Quote:
Originally Posted by Cappy
I don't entirely disagree.
Corporate ownership of single-dwelling units is a possibility, but I would assume most of this is involved in condo units vs single family homes.
I also think homebuilders nearly have a license to print money at this point, given demand and supply issues (however, the upfront costs and the labour issues are certainly something to be acknowledged.
But a corporation buying thousands of houses vs a home builder making cash on infills is a different argument.
I would say that i know two people whom have bought a property, torn it down, built a duplex and sold the second unit while living in the other. Lots of upfront risk and you need to be somewhat wealthy for that, but it turned out good for them.
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It is both. Since AirBNB came out there has been a new industry where corporations will buy up single family homes and turn them into small hotels. The result becomes a smaller housing inventory for people because yet another corporation is working to make more profit.
If housing costs continue to accelerate beyond salaries then we will eventually get to the point where the only home owners are corporations and/or billionaires.
Everyone wants to be on team billionaire but the reality is that the billionaires do not want that. They want everyone to be plugged in and under their influence / control.