https://www.youtube.com/watch?v=m4mIVbDHZac
15 replies (most recent on top)
home prices dropped by $300k at several places in bay area california.
@ogh, it's certainly pretty easy to lose money on real estate.
But corporate buyers have long been in the condo business and has already caused some pretty big problems. And Miami is nothing compared to the huge real estate speculation problems in China.
And it's pretty similar to the issue with oil prices where a barrel of oil is trades something like 18 times by the time it gets to the pump.
@klw This is soo true. 1000% agree! The other part left out is that corporate buyers are almost always (when not zillow-types) are the investment and holdings companies. They take funds from uber wealthy and don’t risk the stock market and buy up properties because it is difficult to lose money on real estate. They lease out the property for well over the mortgage if there is one and compound the earnings in high yield accounts. It’s how the rich get richer. Our problems are them versus the rest of us. You’re right!!
That YouTube is a commercial to sell things.
@qsc, um, if there are low inventories and low rates are locked in, guess what that does to home sales?
Not likely, aggregate mortgage debt is 43% LTV right now which is a historic low. Inventory is still very low, and the vast majority of mortgage debt is locked in under 4%.
evk+1hoJXNlK So true. I went to one of those Stanford AI workshops where they looked at the home buying algorithms of Zillow, Open Door and one other I don’t recall. Zillow was making the worst purchasing decisions.
This was also true in the city I live in. Zillow corporate was buying townhouses in the downtown area for unbelievable prices then, when they went to flip them, near immediately, lost loads of money. This was while the market was still heating UP!
The whole real estate market has been negatively impacted by corporate buyers. They’ve priced out family buyers when they sell and jacked up rents enormously when they hold properties to rent.
At some point people in this country will realize the problem isn’t people with differing views from you but the corporations, and their ultra rich owners, that are stealing your basic rights from you.
Come on, man. Back when I was a kid (in Scranton) there was no housing market. Putin's grandfather was the mayor, and none of the children had any ice cream.
Wow that would make my house less than I bought it in 2016. I doubt this very much
Good. Give us little people a chance to pick up a couple of rental properties.
Zillow is a huge part of the problem
This video is horrendous, it's a mix of opinions, product push, ads, etc.
Avoid.
Snopes says fake.....actual is 49%
Not worried about it. So, yeah, whatevs.