“””One totally new factor is institutional investment in single family housing.
This is very important because housing prices are determined by actual transactions—and last I saw only about 5% of single family houses have a transaction in a given year.
Active institutional investors can (and have) caused housing prices to skyrocket in “hot” markets.””””
I believe the following is the reality behind Blackrock, Fidelity, State Street, and Vanguard buying up single family homes.
These mega-mutual funds were sent a message that Biden was going to bring in 10 million illegal invaders into the USA and Biden was going to need a lot of single family housing across the USA to house the invaders.
So the mega-mutual funds bought up a huge number of houses and the mega-mutual funds are now renting those houses to the FEDS and the FEDS thru their NGO’s are placing illegal invaders in those rental houses.
Some interesting posts on the institutional investor stuff—we really need a whistleblower from inside these organizations to spill the beans.