Because they’re the only ones that can.
And the homes that the low and median priced buyers could buy are either rentals or becoming rentals.
In my neck of the woods, two large townhome developments are nothing but rentals. Nice looking places from the outside.
I asked a friend of mine if he wanted to flip a house. We’re both construction guys. He said it would be very difficult as the corporations are snatching up everything.
Blackrock gotta make that money.
“He said it would be very difficult as the corporations are snatching up everything.”
They’ve keeping the market from crashing more, horrors.
Everything is always someone’s else’s fault. It can’t be flipping season all the time. The time for flipping is coming, just not quite yet. When it comes, those corporations will buy all those flipped houses. We still have a housing shortage.
Corporations have a longer time horizon than individuals, who have no patience with the fact the economy goes through its cycle no matter what we’d like to see it do.