02-12-2025, 11:59 PM
mrbigstuff wrote:
[quote=special]
makes sense. Houses are just too expensive and increase in value too fast IMHO. My house went up 500k since Covid. This is not normal.
that is supply and demand; you live in a high-demand area, and the supply has not kept up.
Who is screwing with the supply? Could it be... Hedge Funds? I've been trying to buy a vacation/retirement home for over 5 years. I see this over and over. A house I like goes up for sale, before I even get a chance to take a look at it, it gets snatched up, stays unoccupied for a few months, then, back on the market with a huge price markup. I REFUSE to play their game. I can't see supporting this criminal act.
Hedge funds and other institutional investors stand as a major detriment for home buyers, as they use their huge capital reserves to scoop up available properties. This reduces the already-slim inventory in the marketplace, creating a more acute affordability crunch. Additionally, their abilities to outbid normal borrowers and offer all cash make house hunting more difficult.
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street. Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices,” Sen. Merkley said. “It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford.”
https://themortgagereports.com/109150/he...buying-ban