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FWIW, the methodology note at the bottom of the interactive: > The Post analyzed Zip code-level data provided by Redfin. Redfin defined investors as buyers who
by danso 5y ago
FWIW, the methodology note at the bottom of the interactive:
> The Post analyzed Zip code-level data provided by Redfin. Redfin defined investors as buyers whose name included the keywords “LLC,” “Inc,” “Corp” or “Homes,” or whose ownership code includes the keywords “association,” “corporate trustee,” “company,” “joint venture” or “corporate trust.” (For our analysis, Redfin excluded the buyer keyword “Trusts” from its analysis to be more conservative in its findings, since some families own their homes through trusts.) Redfin included the 40 most populous metros where counties disclose sales prices. Redfin’s metro boundaries are either Metropolitan Statistical Areas or metropolitan divisions, depending on the metro.
The Post excluded Zip codes with fewer than 10 sales in 2021 from the maps, and those with fewer than 25 sales from the race and income analyses.
Race and income data is from the U.S. Census Bureau.
- jeffbee 5y ago"Some families" interesting language. In Berkeley, where I have comprehensive data on the subject, about 13000 parcels are held by family trusts, in a city with only 29000 parcels. Everybody uses them because it's the best way to scam Prop. 13.
- TomVDB 5y agoWe have our house in trust not because of some prop 13 reason but simply because putting your major assets in a living trust is the right thing to do avoid probate. It massively reduces headaches for your descendants upon death but AFAIK it makes no difference in terms of taxes. Anyone who has a little bit of assets (a single house is enough) would be a fool to not have a living trust.
- PaulDavisThe1st 5y agoWhat precisely is it that you think is gained ?
- count 5y agoThere's an entire financial structure the trust provides with a bunch of benefits. No probate, no will/estate issues, it's not counted as an asset for disability determinations, etc.
- TomVDB 5y agoPrimarily ease of transfer. Probate is a pretty long winded process that can take month to close. A living trust avoids most of that. Apparently there are some potential tax optimization options as well, but I don’t know how that really benefits my particular case. (It’s definitely why we did it.) Here’s more info: https://www.scscourt.org/self_help/probate/medical/living_trust.shtml#pros https://www.scscourt.org/self_help/probate/medical/living_tr...
- vmception 5y agoand perhaps more people are wising up to the benefits of buying their primary home and any home in an entity
- PaulDavisThe1st 5y agoThis is a bit problematic. In the text of the article it says: > Real estate investors can be large corporations, local companies or wealthy individuals, and they generally don’t live in the properties they are buying. Some look to flip homes to new buyers, while others rent them out. The methodology described above does not catch individuals buying houses to rent out. I actually like the methodology, because I think residential housing capture by corporations is an important (and negative) feature. But the article text makes it sound as if they are also describing people choosing to buy a single rental property, and I suspect that even though this may have negative effects on the housing market, it should likely be considered differently from the purchases made by entities caught by Redfin's methodology as described.