While I do agree with your point, individuals aren’t buying hundreds or thousands of properties. It’s corporations buying up a limited resource that are driving up the prices, not I-own-three-houses landlords.
But setting policies to help renters in need without hurting landlords is complicated. Landlords aren’t a homogenous group of faceless corporations. In fact, fewer than one-fifth of rental properties are owned by for-profit businesses of any kind. Most rental properties – about seven-in-ten – are owned by individuals, who typically own just one or two properties, according to 2018 census data. And landlords have complained about being unable to meet their obligations, such as mortgage payments, property taxes and repair bills, because of a falloff in rent payments.
I’m not disagreeing, but 2018 census data may not be relevant anymore. There has been an absolute feeding frenzy since the lockdown. The landscape has definitely changed.
Outdated data is irrelevant. 2018 was before the housing shortage, before wealthy hedge funds started buying up real estate en masse, before real estate corps employed AI to buy real estate, before airbnbs became egregious to the point of legislation like above.
Quality and relevancy of data is important. You would roll your eyes at anyone citing 1920s census figures. Yes, that’s a dramatic exaggeration, but it makes the point.
A lot has changed in real estate in the last 5 years. That’s the entire basis of the housing crisis discussion as a whole.
Quality and relevancy of data is important. You would roll your eyes at anyone citing 1920s census figures. Yes, that’s a dramatic exaggeration, but it makes the point…A lot has changed in real estate in the last 5 years.
While I do agree with your point, individuals aren’t buying hundreds or thousands of properties. It’s corporations buying up a limited resource that are driving up the prices, not I-own-three-houses landlords.
Nah, I’m gonna go ahead and still be mad at both despite them being different degrees of bullshit. Thanks.
What about two houses? That you plan to pass on to your children?
They’re still all buying more than they need to live in.
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https://www.pewresearch.org/short-reads/2021/08/02/as-national-eviction-ban-expires-a-look-at-who-rents-and-who-owns-in-the-u-s/
I’m not disagreeing, but 2018 census data may not be relevant anymore. There has been an absolute feeding frenzy since the lockdown. The landscape has definitely changed.
I prefer data over conjecture.
Outdated data is irrelevant. 2018 was before the housing shortage, before wealthy hedge funds started buying up real estate en masse, before real estate corps employed AI to buy real estate, before airbnbs became egregious to the point of legislation like above.
Quality and relevancy of data is important. You would roll your eyes at anyone citing 1920s census figures. Yes, that’s a dramatic exaggeration, but it makes the point.
A lot has changed in real estate in the last 5 years. That’s the entire basis of the housing crisis discussion as a whole.
… Unlike every other housing bubble both local or worldwide that happens every 15 years or so?
https://en.m.wikipedia.org/wiki/Real-estate_bubble
E:
… Wow.