iBuyers are supposed to be playing a rational strategy over a large portfolio; they pay what they think the house is worth, and unlike an irrational/emotional h

iBuyers are supposed to be playing a rational strategy over a large portfolio; they pay what they think the house is worth, and unlike an irrational/emotional human who really wants that property for his primary home, they have no reason to participate in bidding wars past what they think the house is worth. The the point of the iBuyer is to turn around and unload it after a few weeks or months on someone who wants it for a primary residence; it's not in their interest to pay more than such a buyer can afford. People are living longer and tolerating less construction. We're only building or freeing up enough homes in desirable areas to skim the very top of our generation.