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The vast majority of home purchases aren't from speculators or institutional investors. Institutional investors only own about 0.5% of homes. If they're forced
by Aurornis 10mo ago
The vast majority of home purchases aren't from speculators or institutional investors.
Institutional investors only own about 0.5% of homes. If they're forced to stop buying, nothing will really change in a noticeable way. At best, small landlords and investors will scoop attractive properties up for slightly less.
- Octoth0rpe 10mo ago> Institutional investors only own about 0.5% of homes Where they buy those homes matters though. In areas with lots of jobs/growth (often the areas experiencing the most housing price pain), that number is likely much higher.
- antonymoose 10mo agoIs that 0.5% a uniform distribution across the United States or is it concentrated in a handful of hot markets? I suspect the latter and have to imagine some distortion must be occurring in those regions.
- ntonozzi 10mo agoMaybe the best part of this legislation will be that people will realize it's not institutional investors that are driving up home prices. No, that's far too optimistic.
- tbrownaw 10mo agoWhen this doesn't make anything better, the conclusion won't be that it was a bad idea but that it somehow didn't go far enough.
- ntonozzi 10mo agoHome affordability is getting better anyways, which is great, because we are finally having a surge in new & denser home building in popular regions and there mortgage rates are more reasonable than they were in the COVID-era.