If there is a housing market crash and average home price drops significantly, what stops Black Rock and all these private capital firms from buying up the cheap houses in bulk the second they hit the market?
The average person will still have to have to go through a bank and try to get an fha loan and 30 year mortgage while these massive entities can just pay cash and probably have inside information about availability before we even have a chance
Nothing. This is already happening. Houses are being sold for way over market to private companies because they have the capital to do so pushing out any normal buyer.
A housing crash wouldn't make it any easier to buy since private interests can still pay higher than the value of the house.
They'll just sell the land for a profit, lol. The difference between empty lots and houses is pretty negligible in my area, like arson straight up might not cost them anything. Ans I guess they'll get an insurance payout.
If there is a housing market crash and average home price drops significantly, what stops Black Rock and all these private capital firms from buying up the cheap houses in bulk the second they hit the market? The average person will still have to have to go through a bank and try to get an fha loan and 30 year mortgage while these massive entities can just pay cash and probably have inside information about availability before we even have a chance
Nothing. This is already happening. Houses are being sold for way over market to private companies because they have the capital to do so pushing out any normal buyer.
A housing crash wouldn't make it any easier to buy since private interests can still pay higher than the value of the house.
So what you're saying is we need less of a market crash and more of a crash into Black Rock offices?
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Yep
Or just a wave of arson against unoccupied bank owned homes
They'll just sell the land for a profit, lol. The difference between empty lots and houses is pretty negligible in my area, like arson straight up might not cost them anything. Ans I guess they'll get an insurance payout.
Yeah, the only thing stopping it is that it's happening anyway