[PK1991]

Fed had interest rates at record lows so the market goes ballistic because the average person could afford more house. Fed has to tighten so the average homeowner can't afford to buy anymore. Hedge Funds buy the homes for cash and raise the rents so housing never again becomes affordable for the middle class. That way hedge funds don't lose equity as rates go up and prices don't go down. Mortgage applications are at near record lows because the middle class cannot buy but full cash buyers from hedge funds like Bezos and Blackrock continue.

[PittsburghAfterDark]

The problem with this is tying up that much capital in speculative single family housing can decimate a balance sheet.

Zillow had tons of faith In the cumulative components of their Zestimate they thought they could scale it to make hundreds of millions flipping houses at scale. Instead they wrote down nearly a billion dollars.

You may have $100 billion at your disposal but when you’ve bought up the hot markets by default you’re your own worst enemy being out of bargains. Then You have destroyed the market you’re trying to monopolize.

[dfwgator]

“Get ‘Em Out By Friday!”

[Vaduz]

Wait until Jeff Bezos and Blackrock see their maintenance costs skyrocket bad investment.
Chicago projects gone bad.

[Arcadian Empire]

There is a huge movement to turn safe single family homes suburbs into microhousing urban ghettos.

[Steve_Seattle]

Two single-family homes on my street are already being used as rooming houses. My theory is that the owners’ goal is to buy several adjacent properties, tear down the houses, and build apartments. Our PC city council will be happy to re-zone the area in the name of “climate change.” About a mile and a half from me, a whole square block of single-family homes was torn down and they are building apartments and/or condos on the site.

[I got the rope]

Black rock just lost a ton of money. Let them. Keep pumping that bubble fools