Spokane Valley, WA · Member since 2021 · 37 posts · 27 votes
Are investors hogging the housing inventory?
According to The Wall Street Journal, investor purchases "accounted for more than one in five home sales in December." That's not going over well with homeowners in suburban America, who say the surge in rentals owned by "absentee" landlords leads to a lack of property maintenance and makes it harder for local families to purchase homes. In an effort to tame the spike in corporate bids, homeowner associations are "rewriting rules" so that houses stay in the hands of those who will live in them.
Thanks for sharing, that is an interesting perspective. I personally don't agree with these homeowners, but it's good to be aware of it. I think the ones driving up prices is actually homeowners who gets so emotionally attach with a property that they are willing to bid up way over the asking price. Plus we just have a limited number of inventory.
In general, I try to avoid properties that have HOAs associated, hopefully I won't run into these types of "rules" in the near future.