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Unfortunately I have to agree, and our housing market is REALLY bad. I think the AirBnB issue is relatively small potatoes next to big money real estate holding
by tech_ken 3y ago
Unfortunately I have to agree, and our housing market is REALLY bad. I think the AirBnB issue is relatively small potatoes next to big money real estate holdings firms, who've really gone wild scooping up single family housing and renting it back to people at way above what a mortgage+taxes would cost. People are starting to realize that we need to improve the housing stock options, and there is beginning to be some political will behind it, but it's very slow going.
- crooked-v 3y agoResidential estate shouldn't even be all that attractive for holding firms, though, with all the maintenance costs involved in it and the lack of economy of scale. The only reason it's such a draw is that it's in an excessive shortage, resulting in the absurd year-over-year market rate increases, and because interest rates are so low that every other investment has very low returns compared to historical results.
- cyndicordon12 3y ago[dead]