If we had a portable grill that didn’t work, we would put in in front of our house with a “For Sale - $250 or best offer” sign, and could count on it being stolen within 24 hours. Sort of free junk hauling. And we live in a fairly low-crime area.
But to your point..... TOO MANY basic residential homes in our area are being bought up by corporations of all sizes and types, then turned into rentals. I am hoping this turns around somewhat, if the scarcity in housing lets up (maybe if millions are deported, some spaces will become available). It is sad that young buyers are not able to compete against the corporate buyers, but is also sad that perfectly nice homes (many would be “starters” or first homes for young families) are turned into rentals. Renters just cannot have the same feeling of trying to create a community; they can just move when the lease comes up - no investment.
oh sure, did you see the article where some international buyers are buying up huge parcels of land in Malibu, the oceanfront property that got burned in the fires. They are just quietly buying up the entire area. I guess it’s kind of like a scalper buying up all the tickets at a concert and then selling you a seat for $4000. i’ve been saving up some money so I hope there’s a readjustment of sorts and these prices go down so I can jump on something maybe as a rental property or a vacation property, or maybe just a big tract of land to hold onto as an investment.
IIRC I read on a prior FR thread that most of the “corporate” home buyers are mom and pop investors who have only a handful of investment properties. Think self-made millionaires ($1 or $2 million) who’d rather their investment growth / retirement plan be real estate instead of stocks and mutual funds.
A potential homeowner will always be able to outbid a rental company for a property.
Because the homeowner can afford to pay far more than any investor, which has to have enough cash flow to make it a good investment.