Companies buying family homes?

VMware
OWpk74

Go to company page VMware

OWpk74
Jan 7 28 Comments

We all know the housing market is going crazy . Many people on blind and elsewhere have been commenting on how the government needs to fix this. What Iโ€™m unable to understand though is why is it that big corporations are allowed to own single family homes?? Zillow bought a ton of houses in phoenix, I can only imagine that it has had some sort of impact on the prices of that area. In Washington, many of the rental properties/single family homes are owned by blackrock and those dudes jack up the rents cause ofcourse, they own the market. Why isnโ€™t this illegal already?


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TOP 28 Comments
  • Apple
    NIoR10

    Go to company page Apple

    NIoR10
    Because this isnโ€™t Cuba or China
    Jan 7 2
  • VMware
    UFgW02

    Go to company page VMware

    UFgW02
    Where do you draw the line? Should non-citizens be allowed to buy property? As much as I hate these investor property buys, they do in some sense provide the liquidity in housing market.
    Jan 7 6
  • New
    ny2022

    New

    ny2022
    Same question was posted sometime back and I really liked the taxes answer. Corporate homes should be taxed at much higher rate and that could even out things
    Jan 7 1
  • New / Product
    NetworkPro

    New Product

    NetworkPro
    How will you regulate? Small mom and pop landlords use LLC's to hold properties. If you were to impose caps on the large corporations, they will become a holding company and will spin off multiple LLC's. It's going to be hard
    Jan 7 3
  • Meta
    bucket ๐Ÿชฃ

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    bucket ๐Ÿชฃ
    Zillow is selling because they were losing a ton of money.
    Jan 7 2
    • VMware
      OWpk74

      Go to company page VMware

      OWpk74
      OP
      Tbh Iโ€™m not sure I buy that narrative cause on their own website, their zestimate shows the price going up by say 10% for a particular area in a year. Yet theyโ€™re selling it at a slight loss. Just doesnโ€™t make sense, am I missing something?
      Jan 7
    • Amazon
      PzKGg7nL

      Go to company page Amazon

      PzKGg7nL
      Yeah the problem isnโ€™t the losses itโ€™s the volatility. Zillow realized that they couldnโ€™t predict the prices well enough and they risked bankruptcy in a downturn.
      Jan 7