Investment banks don't buy houses, that's not what they do.
Investors bought 18.4% of the national market that was for sale in Q4'21. I had more recent numbers somewhere, but I think :reddit-logo: jannies deleted a comment I had saved with those numbers.
It's been climbing, but it's not near 90% (at least not yet). I'm pretty sure the only way you could get close to investors buying 90% of homes is if you include apartment buildings. They shouldn't be involved in that business either, but I think usually when people say "homes" in the US, they mean single family homes. Sometimes when they say investors, they mean anyone who buys the house for financial gain, but other times they use "investors" but only mean large investors.
Again, fuck Wall Street and BlackRock. My point is just that the two sides fighting here are the haute bourgeois PE firms and the petty bourgeois local business tyrants. The latter is Tucker Carlson's TV base, which is why he is comfortable running segments about how BlackRock is bad (and not out of any love for the working class).
I mean, yeah, I mostly agree with what you're saying. But zero is the only acceptable number for "houses bought purely for speculation by banks."
20 million unoccupied homes in this country. Housing should not be a fucking investment vehicle, bought for same day cash sight unseen, double asking price. That isn't reasonable behavior for someody that might actually be living in that house. It's wall street hedging with real estate.
Investment banks don't buy houses, that's not what they do.
Investors bought 18.4% of the national market that was for sale in Q4'21. I had more recent numbers somewhere, but I think :reddit-logo: jannies deleted a comment I had saved with those numbers.
https://www.redfin.com/news/investor-home-purchases-q4-2021/
It's been climbing, but it's not near 90% (at least not yet). I'm pretty sure the only way you could get close to investors buying 90% of homes is if you include apartment buildings. They shouldn't be involved in that business either, but I think usually when people say "homes" in the US, they mean single family homes. Sometimes when they say investors, they mean anyone who buys the house for financial gain, but other times they use "investors" but only mean large investors.
Again, fuck Wall Street and BlackRock. My point is just that the two sides fighting here are the haute bourgeois PE firms and the petty bourgeois local business tyrants. The latter is Tucker Carlson's TV base, which is why he is comfortable running segments about how BlackRock is bad (and not out of any love for the working class).
90 % in some areas. Not everywhere.
I mean, yeah, I mostly agree with what you're saying. But zero is the only acceptable number for "houses bought purely for speculation by banks."
20 million unoccupied homes in this country. Housing should not be a fucking investment vehicle, bought for same day cash sight unseen, double asking price. That isn't reasonable behavior for someody that might actually be living in that house. It's wall street hedging with real estate.
It's not 90% anywhere. Atlanta is the highest at around 30%. There is a breakdown by city in that link.
You're being deliberately obtuse in your insistence on what areas could mean. A single neighborhood. A street. Jesus, dude.
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