Good sign that you're running hot.
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Replying to @AndToddsaid
I am? I'm responding calmly; you're deleting stuff.
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Replying to @MorlockP
I wasn't embarrassed, I thought I could do better. I don't think I missed your argument at all. Sure, 1.7 mil houses get built every year. Do those split evenly across all price ranges? Doubt it. Again, things aren't a problem for people who can bear them is a trivial take.
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Replying to @AndToddsaid @MorlockP
Evenly, proportionally, whatever. You understand my point. In before
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Replying to @AndToddsaid
I DON'T understand your point, actually or, maybe I do, but if I do, then it's a confused point that has nothing to do with what I'm arguing...so I hope / think that maybe I'm not understanding it
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Replying to @MorlockP
Houses are a lot less fungible than you make them out to be. But maybe I'm misreading this and in the long run, it's a good thing. Right now, when you bid on a house, the effective market size is one house. With Blackrock, maybe eventually one buys house the same way as Doritos.
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Replying to @AndToddsaid
> Houses are a lot less fungible than you make them out to be. I haunt http://realtor.com all the time for fun, and whole identical houses don't exist outside of development tracts, the market for "3 bed, 2 bath, upper middle class, 1/2 hr from city X" is huge
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Replying to @MorlockP @AndToddsaid
Houses are pretty fungible. If you don't buy one, you can probably find a pretty similar one in a pretty similar area for a pretty similar price - even in this ridiculous market. These companies buying up houses everywhere... I can almost see where they are coming from.
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If you offer well above asking and you have the cash, and you want a boatload of houses quick to start turning around rent, maybe offering that high price is worth it. No negotiation, back and forth, no BS. It's yours. Done. Turn around for rent. Rinse. Repeat.
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Replying to @VarangianSkull @MorlockP
So, my thoughts are still coming together here, but my fundamental concern remains. Something is off when profit-maximizing firms are willing to go 150% above market for anything. There's a perverse incentive behind this, and it will yield perverse results.
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> profit-maximizing firms are willing to go 150% above market I'd argue that they're willing to go AT market, and the previously bid prices were way UNDER market. Rationalization of prices is good.
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