Poor Ida Auken. All she does is write a mildly provocative title, and look what happens.
Peter Bilmer's response in that thread is visually very clever, even if his politics are probably terrible. I'd like to know what the image at top right is. Some kind of startup accelerator?
Interesting tip, but this looks lower-budget than the WeLive photos I find online.
It was so low-budget, that if the guy weren't on his laptop, I would have considered that this could have been an Evangelical thing rather than a Startup thing.
> “It’s less about making money off that inventory, at least initially, and more about who can get the most inventory the fastest.”
> iBuyers have recently shifted “to a free-for-all, acquire at any cost strategy.” At present, both Opendoor and Zillow’s homes division are losing money in the process.
> “For some families, it may be difficult to compete, when they are trying to buy a house, with a company like that,” Quercia said, referring to iBuyers. “So if this was a widespread practice in some neighborhoods, it may create some concerns about a lot of the housing stock being owned by investors from outside of the community as opposed to households and residents.”
> The company, which is reportedly searching out a new $2 billion revolving credit facility, also announced this week that it is now willing to purchase the majority of homes in every one of its current markets.
> That would be welcome news for people like Alex Villacorta, the co-founder and chief data officer of ResiShares, an investment management company focused on residential real estate. “If they can get enough inventory flow, they’ll end up being a marketplace for investors,” said Villacorta. “We would be more than happy to buy in bulk off of them.”
I understand all of that, but an investment company owning a property does not mean that individual homeowners can't own them. There's a leap in logic here where its assumed any company owning residential real estate = everyone is forever a rentier. That's a separate claim worth backing with some evidence (e.g. investment companies buying properties -> increased home prices across geographies -> no one can afford a home), which I haven't seen and the article doesn't provide