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by jjeaff
1774 days ago
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Used car market in the US is valued in the $150B range. So something like that could possible have some affect. The housing market in the US though is on a different level. $8-9 trillion, so I don't think any one player is going to even make the smallest of differences unless they are focusing in specific markets and maybe manipulating just that area. |
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But that’s not the inventory that is being traded at any point of time.
The vast majority of housing in the US sits in a single family without switching hands for probably decades. So the actual market is probably 20-30 times smaller, and so a single major player is far more capable of having an influence on pricing.
Besides, housing is not a national market. A buyer does not usually decide that they want to own a house and then scour the entire country to find houses they could live in.
They usually decide a place they want to live in, and then look at a much smaller market within that area. So even if a single entity cannot impact the national market, they could definitely impact local markets.