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That's part of the problem. The other part is that common buyers are competing with investor funds + international investors who can pay over asking price and s
by Justsignedup 3y ago
That's part of the problem. The other part is that common buyers are competing with investor funds + international investors who can pay over asking price and still make a major profit.
Worse is how in New York a ton of stores are left empty to lower the tax burden on the owner of the building, or to drive up prices more.
All that combined with automated landlord pricing tools that effectively make a nationwide collaboration between landlords who'd previously never talk to eachother.
- TulliusCicero 3y agoInvesting in real estate this way only makes sense when supply is sufficiently constrained. An explosion of housing makes it a bad investment. But we've made it incredibly difficult in many, perhaps most areas to build substantial new housing, so we don't get housing explosions even in areas with incredible demand. You end up with just a trickle.
- whimsicalism 3y agoYou are diagnosing a symptom as the cause.