Residential property. Is there a dark plan?

[putnam6]

Of course some areas it's more applicable than in other zip codes.


American Dream For Rent: Investors elbow out individual home buyersMetro Atlanta is ground zero for corporate purchases, locking families into renting.

https://www.ajc.com/american-dream/inves...s-atlanta/

 
A landmark study from Georgia Tech found that the rise in investor activity caused a 1.4 percentage point drop in homeownership rates in metro Atlanta from 2007 to 2016. That translates to 16,500 fewer households owning homes than would be expected, were it not for the influx of Wall Street cash.
African Americans like Lowman have been hit the hardest. Investor purchases explain a 4.2 percentage point drop in Black homeownership during that period, the research found.
Large investor purchases have accelerated since then. During one 12-month stretch beginning in July 2021, investors bought one out of every three homes for sale in metro Atlanta.

 
Investors bought one of every three homes for sale here from July 2021 to June 2022 — the most in the country, according to real estate data firm Redfin. The largest firms bought more than twice as many homes in Atlanta as any other market in 2019 and 2020, according to the Congressional study.
Investment firms don’t just own a higher share of rental houses here than the 2% national figure would suggest — they own 5.6% of all single-family houses across metro Atlanta. At the neighborhood-level, the corporate market share is even larger. The AJC’s analysis found that large companies own at least 20% of the homes in nine metro Atlanta census tracts.

 
Meanwhile, state laws make it easy for corporate landlords to maximize profits, shirk their maintenance responsibilities and evict tenants when they refuse to pay for an uninhabitable home, the AJC found. Studies show the largest single-family landlords take full advantage, raising rents and fees faster — and evicting tenants more frequently — than small and mid-sized landlords.
Understaffed and overwhelmed, local governments have failed to use the few tools they have to hold landlords accountable.
The consequences are strewn across the Atlanta suburbs.

 

[Raptured]

I've also noticed in my area, a very active growth area, that builders are stamping out subdivisions left and right AND apartment complexes are sprouting like weeds.

My question though is WHO.   WHO can afford this currently?   Interest rates are still up, cost of liviing is way up, income levels are stagnant.  How are people able to save enough money for a down-payment, let alone the earnest money needed to build?
Are there some fancy new loans out there?  Remember the ARMS, Jumbos, 2-tiers and others out there that locked people into a vicious cycle of debt that they're probably still feeling the effects from?   Also remember how those loans were bundled and sold making a few POS investors and banks a ton of money?
Yeah...we see where that ended up... (cough...Madoff...cough)

My adult daughter lives at home with me along with her 3yo daughter.  She works as a hair stylist at a popular men's salon chain.  She makes decent money but hardly enough to get a house let alone rent an apartment.   Subsidized housing has years-long waitlists and if, only if, you get a spot you wind up in a ghetto pretty much.

I see her situation as a common one for folks in their late 20s/early 30s.   They lack the ability to "move up" (out).  If she's the medium of the control group, again I question WHO. (see above).  Who's moving to these new houses and new apartments for 1800+ montly rent?

A lot of folks say it's all the people from CA moving here (TX) but if that were the case, are housing prices in CA declining from the supposed "mass exodus" ?

Again...I can envision a scenario where these new neighborhoods and complexes begin to empty.  People won't be able to affort to live in them.  I highly doubt that housing costs will decrease.  Has it ever?    These dormant properties will sit and companies will begin to struggle and they'll be prime for Big Gubment to come swooping in (with the help of 3rd parties of course) and attain control