They don't care about buying at a premium because they are going to be building apartments in your suburbs.....

Jun 10, 2021
12:43:39pm

mokelembembe All-American

Biden's infrastructure plan calls for cities to limit single-family zoning and instead build affordable housing

Biden's infrastructure bill aims to curb exclusionary zoning, which has led to racial segregation and climate vulnerability for low-income Americans.

https://www.usatoday.com/in-depth/news/nation/2021/04/14/zoning-biden-infrastructure-bill-would-curb-single-family-housing/7097434002/

This message has been modified

Originally posted on Jun 10, 2021 at 12:43:39pm

Message modified by mokelembembe on Jun 10, 2021 at 12:54:36pm

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mokelembembe

Bio page: mokelembembe
Joined: Apr 27, 2005
Last login: Apr 19, 2024
Total posts: 18,366 (28 FO)

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Messages

Author

Time

Does it bother anyone else that BlackRock etc are purchasing residential homes?

Shore10

6/10/21 9:06am

Lots of foreign investors as well. The situation bothers me a lot.

JuicyJam

6/10/21 9:08am

This. A lot of Boston's prime real estate is owned by foreign investors. Nobody

Ironhide

6/10/21 9:11am

Some places like New Zealand have restrictions on foreigners buying property.

Shore10

6/10/21 9:11am

I think that’s pretty common in other countries. I’d be ok with it in the US too

Mike Honcho

6/10/21 9:14am

As well as citizenship.

panacablue

6/10/21 10:06am

An LLC offered on my home a few weeks ago

idacoug

6/10/21 9:22am

Shell corporations are evil. Hard to turn down the money I bet.

Shore10

6/10/21 9:30am

Good on you.

Mitty

6/10/21 10:13am

Why wouldn’t it be legal? You think there’s a law against buying houses?

GilaHank

6/10/21 9:09am

You don’t see how this could create an issue?

fredetteaboutit13

6/10/21 9:12am

Yes I do. “I’m not even sure this is legal” was the phrase I was responding to.

GilaHank

6/10/21 9:15am

"I'm not sure *how* this legal".

Shore10

6/10/21 9:37am

Yes but that doesn’t mean it should be illegal. Less government, not more please

lilpenny

6/10/21 9:24am

We have no separation anymore.

Shore10

6/10/21 9:38am

I prefer foreign corporations as my overlord instead of US government, thank you

Mitty

6/10/21 10:15am

Yeah cause that's what I'm comparing about. Someone buying a home.

Shore10

6/10/21 9:12am

Actually, that's exactly what you're talking about. So how would it be illegal?

CommodoreCoug

6/10/21 9:24am

Yep. Just a random person buying a home. Yep.

Shore10

6/10/21 9:27am

So how is BlackRock buying a house illegal?

CommodoreCoug

6/10/21 9:32am

It isn't. It's unethical.

Shore10

6/10/21 9:33am

Yeah, investment firm buying properties for investment. Just unthinkable

CommodoreCoug

6/10/21 9:38am

Seems very monopolistic.

Shore10

6/10/21 9:41am

BlackRock is developing a monopoly on the housing market? Wow

CommodoreCoug

6/10/21 9:48am

They aren't just buying properties. They are artificially driving up the prices.

Shore10

6/10/21 9:43am

There are much bigger forces driving up prices and BlackRock buying houses

Mtbcoug

6/10/21 11:33am

You're comparing the amount of real estate purchased the last 5 mo vs 12 yrs? ok

Shore10

6/10/21 11:44am

I’m comparing rates of purchases not aggregate.

Mtbcoug

6/10/21 11:50am

Does an all-time low inventory have any effect on this?

Shore10

6/10/21 11:53am

It isn't a conspiracy either.

Shore10

6/10/21 11:47am

I would also agree the FED keeping interest rates at all-time lows contribute.

Shore10

6/10/21 11:52am

The probably is nobody is offering up a valid solution. Limiting homes

cougcoug3

6/10/21 9:11am

I don't know what the solution would be either.

Shore10

6/10/21 9:48am

<< Deleted >>

cvd6262

6/10/21 9:12am

Seems like a pretty good hedge against inflation

Mike Honcho

6/10/21 9:18am

<< Deleted >>

cvd6262

6/10/21 9:20am

This was a hot topic for Japanese investors in the 80's and it went nowhere

Samuel Hall Society

6/10/21 9:12am

Yes, but I think the solution will be to build more houses. It’s kind of like

BNcoug

6/10/21 9:18am

This 100%. The government limiting the supply is what's so attractive to these investors.

KingDave

6/10/21 9:22am

Build more until it's no longer a good speculative play.

ReyOso

6/10/21 9:25am

Lumber is up hundreds of percent. Building isn't working for new buyers.

Shore10

6/10/21 9:29am

It’s interesting, my in-laws are selling there town home. They are adamant that

JohnnyC

6/10/21 9:20am

Wife keeps saying the same thing if we ever sell our house

wannnacruise

6/10/21 9:31am

money talks.

Mayor of Cougartown

6/10/21 9:36am

Not sure they have a say in who buys with fair housing regulations and privacy

Nat Gas Man

6/10/21 10:38am

Too low of rates for too long caused this.

JollyGreenGiant

6/10/21 9:21am

investors need risk and return. They're not getting it. looking elsewhere

Cougarclaw

6/10/21 9:31am

The FED should've raised rates. Also BlackRock and the FED are in bed 🤔

Shore10

6/10/21 9:32am

One solution could be higher rates, which would drive prices back down to

TailgateU

6/10/21 11:41am

Prices aren't going to drop because of inflation. You are correct.

Shore10

6/10/21 11:47am

As a renter wanting to buy, I'm not loving it. Can't blame anyone for responding

303coug

6/10/21 9:31am

If you were trying to save to buy, odds are you are priced out of what you

1984coug

6/10/21 9:48am

100% correct.

Shore10

6/10/21 9:54am

Yep, it is pretty discouraging. Doesn't seem sustainable or like healthy trend

303coug

6/10/21 10:34am

They can/will hold these properties for the next 30-50 yrs and accumulate more.

Shore10

6/10/21 11:07am

It should be outlawed.

valleus

6/10/21 10:01am

I'm sure it's legal, and I'm quite sure we should somehow put a stop to it.

Mitty

6/10/21 10:13am

It's obviously legal. My statement was rhetorical + perplexed at *how it's legal

Shore10

6/10/21 11:06am

One of (very few) benefits of a HOA or PUD with CC&Rs... Our community CC&Rs

joeycougar

6/10/21 11:24am

Not a fan of HOA’s but that is one positive for the neighbor hood.

BNcoug

6/10/21 4:30pm

They don't care about buying at a premium because they are going to be building apartments in your suburbs.....

mokelembembe

6/10/21 12:43pm

RE: They don't care about the price because they are going to be building

TailgateU

6/10/21 12:44pm

Yes it does. One area where I wouldn't be against some form of regulation.

BluebloodOR

6/10/21 2:42pm

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