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A price crash would help people who want to buy their first home... It absolutely wouldn't because first time buyers would still be competing with investors, e
by onion2k 5y ago
A price crash would help people who want to buy their first home...
It absolutely wouldn't because first time buyers would still be competing with investors, except the investors would be able to buy properties in cash with no need to spend time arranging mortgages, and with guarantees that they won't need to drop out of the sale because it'd happen so fast, which would be very appealing to sellers. Plus, investors would still be able to outbid private buyers no matter even if prices are lower. Everything about selling a house favors selling to an investor (apart from morality maybe).
At this point a house price crash without legislation to block corporate investment in housing stock would likely see a massive shift of ownership from individuals to corporations.