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Phoenix61

(17,721 posts)
34. Here's some sources for you.
Mon May 2, 2022, 02:03 PM
May 2022

Investors bought a record share of homes in 2021. See where.
An analysis of 40 major metro areas revealed unequal levels of investor activity, with southern cities and Black neighborhoods disproportionately affected
“Those purchases come at a time when would-be buyers across the country are seeing wildly escalating prices, raising the question of what impact investors are having on prices for everyone else. Investors were even more aggressive in the final three months of the year, buying 15 percent of all homes that sold in the 40 markets.”
https://www.washingtonpost.com/business/interactive/2022/housing-market-investors/

Wall Street is buying up family homes. The rent checks are too juicy to ignore
“The coronavirus pandemic gave institutional investors all the proof they needed that single-family rentals could survive a severe economic downturn.”

“Real estate analytics firm Green Street estimates that single-family rental values in the United States are 15% above their pre-Covid level. Renting out single-family homes is expected to deliver annual returns for private investors in the next three years of 6.8%, compared with 6.1% for apartments, 6.3% for industrial properties and 6.4% for malls, Green Street said in a July report.”
https://amp.cnn.com/cnn/2021/08/02/business/family-homes-wall-street/index.html

“Young couples are now competing with more than 200 firms, from tech startups to money managers to rental platforms, to purchase houses priced at record highs. If you want as many regular people as possible to be able to afford a home and build up their wealth the way previous generations have, having investors able to spend tens of thousands of dollars above the asking price and pay in all-cash, all across the market, certainly isn’t an encouraging development.”
https://www.fatherly.com/news/investors-single-family-home-market-rentals-wealth/amp/

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0 members have recommended this reply (displayed in chronological order):

This has got to be illegal, right? Ferrets are Cool May 2022 #1
No, lots of cities have zoning laws that require single family houses spooky3 May 2022 #4
Then that is up to the landlord to maintain the outside of the house Bev54 May 2022 #17
You're kidding, right? ZenDem May 2022 #27
No. It depends on the lease. Typically, if you rent a SFH, you are responsible spooky3 May 2022 #31
They did not totally ban co-living. PoindexterOglethorpe May 2022 #2
And this particular ban applies only to SFHs. Nt spooky3 May 2022 #7
3 or fewer- 4 or more is banned under this rule Blues Heron May 2022 #16
So if you have Mom and Dad and Grandma and grown son Bev54 May 2022 #18
So, no "Friends" in KC, eh? Wow. dchill May 2022 #3
"Friends" lived in apartments. This ban applies to SFH neighborhoods. Nt spooky3 May 2022 #5
It's racism. Cracklin Charlie May 2022 #6
They are related persons, so the ban wouldn't apply. Nt spooky3 May 2022 #8
Just one who isn't related makes it illegal. Bev54 May 2022 #19
Yes, but in the example the poster gave, there isn't likely to be an unrelated spooky3 May 2022 #22
Yes but it is just one example. Bev54 May 2022 #23
This is a common provision across many cities. spooky3 May 2022 #25
Please read or reread the article jimfields33 May 2022 #13
I doubt this is unusual in college towns. twodogsbarking May 2022 #9
It doesn't ban 3 roommates, so that takes care of most cases. But still, not sure rule is needed. Hoyt May 2022 #10
Turning single family homes into multi-unit rentals Phoenix61 May 2022 #11
I agree with Air B&B but they are not living there and it is Bev54 May 2022 #20
I'm unsure what you mean by they aren't living there. Phoenix61 May 2022 #21
Do you have a cite for that? spooky3 May 2022 #24
Except it doesn't reduce demand. It just shifts the demand Phoenix61 May 2022 #29
These are hypotheses. They should be tested with data. Nt spooky3 May 2022 #30
What part of my post do you think is just a hypothesis?nt Phoenix61 May 2022 #32
All of it--unless you have data, it is just an untested spooky3 May 2022 #33
Here's some sources for you. Phoenix61 May 2022 #34
Thanks, but those don't show that the cause of increases spooky3 May 2022 #35
Right... nt Phoenix61 May 2022 #36
makes it more expensive to live in that neighborhood DBoon May 2022 #12
It artificially inflates the price of single family housing by changing Phoenix61 May 2022 #26
I agree with this. 4 or more people results in Ritabert May 2022 #14
I just want to say thank you for posting the full title. Croney May 2022 #15
This message was self-deleted by its author Rebl2 May 2022 #28
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