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> affected by the corporate buying of single family homes > after corps, we have foreign buyers also coming in with cash offers As someone mentioned earlier i

by shlant 1y ago

> affected by the corporate buying of single family homes > after corps, we have foreign buyers also coming in with cash offers As someone mentioned earlier in the thread, these are memes that are not actually backed by data - commonly perpetuated by groups that blame most issues on billionaires/corporations/investment firms.

dylan604 1y ago
So you're insinuating that the specific example of a house sitting empty owned by a foreign buyer is made up? In my neighborhood specifically, there are homes being bought not by single families but specifically buy management companies so they can then rent the property. To deny this happens is just as much of a stick your head in the sand meme as what you are accusing me of.
- aerostable_slug 1y ago
  They're saying it's overemphasized, which is why we don't rely on anecdata.
- orangecat 1y ago
  So you're insinuating that the specific example of a house sitting empty owned by a foreign buyer is made up? I'm sure that happens occasionally. It's not nearly as significant as exclusionary zoning and other bad policies that prevent housing from being built. In my neighborhood specifically, there are homes being bought not by single families but specifically buy management companies so they can then rent the property Even in that case, the homes are still on the market.
- whatshisface 1y ago
  Management companies will only buy a house if they think they can profit on it, and the price of the house is a cost for them too. This links the affordability of both types of housing: low rents can't support expensive real estate, and vice versa. The rental payments have to pay for the management company's mortgage.
- bpt3 1y ago
  No one is denying that it ever happens. It happens in so few numbers that it has no impact on the overall real estate market. That's why your anecdote is meaningless and can be dismissed immediately.
- shlant 1y ago
  bring the data to back your claims or be ignored like you are ignoring all the responses to you

by shlant 1y ago

dylan604 1y ago

So you're insinuating that the specific example of a house sitting empty owned by a foreign buyer is made up? In my neighborhood specifically, there are homes being bought not by single families but specifically buy management companies so they can then rent the property. To deny this happens is just as much of a stick your head in the sand meme as what you are accusing me of.

aerostable_slug 1y ago
They're saying it's overemphasized, which is why we don't rely on anecdata.
orangecat 1y ago
So you're insinuating that the specific example of a house sitting empty owned by a foreign buyer is made up? I'm sure that happens occasionally. It's not nearly as significant as exclusionary zoning and other bad policies that prevent housing from being built. In my neighborhood specifically, there are homes being bought not by single families but specifically buy management companies so they can then rent the property Even in that case, the homes are still on the market.
whatshisface 1y ago
Management companies will only buy a house if they think they can profit on it, and the price of the house is a cost for them too. This links the affordability of both types of housing: low rents can't support expensive real estate, and vice versa. The rental payments have to pay for the management company's mortgage.
bpt3 1y ago
No one is denying that it ever happens. It happens in so few numbers that it has no impact on the overall real estate market. That's why your anecdote is meaningless and can be dismissed immediately.
shlant 1y ago
bring the data to back your claims or be ignored like you are ignoring all the responses to you