Posted on 08/17/2022 7:07:46 PM PDT by grundle
Text messages. Mailers. Cold calls. Over the past two years, homeowners have been bombarded with inquiries from investors who want to know one thing: Are they open to selling their property?
Since the onset of the Pandemic Housing Boom, investors have flooded the U.S. housing market. There are small players like mom-and-pop landlords and Airbnb hosts who are adding to their property portfolios. Home flippers returned with vengeance. There’s also the Wall Street types like Blackstone and iBuyer players like Opendoor Technologies that are gobbling up homes. The combination of low mortgage rates, easy access to capital, and record home appreciation was all too enticing for investors to pass up on.
However, even as investors piled into the housing market, many real estate insiders over the past two years hesitated to attribute much, if any, of the boom to investors. In their view, numerous factors drove the housing frenzy. Historically low mortgage rates, spurred by the Federal Reserve’s response to the COVID-19 recession, attracted all types of buyers. That included white-collar professionals who saw their jobs transition to remote during the pandemic and were eager to ditch apartments in places like San Francisco and Boston for homes in markets like Boise and Tampa. The pandemic also coincided with the five-year window (between 2019 and 2023) when millennials born during the generation’s five largest birth years (between 1989 and 1993) would hit the peak first-time homebuying age of 30. That elevated demand simply overwhelmed the supply side: Housing inventory, which was already trending downward before the pandemic struck, fell to a 40-year low during the boom.
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I got a couple postcards over the last year. They said: move out of your house, don’t fix up, don’t clean up ... we’ll buy it for top dollar, just move out. Tracked down buyer which was a Chinese investor consortium.
Note: two big buyers are Vanguard and Blackrock
I guess they didn't learn the last time. When interest rates hit 8 to 10% nobody will be able to afford a home and they will have to sell for pennies on the dollar. Either that or let the home go into foreclosure where it will sit on the market for the next 5 years.
Does no one read history anymore?
Those 30 year old first time buyers are enslaved now. Paying $400 a sf for a 1500 sf house in the city over a thirty year term with the communists controlling the whitehouse doesn’t seem wise to me. An old farm house with ten acres of tillable soil with no house payment feels good right about now.
BlackRock Behind Corporate Landlord Movement
4 min
https://newtube.app/user/Hostage/aZXdOqd
Monopoly Who owns the World?
1 hour
https://www.bitchute.com/video/9Xfiy36ZgkVB
All part of The Great Reset
“You Will Own Nothing, And You Will Be Happy.”
Bubble........
Not really
Housing prices skyrocketed in the late 70s and early 80s as mortgage rates tripled. Do you read history?
I get phone texts about buying my house. I text back, they’re too late I just sold it.
For the house flippers, they watch Christina and her ex flip a house in 30 minutes, make $100k, and think it’s easy. Especially the one that don’t know a hammer from a jelly donut.
It seems like there are quite a few developments going in, mostly townhomes, on the outskirts of Atlanta. Brand new. All rentals.
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