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Rentals make up a small percentage of single family homes. Around 5% depending on where you are. Not letting black rock buy a home won't save you from the overp

Rentals make up a small percentage of single family homes. Around 5% depending on where you are. Not letting black rock buy a home won't save you from the overpaid tech worker or nurse-account power couple from dropping 1.5x the listing price in cash. We know flooding supply works because we've seen it play out. Tokyo is the biggest metro area in the world, with a growing population, and reasonable rents because the government took serious measures to increase supply. Restricting demand by banning corporate investors probably won't help, but even if they did it did the effects would be minor. Focus on the solutions we know will work.

Supermancho 3y ago
> Not letting black rock buy a home won't save you from the overpaid tech worker or nurse-account power couple from dropping 1.5x the listing price in cash. What data do you have to support this? > As of 2022, investment companies own about one-fourth of all single-family homes in the US, accounting for 22% of American homes sold, down from 80% in 2020-2021 Naturally, the homes bought are all in the most densely populated areas with a relatively new construction (gentrified neighborhoods). I think it's gonna be a couple years before prices drop.
- zeroCalories 3y ago
  https://www.yardimatrix.com/publications/download/file/2530-MatrixBulletin-SFRSector-July2022?signup=false https://www.yardimatrix.com/publications/download/file/2530-... Large institutions own 5%. Most of these "investors" are house flippers and small landlords trying to "make it big in real estate". It's not the 1% strangling the working class, it's the 10%. Any solution that doesn't hit them the hardest won't be a solution. Infact, we want more density, we need more gentrification, so I don't want to discourage large institutions from investing in a new apartment. But at the very least, if you claim to care about housing prices, don't prevent the government from building more housing.
DrReachAround 3y ago
The average home size in Tokyo is 60 square meters, that's 645 square feet. That's called a one room studio apartment in the US. I don't personally know anyone that wants to live in a box like that, except maybe single people just out of college with little income.
- javagram 3y ago
  There are plenty of people in the USA who live in apartments today. Building more apartments is outlawed in many areas due to land use rules. If people truly won’t live in the apartments, land use rules can be abolished and developers and builders won’t build those homes because they’ll find them unsaleable in the marketplace.
- kbelder 3y ago
  There's lots of people with little income. Many would find a tiny apartment preferable to not having a place to live.
- userinanother 3y ago
  Yeah but you get so many local amenities and conveniences in that 600sf place in Tokyo. In the USA you get none of that

Supermancho 3y ago

> Not letting black rock buy a home won't save you from the overpaid tech worker or nurse-account power couple from dropping 1.5x the listing price in cash. What data do you have to support this? > As of 2022, investment companies own about one-fourth of all single-family homes in the US, accounting for 22% of American homes sold, down from 80% in 2020-2021 Naturally, the homes bought are all in the most densely populated areas with a relatively new construction (gentrified neighborhoods). I think it's gonna be a couple years before prices drop.

zeroCalories 3y ago
https://www.yardimatrix.com/publications/download/file/2530-MatrixBulletin-SFRSector-July2022?signup=false https://www.yardimatrix.com/publications/download/file/2530-... Large institutions own 5%. Most of these "investors" are house flippers and small landlords trying to "make it big in real estate". It's not the 1% strangling the working class, it's the 10%. Any solution that doesn't hit them the hardest won't be a solution. Infact, we want more density, we need more gentrification, so I don't want to discourage large institutions from investing in a new apartment. But at the very least, if you claim to care about housing prices, don't prevent the government from building more housing.

DrReachAround 3y ago

The average home size in Tokyo is 60 square meters, that's 645 square feet. That's called a one room studio apartment in the US. I don't personally know anyone that wants to live in a box like that, except maybe single people just out of college with little income.

javagram 3y ago
There are plenty of people in the USA who live in apartments today. Building more apartments is outlawed in many areas due to land use rules. If people truly won’t live in the apartments, land use rules can be abolished and developers and builders won’t build those homes because they’ll find them unsaleable in the marketplace.
kbelder 3y ago
There's lots of people with little income. Many would find a tiny apartment preferable to not having a place to live.
userinanother 3y ago
Yeah but you get so many local amenities and conveniences in that 600sf place in Tokyo. In the USA you get none of that