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China will buy them.
Who are Boomers going to sell their houses to? Millennials with student loan debt shut out of housing market. How many years until people holding their homes won’t be able to sell them? Not rhetorical. I think about that a lot.
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They already are
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I will be there to buy them at super discounted rates.
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You’ll buy them, then what?
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Rents, baby!
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Exactly
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People that can’t afford the house will be able to afford the rent? Do you expect the rent will cover your monthly mortgage on the property?
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Typically what disqualifies you from buying a house isn't what disqualifies you from renting. I've no idea about the cashflow of the property, but if you buy when the market is down it shouldn't be difficult to at least meet your mortgage payment until the market rises again.
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That’s right. The demographic that is disqualified from buying a house isn’t looking to buy a boomers house, which is, specifically, what’s mentioned. Duplexes and less valuable properties, I understand how it works. With Boomer properties, I just don’t see it working.
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I’m a realtor and investor. I have single family homes bought between 2010-2016. I’ll get 20 interested renters when a home opens up. When you have a 50% divorce rate you need 2 homes instead of one. They don’t want the commitment of a mortgage and their credit is often shot.
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If young Americans don't have the capital to buy them, they'll look to rich foreigners. Another globalist-populist battle on the horizon.
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LA is a prime example of that.
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That may be the case for the big cities like nyc or la. But no foreigner wants to buy an americam house in the middle of nowhere
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Urban and rural living have their pros and cons. Compared to urban crowding, traffic, and pollution, ‘the middle of nowhere’ is paradise.
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Banks and foreign investors will buy them. They have the money. They'll rent them, or keep them as investment properties, while governments keep trying to inflate property prices, to help landowners.
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Amazon and Zillow are actually buying them off sellers even if there is no buyer lined up. Zillow Offers is already in 11 cities. Amazon teamed up with Realogy last week.
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ugh, sickening. It didn't even occur to me that corporations such as Zillow would just start buying them. They might become the Carmax of real estate. Or Amazon, I guess the race is on.
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Foreign investment drove up a lot of housing prices here in SoCal. The other factor is artificially limited supply. It costs a fortune to build in CA with all the regulations.
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Please don’t let King Newsome take prop 13 away from the Scott family, Ron
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