A sweeping new bill introduced in Congress would essentially ban hedge funds and private equity firms from buying single-family homes.
Will believe it when I see it, but this would be a good thing!
Yeah everyone has plans. Plans to nowhere to just get by.
I’m seeing a lot of videos on youtube with Wall Street owned homes being sold at a substantial discount. What looked good at 2% interest rates, is extremely unattractive at 7%.
Also the level of apartment and rental townhome construction going on in my Portland OR suburb makes me think that more people are starting to understand the wealth building opportunites in doing a rent vs. buy calculation. If you can reduce or eliminate the portion of your wealth being tied up in a poorly appreciating home, the sky’s the limit.
Consider it part of the commercial real estate meltdown.
Thanks for adding that to this discussion. I did not know.
So, why is single-family housing that different than multi-family housing where residential buildings are owned by companies and rented?
Partially a guess or general fact with hedge funds, the funds are leveraged. Their cost of doing business has been rising as interest rates went higher.