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It’s both and local factors are huge. Over 30% of the single family homes bought in the last two years where I live have been from investors that are turning th
by joxel 4y ago
It’s both and local factors are huge. Over 30% of the single family homes bought in the last two years where I live have been from investors that are turning them into short term rentals. It’s completely fucked the market.
- qeternity 4y agoHow has this fucked the market? Who is living in those rentals?
- sokoloff 4y agoI read short-term rentals as AirBnB and similar. That does remove supply from the year-long lease market.
- jonfw 4y agoUnless you live right on the beach or another heavy tourist destination, I don’t think 30% vacation/short term rentals is remotely realistic
- sokoloff 4y agoThe figure cited was 30% of 2 years’ worth of sales of a segment of the market (SFRs) going to investors. That might be a net total of a mid-single digit percentage of the total market.
- deleted 4y ago[deleted]
- worik 4y agoThe problem is not availability, but price. The "investors" are profit maximisers. Housing suppliers do not have to be like that.