The new real estate normal

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I think buying a single-family house you do not intend to live in should be banned for individuals and corporations. Edit: after reading replies, I see that house rentals can be a good thing. I just don’t want to see wealthy people and corporations continue to scalp these single-family houses from families who DO want to own and settle down. There should be more regulation.

ilovebeansheyheyhey

This is just so sad. What a grim next decade we’ll be watching unfold.

benbernards

Great article. Personally I’m not convinced this is the new normal though especially when you see how crazy people are acting. The frenzy will end at some point and investors are going to dump inventory. I suspect many people are scrambling to buy because they’re worried (or hoping) prices will climb indefinitely and are FOMOing into the market. People always have a choice. You can choose a different location, you can choose a different type of house, and you can choose to just stay renting for a bit. You don’t have to get into bidding wars and pay a $100k or more premium just because you’re concerned about the future.

jimmycarr1

Endless articles about asset prices is one of Shilller’s criteria for being in a bubble (see Irrational Exuberance). I don’t know if it’s ironic or meta, but it is amusing.

SuperSpikeVBall

I don’t think it’s safe to assume anything about the real estate market is normal until the construction supply chain is functioning at 100% again. A ton of the craziness with real estate is affected significantly by the fact that we haven’t been able to finish building houses/apartments/etc.

way2lazy2care