4 ms·
It does seem that in my quick search, I came across the 44% number which was then later corrected by the Washington Post but not before a bunch of other article
by bmitc 2y ago
It does seem that in my quick search, I came across the 44% number which was then later corrected by the Washington Post but not before a bunch of other articles picked up on the wrong tagline.
In terms of the actional numbers, like I said, it's looking harder and harder to actually know the real number, and I'm not The RAND Corporation. From what I can tell, the number is at minimum in the double digit percentages. But it seems like a very slippery number that depends on how you define private equity, corporation, institutional investor, etc. and of course what "home" means.
As far as I can tell, my point still stands aside from the incorrect 44% number (which is still alarming, in my opinion).
- tqi 2y agoThis response tells me you arrived at your conclusion well before you saw any data.
- chomskyole 2y agoWhy? I'm sure that op read stuff before, and this is not the first time this topic was explored and maybe they came to a conclusion based on other data? Just wanted to highlight that this comment displays so much bad faith, dressed in false objectivity. Are you sure you are not saying this because of being subject to intense propaganda? Not saying that your response tells me that, but maybe something worth considering?
- tqi 2y agoBecause conceding the one data point that you present but doubling down on the conclusion screams confirmation bias. There have been numerous articles debunking this narrative. If you google "how many homes in america are owned by corporations" you get a slew of them[1][2]. There is no data to support this claim because it is not true. According to Freddie Mac[3] Institutional Buyers peaked something like 2.5% market share last year. And that is just of houses sold. In order to fall for a claim as outlandish as "2 out of 5 houses are owned by private equity" you'd either need to be incredibly bad at numbers or looking for confirmation of an existing belief. [1] https://www.strongtowns.org/journal/2024/2/21-going-after-corporate-homebuyers-good-politics-ineffective-policy https://www.strongtowns.org/journal/2024/2/21-going-after-co... [2] https://www.theatlantic.com/ideas/archive/2023/01/housing-crisis-hedge-funds-private-equity-scapegoat/672839/ https://www.theatlantic.com/ideas/archive/2023/01/housing-cr... [3] https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/ https://www.housingwire.com/articles/no-wall-street-investor...