Squatters- talk to me like I am in 5th grade

Nah, that guy really sounds like he believes what he's saying but just had clearly not taken the time to process what it says about him. I don't think he was strolling in the same way that closeted Marquez fan keeps trying to bait people.

 

Chronic naivete, inability to think past one level of consequence, and a worldview based more on "muh feels" than reality.

It's not just him, though... THAT is the true global pandemic.

 

What's even more funny is that he's complaining about boomers. It was his boomer grandparents' generation that started all the commie BS he's spouting. What's old is new again.

 

He’s probably on another web board , complaining about the high gas prices, caused by the greedy convenience store owners .

 

And big oil raking in those record profits. There are plenty of valid points little zoomer was on, but then ze/zer just jumps the shark.

 

Bohemians had a code to live by and had class. Hipsters, Steam Punks and the lowest of all Squatters have none of that and should be treated accordingly.

 

So, hoping this doesn't get considered as political, but what are everyone's opinions on foreign investors buying single-family housing in bulk? I'm OK with owning an overseas vacation property but I don't like the idea of a foreign national or entity buying up hundreds of houses to turn into rentals.

 

How are they buying single fam housing in bulk ? County tax foreclosure auctions ?

 

Generally, these are entry level homes. Any house that comes on the market in an area / neighborhood they grab immediately with a cash offer and quick closing. Entry level buyers can't match that even if they match the offered price. So, all the entry level buyers end up renting and most of the rentals are controlled by the foreign company so they can charge high rents because they control the market.

 

Foreign individuals, more power to 'em.

Foreign corporations, I don't like it, but that is part of a free market system.

 

There are two main methods. Tax sale hasn't been a worthwhile path since the 2008 recession. Either they set up LLC's and have employees on the ground who are chasing down cold call leads or working with realtors for single property purchases or they are making deals with builders to buy entire subdivisions. Beezer has gotten into this business as have some of the other big national builders. The Teacher's Pension Fund of Canada was becoming a player in this area a few years ago.

As far as how big this is - in late February Georgia State released a study they had done that found about 19000 single family homes in the metro area were owned by three companies. It's an interesting read.

 

Corporations are people.

 

Yeah but it was about 11% of the rental inventory.

45% are owner occupied.

11% of 55% is six percent.

Just another story blaming smart investors for the issues poor, stupid, and lazy people have.

 

I'm not sure how it isn't. If you are buying 20 or 30 properties a week, whether in one transaction or in rapid succession it is bulk versus how the market has typically functioned.

 

Bulk ownership?