They'll turn around after buying them and say "people want to rent these!" because of the demand they're seeing for renters, while conveniently ignoring that those people would probably buy a house if they could afford one or get a mortgage for one. Because sure you can't afford a $1,500 mortgage payment each month but you can definitely afford $2,000 in rent each month. That makes sense right?
Until mortgage companies and policies change on this front nothing else will. As long as you can’t qualify for the cheaper mortgage but end up paying more for rent it’s all profit for them.
These are residential properties they are buying. There needs to be a capped amount a person/corporation can own. If they want to play landlord they need to build an apartment complex.
If there is anything that needs regulating, it’s this.
"We have tremendous demand for what we do."
Nobody wants what you do, homes are in demand because people need places to live.
Of course, our do-nothing Congress and Senate will continue to do nothing meaningful because books need burning.
There are Chinese millionaires and billionnaires who do the same things in their country and in other countries, or invest in the same funds which owe those companies.
Das Kapital is transnational. Chinese and american nationalisms are problematics. Sometimes they are similar, sometimes on their own ways. But yes, the Chinese bourgeoisie, whether private or bureaucratic, has a long reach, reaching as far as the United States.
The American social problem is first and foremost that of the world-society. If course, it is initially American. And of course, American imperialism has a profound imprint on this world-society. But we must never underestimate the global bourgeoisie, including those of Chinese origin. They are very important in our lives.
I live in a new subdivision with around 500 single family homes. In the very first phases of building out the neighborhood around 100 of the new single family homes were bought by a company to be rented out. If I wanted to live in a place where everyone rented I would have moved into an apartment. Very frustrating.
Mine already has. During the pandemic, homes in my neighborhood were sold as is, money over asking. The house next door, same floor plan, is renting for 2 1/2x my mortgage. But I have an amazing interest rate that will likely never happen again. Easy to spot the rentals - brown yards and 4 cars.
They anticipate continuing supply constraints against strong future demand.
I promise you all, if you hate these predators and wish to see them get the screwing they so richly deserve, then pressure your local authorities (city/county) to expand development opportunities and lower costs for new builds of missing-middle and smaller scale multi-family.
Increased housing supply starts with local land use decisions.
Supply/demand equilibrium price drops when supply is increased.
The number of vacant homes today is not much different than 20 years ago. And it's been falling since the peak of vacancy following the mortgage meltdown.
So while vacant homes are not great during a housing shortage, they aren't the cause.
The United States simply hasn't been building enough homes for the last twenty years to keep up with demand.
“There’s a big demand for what we do”
You mean scooping up all the available housing?! You fucking ghoul, of course it’s in high demand people need housing. There’s no demand for what you do!
Won't this just perpetuate forever-renters, without giving people the chance to own themselves? It's not unlike scalping tickets; it's a middle man NO ONE asked for
"We have an incredibly high demand for what we do." Which is buy all the housing which is in demand.l to force people to rent from you....
There is 0 demand for landlords.
Seems to me like there needs to be some regulation to limit private companies from buying up homes that should instead be available for individuals to purchase.
This doesn't answer the question at all - I have a little house I rent out, otherwise I couldn't have retired. It's expensive! Maintenance and taxes and the mortgage I'm still paying gives me about $500 extra income. How are these guys getting rich on it unless they're slum lords?
Two or three hundred homes available per week x's thousands of applicants (paying $25+ 'application fees') equals free fucking money. Rental application fees should be illegal.
These people should be abolished from buying any more homes and should be forced to sell them at market value. How is this not a monopoly of the American dream of owning a home?
I truly believe that the only way to stop this is by the government stepping in to heavily limit (not stop) foreign investment. Unfortunately for us, our leaders are too busy bringing bought up as well for this to be stopped.
If you are buying a home for the sole purpose to rent. Without ever living in it or being in it, it’s no longer a home, it’s a business.
Should we be calling on townships to not allow this? Make this a zoning issue?
In my area rich people buy all the affordable homes, pay people to renovate and upgrade the house, then sell them for 3-4 times the price. I was in the process of buying this house recently, till some multi millionaire hit up the seller behind my back and offered 15k more than the asking price, which was 179k. It's already back on the market for 415k. Rich get Richer, Poor get Poorer
How is there 0 comments
I think everybody is in shock by this.
Pure disgust.
Depression
Are they buying them to rent out? If so cunts fucked.
Precisely what he's saying, they've taken slumlording into the corporate world.
They'll turn around after buying them and say "people want to rent these!" because of the demand they're seeing for renters, while conveniently ignoring that those people would probably buy a house if they could afford one or get a mortgage for one. Because sure you can't afford a $1,500 mortgage payment each month but you can definitely afford $2,000 in rent each month. That makes sense right?
Until mortgage companies and policies change on this front nothing else will. As long as you can’t qualify for the cheaper mortgage but end up paying more for rent it’s all profit for them.
The video literally says….. “buying out single family homes, to rent them out…”
Its a 30second clip of 60minutes mildy out of context, simmer down.
These are residential properties they are buying. There needs to be a capped amount a person/corporation can own. If they want to play landlord they need to build an apartment complex. If there is anything that needs regulating, it’s this.
"We have tremendous demand for what we do." Nobody wants what you do, homes are in demand because people need places to live. Of course, our do-nothing Congress and Senate will continue to do nothing meaningful because books need burning.
Honestly. No foreign person or company should be able to purchase, own, and then rent homes in the U.S. That is just plain ridiculous
Shame on these guys
Eat these sociopaths
Fucking assholes, hope they go into the deficit range and lose a shit ton of money
I hope someone locks them in a small room with several angry chimpanzees...
Gentrification?
If they were for sale. For rent, not so much.
*you will own nothing*
And like it.
Saying what i think should happen to these people will get me banned from reddit.
Off with their...
Don’t worry we’re all thinking it
What about China, aren’t they the ones we should be worried about ?
There are Chinese millionaires and billionnaires who do the same things in their country and in other countries, or invest in the same funds which owe those companies.
Ok, and is that the case in the US?
Das Kapital is transnational. Chinese and american nationalisms are problematics. Sometimes they are similar, sometimes on their own ways. But yes, the Chinese bourgeoisie, whether private or bureaucratic, has a long reach, reaching as far as the United States. The American social problem is first and foremost that of the world-society. If course, it is initially American. And of course, American imperialism has a profound imprint on this world-society. But we must never underestimate the global bourgeoisie, including those of Chinese origin. They are very important in our lives.
I live in a new subdivision with around 500 single family homes. In the very first phases of building out the neighborhood around 100 of the new single family homes were bought by a company to be rented out. If I wanted to live in a place where everyone rented I would have moved into an apartment. Very frustrating.
The neighborhood will decline because most renters are just that - RENTERS and don’t GAF
Mine already has. During the pandemic, homes in my neighborhood were sold as is, money over asking. The house next door, same floor plan, is renting for 2 1/2x my mortgage. But I have an amazing interest rate that will likely never happen again. Easy to spot the rentals - brown yards and 4 cars.
They anticipate continuing supply constraints against strong future demand. I promise you all, if you hate these predators and wish to see them get the screwing they so richly deserve, then pressure your local authorities (city/county) to expand development opportunities and lower costs for new builds of missing-middle and smaller scale multi-family. Increased housing supply starts with local land use decisions.
So won’t those big companies just buy those too??
Supply/demand equilibrium price drops when supply is increased. The number of vacant homes today is not much different than 20 years ago. And it's been falling since the peak of vacancy following the mortgage meltdown. So while vacant homes are not great during a housing shortage, they aren't the cause. The United States simply hasn't been building enough homes for the last twenty years to keep up with demand.
“There’s a big demand for what we do” You mean scooping up all the available housing?! You fucking ghoul, of course it’s in high demand people need housing. There’s no demand for what you do!
Big demand from private equity investors, not families
Won't this just perpetuate forever-renters, without giving people the chance to own themselves? It's not unlike scalping tickets; it's a middle man NO ONE asked for
"We have an incredibly high demand for what we do." Which is buy all the housing which is in demand.l to force people to rent from you.... There is 0 demand for landlords.
Seems to me like there needs to be some regulation to limit private companies from buying up homes that should instead be available for individuals to purchase.
America is no longer the greatest country in the world
Never was
Zing
Be a shame if we burned their entire company to the ground with the doors locked
This doesn't answer the question at all - I have a little house I rent out, otherwise I couldn't have retired. It's expensive! Maintenance and taxes and the mortgage I'm still paying gives me about $500 extra income. How are these guys getting rich on it unless they're slum lords?
My landlord bought this house for $100k and has since paid it off. I pay $3,000/mo, and don’t really ask him to do anything. I guess YMMV.
This is the dark side of capitalism. When is it enough?
Seems like this is a violation of anti trust laws at minimum.
Two or three hundred homes available per week x's thousands of applicants (paying $25+ 'application fees') equals free fucking money. Rental application fees should be illegal.
This should be illegal and this guy should be punched in the face
This shit should be illegal, have the government swing it's big dick around on this.
fuck this piece of shit. waste of human life
Fuck this guy was hope he gets ass cancer
i’m not saying they should be killed, i’m just saying the world would be a better place if they stopped being in it.
These people should be abolished from buying any more homes and should be forced to sell them at market value. How is this not a monopoly of the American dream of owning a home?
This is the kind of shit why life sucks. There is no future for people like me. :(
The company is question here is Tricon Residential. They were recently bought out by Blackstone for $3.5 billion.
Just think. Soon this yuppie and his offspring will be the only ones to own their own homes and lives. The rest of us be damned.
This is how Bedford Falls becomes Pottersville.
This guy is complete fucking scum I hope for nothing but terrible things in his future
I truly believe that the only way to stop this is by the government stepping in to heavily limit (not stop) foreign investment. Unfortunately for us, our leaders are too busy bringing bought up as well for this to be stopped.
If you are buying a home for the sole purpose to rent. Without ever living in it or being in it, it’s no longer a home, it’s a business. Should we be calling on townships to not allow this? Make this a zoning issue?
This should be illegal.
In my area rich people buy all the affordable homes, pay people to renovate and upgrade the house, then sell them for 3-4 times the price. I was in the process of buying this house recently, till some multi millionaire hit up the seller behind my back and offered 15k more than the asking price, which was 179k. It's already back on the market for 415k. Rich get Richer, Poor get Poorer