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by ytjohn
1585 days ago
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There's another factor going on in housing right now, which is corporate home ownership. There was some pressure on the market when landlords moved from long-term rentals to short-term airbnb style rentals. But last couple years saw an influxed of "iBuyers" like Zillow and OpenDoor. These companies have been purchasing homes at above market prices - which tends to move the market price in the process. Their goal was to get inventory without much regard for profitability. https://www.cnn.com/2021/11/08/homes/zillow-ibuyer-homes/ind... |
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