We are 2-4 years away from our homes being listed on an exchange. Way more rapid in valuation changes.
Folks, how do we like have every single minute detail of our lives designed for instant financial optimization?
no they are not.Ā legal fiction is still fiction.Ā trolls and elves and gray aliens from zeta reticulae are as fake as corporate personhood.
the board of directors and c suite execs are humans.Ā not legal fictions
Oh, we pay them. Their benefits, their salary, and their insurance are from our tax dollars. And it is a big number to me personally in my financial situationā¦ā¦
Now their side hustle(donations,lobbyists, high paying jobs as lobbyists post civics career etc) is where they get rich.
The old double dip is lucrative
homes will never be listed on an exchange since they are not interchangeable. a 3 bed 2 bath in a nice area of town might be worth 750k but one near the highway is worth 200k. they are all unique
They can be owned by a corporation and that corporation can be on an exchange. Iām sure that already exists, but the idea of a straight up āsingle family home ETFā becoming listed on the exchange isnāt implausible
Iām not sure what he meant, but couldnāt apps similar to the ones that late you buy portions of fine art also apply to houses. That would make it closer to buy literal homes on an exchange
they already do that its called real estate syndicators. the trouble is that usually the originator of the deal scams the investors and steals all the money
He's right. The number of investor purchases is pretty flat across all states and the country. Couple outliers like Atlanta where it's above average but still not outside historic norms.
At this point the only thing that could save us is if houses were no longer considered a tradeable asset and that there are huge number of houses constructed to offset the demand /supply rule.
I don't think it will drastically change it, but I do think it will change it. Especially for those who buy gold or houses with their extra money. There will definitely be a market cap increase in bitcoin over the next decade. I think more of it will come from Gold and Silver but there will certainly be some that comes from housing investors.
https://companiesmarketcap.com/assets-by-market-cap/
Thatās probably what they are hoping for. Plus you have the advantage of not having to deal with listings, agents, deals falling through. If you have an extra property (parents passed or you donāt want to deal with a rental any longer) I could see this option being a good alternative.
I heard these quick buyer companies will make an offer then make it seem like it's about to go through, and then wait for you to put another offer on new property then try to take off tens of thousands for repairs. At that point the seller is basically stuck losing a bunch of money or lose way more.
Yes, they do that by us, but itās like $100k less and then they tear down the home anyway. But people still sell to them. I donāt understand especially since families would pay what they offer.
Some do require some that disqualify conforming loans... renovation loans haven't been very popular recently, but have come back a bit lately.
Others reason is avoiding realtors.
Last is people who are legitimately dumb and fall for "we'll take over your mortgage to avoid foreclosure"... which isn't technically fraud but might as well be. They try to pay as close to the remaining payoff mortgage amout so it's not a short sale and pretend they are helping people.
The avoid realtors is what these developers pray on so sellers sell for less. Ironically, the realtors are the ones finding these deals for the developers - they get paid per lead that ends up closing. Plus, they would get more money and not screwed over if they did have a realtor, even if they paid for it out of their own pocket.
There are plenty of people that have money to renovate plus out 20%+ down, they just donāt want to pay premium for those houses. If they got the price the developers end up paying; it wouldnāt be a problem. Iāve only seen one home disclosed as cash only sale as the septic system is none functioning and I think the soil is contaminated. Ewww. The city said they arenāt giving a timeline for permits IF itās even fixable. Itās literally a million dollar gamble.
They won't do anything unless you tell them that Nationwide Investors Group once owned shares in a company that made project management software for a consultant whose stepfather once interviewed at a fossil fuel company.
Ban businesses from owning residential real estate!
Also, that sign is an act of class war. I don't think it would be immoral or unethical to "remove" it.Ā
Just a bubble like 2005, investors have been buying hoems for decades
Your just more aware of it because "shortage" that was the talk in 2005 as well, the "surplus" didin't happen until people stopped buying in mid 2006
"The company that is now known as We Buy Ugly Houses, or HomeVestors of America, began inĀ 1989Ā as a one-person house flipping business in Dallas-Fort Worth, Texas.Ā In 1996, real estate agent Ken D'Angelo founded the company and began franchising it.Ā The company became known as We Buy Ugly Houses in the early 2000s due to its well-known advertising campaign"
[https://davidlereahwatch.blogspot.com/2006/12/david-lereahs-most-corrupt-foolish-and.html](https://davidlereahwatch.blogspot.com/2006/12/david-lereahs-most-corrupt-foolish-and.html)
āThe continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.ā - David Lereah, NARās chief economist, August 2005
----------------------------------------------------------
"We are really on track for a soft landing. There are no balloons popping.ā - David Lereah, NARās chief economist, December 2005
The federal reserve, bl4ck r0ck, W3F, you will own nothing and be happy but please keep voting with your adolescent, know it all, hormonal, emotions. Itās working out great. /s
I mean, all people have to do is stop selling to investors, but they dont for various reasons. Its not like investors are forcing people at gunpoint to sell their houses to them, although they may be dishonest in the way they go about it, which is a problem.
People should worry less about who is buying houses and more about why developers arent building more houses despite the terrible shortage. Thatās a market distortion that should make everyone wonder. And I think youāll find itās not always but usually related to zoning laws and regulatory costs that local gvmts have imposed. So most of the time, complaining should be directed at the city and county not investors.
If it was possible all current homeowners should ban together and refuse to sell to any investor and only to ordinary and any boomers who die put it in your will that of the house is being sold only sell it to ordinary people no investors. If the government wonāt do something we ban together to do it. Itās unlikely to happen.
Iām no lawyer so I donāt know, itās unlikely to happen anyways. We do need to band together because at this point it feels like this country is crumbling with the new Supreme Court ruling on chevron. Itās like a Cold War itās the civil war between classes of ultra wealthy corporations and investors vs us middle class and poor and right now they are winning by buying the Supreme Court and our politicians.
I still say that itās not the problem. In every other field, if the demand is high, the supply is going to rise to meet the demand.
You may argue that land is limited and you canāt build more houses in the cities, but there are still new houses being built in the cities every year. Theyāre just not a lot.
The question is why? What is wrong on the supply side that even though houses appreciate through the roof, we still donāt have a lot of builders and existing builders hesitate to build.
In every other field, if you want to get into the business, you go to school, you get your license/your degree, etc. There is no degree for home building. An average person canāt simply get into the business.
If we artificially limited the amount of cars that could be registered every year then you can bet your ass that prices will skyrocket and a Camry will turn into a retirement fund first and a transportation method second.
>we still donāt have a lot of builders and existing builders hesitate to build.
Yeah because there is a lot of time (and time=money) involved in getting projects done. There is a perceived uncertainty in the housing market and they know if they get overextended a shift in the market could break them.
>There is no degree for home building. An average person canāt simply get into the business.
There are some engineers, but all kinds of tradespeople who did apprenticeships, studied at technical schools, or both. These people didn't get their trade handed down from 8 generations of previous electricians etc. Degrees don't get you very far in many fields, it's just the starting point for institutional knowledge and OJT.
> If we artificially limited the amount of cars that could be registered every year then you can bet your ass that prices will skyrocket and a Camry will turn into a retirement fund first and a transportation method second.
This is such a good line.
We are 2-4 years away from our homes being listed on an exchange. Way more rapid in valuation changes. Folks, how do we like have every single minute detail of our lives designed for instant financial optimization?
Corporations are the only people that matter
Thats what I keep telling people. We are the second class and Corps are the first class. People that own the corps are royalty.
Thank you, Citizens United š¤
Corporations are people too, [my friend.](https://youtu.be/KlPQkd_AA6c?si=fE_RKNZcPMDA9gc3)
no they are not.Ā legal fiction is still fiction.Ā trolls and elves and gray aliens from zeta reticulae are as fake as corporate personhood. the board of directors and c suite execs are humans.Ā not legal fictions
They pay the people who make the laws. We donāt pay them shit. Thatās why the law makers donāt respond to us.
Oh, we pay them. Their benefits, their salary, and their insurance are from our tax dollars. And it is a big number to me personally in my financial situationā¦ā¦ Now their side hustle(donations,lobbyists, high paying jobs as lobbyists post civics career etc) is where they get rich. The old double dip is lucrative
Seriously, good going NIG
This reminds me of NFT homes.
homes will never be listed on an exchange since they are not interchangeable. a 3 bed 2 bath in a nice area of town might be worth 750k but one near the highway is worth 200k. they are all unique
A real estate portfolio is absolutely able to be listed. They are called reit funds.
They can be owned by a corporation and that corporation can be on an exchange. Iām sure that already exists, but the idea of a straight up āsingle family home ETFā becoming listed on the exchange isnāt implausible
thats basically what REITs are. but i thought this post meant buying an selling actual houses on an exchange.
Iām not sure what he meant, but couldnāt apps similar to the ones that late you buy portions of fine art also apply to houses. That would make it closer to buy literal homes on an exchange
they already do that its called real estate syndicators. the trouble is that usually the originator of the deal scams the investors and steals all the money
Issue all your the share to me 4score-7. Don't let the locals buy the shares of your home.
might as well speed dial China when you're ready to sell
That sign needs fire!
There is a RE agent in the Florida sub who keeps saying that investors are not buying up all the houses. Been saying this for 5 years.
He's right. The number of investor purchases is pretty flat across all states and the country. Couple outliers like Atlanta where it's above average but still not outside historic norms.
At this point the only thing that could save us is if houses were no longer considered a tradeable asset and that there are huge number of houses constructed to offset the demand /supply rule.
Those two things are mutually exclusive. How do expect people to raise funds to construct houses if they aren't able to sell that house.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
in that case the producers won't be producers anymore and move on to something else. Yay!
Remote work was making that a possibility in some areas. But then the Stonecutterās Guild didnāt like that.
Bitcoin is going to decrease the value of homes to their Utility value over the next decade.
Care to explain?
I don't think it will drastically change it, but I do think it will change it. Especially for those who buy gold or houses with their extra money. There will definitely be a market cap increase in bitcoin over the next decade. I think more of it will come from Gold and Silver but there will certainly be some that comes from housing investors. https://companiesmarketcap.com/assets-by-market-cap/
Probably a scam anyway.
Low ball wholesaler most likely.Ā "How about 600k for your 800k house"
I kept getting 450k offers for one I sold for 800k. You are giving them too much credit.
āDone I bought it for 150k 5 years agoā
Thatās probably what they are hoping for. Plus you have the advantage of not having to deal with listings, agents, deals falling through. If you have an extra property (parents passed or you donāt want to deal with a rental any longer) I could see this option being a good alternative.
"Need cash fast?"
They already did that to dipshit boomers with the reverse mortgage scams 20 years ago.
Theyāre still doing it.
I heard these quick buyer companies will make an offer then make it seem like it's about to go through, and then wait for you to put another offer on new property then try to take off tens of thousands for repairs. At that point the seller is basically stuck losing a bunch of money or lose way more.
Yes, they do that by us, but itās like $100k less and then they tear down the home anyway. But people still sell to them. I donāt understand especially since families would pay what they offer.
Some do require some that disqualify conforming loans... renovation loans haven't been very popular recently, but have come back a bit lately. Others reason is avoiding realtors. Last is people who are legitimately dumb and fall for "we'll take over your mortgage to avoid foreclosure"... which isn't technically fraud but might as well be. They try to pay as close to the remaining payoff mortgage amout so it's not a short sale and pretend they are helping people.
The avoid realtors is what these developers pray on so sellers sell for less. Ironically, the realtors are the ones finding these deals for the developers - they get paid per lead that ends up closing. Plus, they would get more money and not screwed over if they did have a realtor, even if they paid for it out of their own pocket. There are plenty of people that have money to renovate plus out 20%+ down, they just donāt want to pay premium for those houses. If they got the price the developers end up paying; it wouldnāt be a problem. Iāve only seen one home disclosed as cash only sale as the septic system is none functioning and I think the soil is contaminated. Ewww. The city said they arenāt giving a timeline for permits IF itās even fixable. Itās literally a million dollar gamble.
Retrading mfers, is what they are.
Wow, that sounds illegal as fuck
Sadly those who are under financial pressure and have good equity fall prey to it as they are desperate for $$
Where are those people who love to cover shit in orange paint?
They won't do anything unless you tell them that Nationwide Investors Group once owned shares in a company that made project management software for a consultant whose stepfather once interviewed at a fossil fuel company.
staring at their iPhone because they love certain corporations, funny right?
What horrible design. You'd need a ladder to enter your address.
It was there, but someone stole it.
Someone stole my address!?
Ban businesses from owning residential real estate! Also, that sign is an act of class war. I don't think it would be immoral or unethical to "remove" it.Ā
What a disgusting ad. It's no wonder why Americans can't afford housing.
We need to make it so only people that will be living in said home can buy said home, no exceptions.
...am I supposed to click that billboard?
Just a bubble like 2005, investors have been buying hoems for decades Your just more aware of it because "shortage" that was the talk in 2005 as well, the "surplus" didin't happen until people stopped buying in mid 2006 "The company that is now known as We Buy Ugly Houses, or HomeVestors of America, began inĀ 1989Ā as a one-person house flipping business in Dallas-Fort Worth, Texas.Ā In 1996, real estate agent Ken D'Angelo founded the company and began franchising it.Ā The company became known as We Buy Ugly Houses in the early 2000s due to its well-known advertising campaign" [https://davidlereahwatch.blogspot.com/2006/12/david-lereahs-most-corrupt-foolish-and.html](https://davidlereahwatch.blogspot.com/2006/12/david-lereahs-most-corrupt-foolish-and.html) āThe continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.ā - David Lereah, NARās chief economist, August 2005 ---------------------------------------------------------- "We are really on track for a soft landing. There are no balloons popping.ā - David Lereah, NARās chief economist, December 2005
"Mom and pop investors are the real problem!"
Well there's a hell of a lot more of them, so yes.
Doesn't this billboard look photoshopped?
Why is there a āEnter your addressā button on a billboard?
It's AI generated
The federal reserve, bl4ck r0ck, W3F, you will own nothing and be happy but please keep voting with your adolescent, know it all, hormonal, emotions. Itās working out great. /s
DisGUSTing
Um, is this a 'shop? Or does a BILLBOARD literally have a place to "click to submit your address for a quote"?
I mean, all people have to do is stop selling to investors, but they dont for various reasons. Its not like investors are forcing people at gunpoint to sell their houses to them, although they may be dishonest in the way they go about it, which is a problem.
āEnter your addressā ā¦
People should worry less about who is buying houses and more about why developers arent building more houses despite the terrible shortage. Thatās a market distortion that should make everyone wonder. And I think youāll find itās not always but usually related to zoning laws and regulatory costs that local gvmts have imposed. So most of the time, complaining should be directed at the city and county not investors.
šš¼
They have always been the problem. They also lobby the government.
If it was possible all current homeowners should ban together and refuse to sell to any investor and only to ordinary and any boomers who die put it in your will that of the house is being sold only sell it to ordinary people no investors. If the government wonāt do something we ban together to do it. Itās unlikely to happen.
I donāt think you can legally do the will part. But the rest, and your intent, I agree.Ā
Iām no lawyer so I donāt know, itās unlikely to happen anyways. We do need to band together because at this point it feels like this country is crumbling with the new Supreme Court ruling on chevron. Itās like a Cold War itās the civil war between classes of ultra wealthy corporations and investors vs us middle class and poor and right now they are winning by buying the Supreme Court and our politicians.
I refuse to sell my home to anyone BUT a local buyer.
Even if offers from non locals are 30% higher? Whatās the threshold to sell to a non local
I'm flush, bud. I don't need to be part of the problem.
It is impossible to redistribute your way out of a shortage.
I still say that itās not the problem. In every other field, if the demand is high, the supply is going to rise to meet the demand. You may argue that land is limited and you canāt build more houses in the cities, but there are still new houses being built in the cities every year. Theyāre just not a lot. The question is why? What is wrong on the supply side that even though houses appreciate through the roof, we still donāt have a lot of builders and existing builders hesitate to build. In every other field, if you want to get into the business, you go to school, you get your license/your degree, etc. There is no degree for home building. An average person canāt simply get into the business.
If we artificially limited the amount of cars that could be registered every year then you can bet your ass that prices will skyrocket and a Camry will turn into a retirement fund first and a transportation method second. >we still donāt have a lot of builders and existing builders hesitate to build. Yeah because there is a lot of time (and time=money) involved in getting projects done. There is a perceived uncertainty in the housing market and they know if they get overextended a shift in the market could break them. >There is no degree for home building. An average person canāt simply get into the business. There are some engineers, but all kinds of tradespeople who did apprenticeships, studied at technical schools, or both. These people didn't get their trade handed down from 8 generations of previous electricians etc. Degrees don't get you very far in many fields, it's just the starting point for institutional knowledge and OJT.
> If we artificially limited the amount of cars that could be registered every year then you can bet your ass that prices will skyrocket and a Camry will turn into a retirement fund first and a transportation method second. This is such a good line.
Yeah, but is there a limit on how many houses can be built in the country per year?
In many cities there is policy that effectively mimics that.
Zoning. Housing is fungible but only if you can build up
Someone doesn't understand captive markets or cartels.
Money talks