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You're confusing some entities, often private equity or similar corporations buying assets, often to rent, sometimes just to park, being able to buy, and the ge
by sofixa 2y ago
You're confusing some entities, often private equity or similar corporations buying assets, often to rent, sometimes just to park, being able to buy, and the general public being able to afford to buy. In many desirable metro areas, you need two high incomes (two people in tech or lawyers or finance) to be able to afford to buy anything. What about everyone else?
- throwaway4pp24 2y agoWhy does everyone else need to live in a desirable metro area? That sounds infeasible with so few of them. If there was more desirable metro areas, the prices of those few wouldn't be so high.
- timschmidt 2y ago> Why does everyone else need to live in a desirable metro area? Jobs, mostly. Along with increased access to all the things people like, like food, other people, activities, etc.
- sofixa 2y ago> Why does everyone else need to live in a desirable metro area Because if nothing else (and there is a lot of else) the tech/lawyer/finance folks want to have restaurants, shops, cinemas, street cleaners, utilities etc etc etc etc
- blackhawkC17 2y agoThen they should be ready to pay higher rents for it, because everyone else also wants the same thing.
- ffgjgf1 2y ago> often private equity or similar corporations buying assets What proportion of housing do they own? I would assume it’s pretty small if still significant.
- mjamesaustin 2y agoHuge percentage nowadays. Lately private equity is making 30-40% of all single family home purchases in the US. https://www.washingtontimes.com/news/2024/mar/15/in-shift-44-of-all-single-family-home-purchases-we/ https://www.washingtontimes.com/news/2024/mar/15/in-shift-44...