RE: Breaking News: Democrats want to ban hedge funds from owning single-family homes.
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I think out of everyone I know, you'd have to be the biggest liberal with the strongest anti-Democrat bias. I know lots of lefties who had Biden specifically, but I can't really recall you not sticking the boot in to the Democrat party whenever you have the chance.
I don't think Blackrock, etc own enough to collapse the economy, I think combined they own less than 2% of the total housing market, although they do concentrate in specific areas... but given that supply of housing is so low, I imagine those houses they'd sell would be snapped up pretty quickly.. and it'd probably stimulate those economies as people renovate and spend a lower percentage of their wage on housing.
Personally, since people need a place to live, I really don't think housing should actually be an investment... essentials shouldn't be investment vehicles.
Damn it's weird when it gets said out loud.
You know what they say: once you go far enough left you get your guns back.
Then again I've never owned a gun so hmmm!
While Blackrock can't crash the housing market "investors" in general certainly can.
It's very bad optics when over a quarter of all housing is speculative.
Just like a traffic jam can be created by adding 10% more cars:
so too can the housing market collapse by adding 10% more houses.
But if I'm being honest the demographics issue might dwarf this one.
Hahaha, that's the best part about having commenters, you get to hear all sorts of things about yourself.
Agreed, investors could certainly crash the housing market, but I do think there are so many people, particularly Gen Y & Gen Z that are totally priced out of the housing market, that might finally get an opportunity to own their own home... so, crash away I say. If anyone gets too worried about housing being too cheap, you just increase immigration and the problem gets solved real quick.
Yeah I mean when empty houses are x10 more common than homelessness something has got to give.