side has more information, resources and time. https://www.businessinsider.com/new-york-city-rent-deals-landlords-holding-apartments-2021-3 https://www.businessinsider.com/new-york-city-rent-deals-lan...