Downfall of mainstream media

[The Real timschochet 5,232]

I listened to Keith Olbermann’s podcast last night. He’s incensed that CBS agreed not to fact check Vance during the debate. He believes that the media wants Trump to win. He’s as crazy as some of you clowns just from the other direction. 

[jonnyutah 223]

Springfield shows exactly how mass migration in the US has played a massive role in effing up housing prices. 

The media should be covering it like crazy. 

The story that should follow all this hurricane coverage is how the massive population increases in the last 50 years in our coastal areas are making hurricane damage far worse for similarly rated storms historically. 

This leads to housing cost increases for everybody. 

But oh noes...we cant say hector and ramon breaking in is bad, so... climate change!

 

[The Real timschochet 5,232]

1 minute ago, jonnyutah said:

Springfield shows exactly how mass migration in the US has played a massive role in effing up housing prices. 

The media should be covering it like crazy. 

The story that should follow all this hurricane coverage is how the massive population increases in the last 50 years in our coastal areas are making hurricane damage far worse for similarly rated storms historically. 

This leads to housing cost increases for everybody. 

But oh noes...we cant say hector and ramon breaking in is bad, so... climate change!

 

So sick of this crap. You know what Springfield shows? Hatred, intolerance and fear. And the sickness of MAGA. Like this story: 

https://www.independent.co.uk/news/world/americas/us-politics/springfield-ohio-haitians-death-threats-b2621689.html

Every Trump supporter should be forced to read that. And if you still support what he’s doing, you should bow your head in shame. 

[EternalShinyAndChrome 3,407]

10 minutes ago, The Real timschochet said:

So sick of this crap. You know what Springfield shows? Hatred, intolerance and fear. And the sickness of MAGA. Like this story: 

https://www.independent.co.uk/news/world/americas/us-politics/springfield-ohio-haitians-death-threats-b2621689.html

Every Trump supporter should be forced to read that. And if you still support what he’s doing, you should bow your head in shame. 

I love this NIMBY liberal. 

"As long as they aren't near me, I'm okay with it, you racists!". 

[Hardcore troubadour 14,163]

1 hour ago, jonnyutah said:

Springfield shows exactly how mass migration in the US has played a massive role in effing up housing prices. 

The media should be covering it like crazy. 

The story that should follow all this hurricane coverage is how the massive population increases in the last 50 years in our coastal areas are making hurricane damage far worse for similarly rated storms historically. 

This leads to housing cost increases for everybody. 

But oh noes...we cant say hector and ramon breaking in is bad, so... climate change!

 

Tim Hack and Gutterboy told us all the migrants coming here had no affect on housing costs. Maybe on the border states a little. They said that while drinking a bud light at Disneyland. 

[Hardcore troubadour 14,163]

30 minutes ago, The Real timschochet said:

So sick of this crap. You know what Springfield shows? Hatred, intolerance and fear. And the sickness of MAGA. Like this story: 

https://www.independent.co.uk/news/world/americas/us-politics/springfield-ohio-haitians-death-threats-b2621689.html

Every Trump supporter should be forced to read that. And if you still support what he’s doing, you should bow your head in shame. 

You doing anything to help? 

[jonnyutah 223]

24 minutes ago, The Real timschochet said:

So sick of this crap. You know what Springfield shows? Hatred, intolerance and fear. And the sickness of MAGA. Like this story: 

https://www.independent.co.uk/news/world/americas/us-politics/springfield-ohio-haitians-death-threats-b2621689.html

Every Trump supporter should be forced to read that. And if you still support what he’s doing, you should bow your head in shame. 

As usual, little uneducated timmy. 

His community turned on him because he is part of King George's scheme and he took part in a propaganda video where he called all the local people drug addicts and losers. 

Has nothing to do with MAGA or Trump. 

The media would know this if they actually interviewed one local. Does the guy deserve death threats? Of course not, but he deserves to be called a traitor. 

The media doesnt want that story though. They want this to be about white supremacy and trump and MAGA. 

For all we know the death threats arent real. This stuff ends up being a hoax way too often.

[TimHauck 2,444]

50 minutes ago, jonnyutah said:

The story that should follow all this hurricane coverage is how the massive population increases in the last 50 years in our coastal areas are making hurricane damage far worse for similarly rated storms historically. 

Do you think immigrants are the ones living in the million+ dollar homes that are most often the ones destroyed by hurricanes in the coastal areas?  If so, they must be doing pretty well!

[TimHauck 2,444]

15 minutes ago, jonnyutah said:

As usual, little uneducated timmy. 

His community turned on him because he is part of King George's scheme and he took part in a propaganda video where he called all the local people drug addicts and losers. 

Has nothing to do with MAGA or Trump. 

The media would know this if they actually interviewed one local. Does the guy deserve death threats? Of course not, but he deserves to be called a traitor. 

The media doesnt want that story though. They want this to be about white supremacy and trump and MAGA. 

For all we know the death threats arent real. This stuff ends up being a hoax way too often.

He’s a traitor because 10% of his employees are Haitian?  Hyperbole much?

[jonnyutah 223]

44 minutes ago, TimHauck said:

He’s a traitor because 10% of his employees are Haitian?  Hyperbole much?

Reading comprehension. Make it your thing. 

Thanks in advance.

Signed,

All of us geeks

[TimHauck 2,444]

2 minutes ago, jonnyutah said:

Reading comprehension. Make it your thing. 

Thanks in advance.

Signed,

All of us geeks

Telling the truth.  Make it your thing.

Thanks in advance.

Signed,

The geeks that don’t appreciate lying (which seems to be a small number these days)

[jonnyutah 223]

48 minutes ago, TimHauck said:

Do you think immigrants are the ones living in the million+ dollar homes that are most often the ones destroyed by hurricanes in the coastal areas?  If so, they must be doing pretty well!

Yep. Remember when all those articles were written about Houston and how it was all the well off people that had all the problems and all the poor areas survived no problem and thank god this city has no classism or racism? 

Yep. It is always crazy to see only the well built wealthy homes get destroyed.

 

[TimHauck 2,444]

1 minute ago, jonnyutah said:

Yep. Remember when all those articles were written about Houston and how it was all the well off people that had all the problems and all the poor areas survived no problem and thank god this city has no classism or racism? 

Yep. It is always crazy to see only the well built wealthy homes get destroyed.

 

Houston?  What was that, Harvey?  7 years ago?  Thanks for proving my point (key words in my previous post being “most often”).

 

[jerryskids 6,162]

3 hours ago, Sean Mooney said:

Jerry there are two ways to handle this:

1.) Here are the issues in small towns across America related to illegal immigration. Take a town like Springfield, Ohio where the number of illegal immigrants is up and it is causing......"

2.) ""In Springfield, they are eating the dogs. The people that came in, they are eating the cats. They’re eating – they are eating the pets of the people that live there."

 

Number 1 might be boring but the story is illegal immigration and the impact it has on middle and small town America. Number 2 makes the speaker look like a lunatic and makes the comment itself the story and not the situation in the town. The reports are not about a "small town being swarmed"...it's about a Presidential candidate throwing out baseless claims. Plus it has the added effect of having government building and schools shut down for bomb threats and everything...

Sorry, I fell asleep during your first option it was so boring, so I never read the rest.

2 hours ago, TimHauck said:

Do you think immigrants are the ones living in the million+ dollar homes that are most often the ones destroyed by hurricanes in the coastal areas?  If so, they must be doing pretty well!

This is dumb.  10 expensive homes get destroyed, and 1000X as many hovels more inland get destroyed.  If you've been to coastal communities, you know you don't have to go very far inland to find the shacks that house the people who work for the rich people/resorts.

[Sean Mooney 1,815]

4 minutes ago, jerryskids said:

Sorry, I fell asleep during your first option it was so boring, so I never read the rest.

It's okay to just admit Trump didn't help anything. He made the story about his clownishness and nothing else. 

[Fnord 1,664]

18 hours ago, jerryskids said:

Is your straw man now that bringing attention to the issue is bad?  I thought we were discussing Trump being a horrible public speaker as per Sean.  Seems you are saying he is too effective of a public speaker.   

It's not a strawman. Real people are being threatened due to the garbage coming from the GOP campaign. Also, I'm guessing the FBI would not assess the threats as credible if they were all coming from "foreign sources" like many MAGA would like you to believe. 

[Fnord 1,664]

17 hours ago, jonnyutah said:

"They shot Ashley Babbitt because she had been warned over and over and she was breaking into an area she wasnt supposed to be in."

How is the bold above any different to what I typed just above.  

And then how is it any different when foreign invaders break through our legal defenses instead of legal ports of entry.  Frequently with armed officers yelling at them to stop. Ashley Babbitt was not a murderer. We do however know that many of the illegals breaking in are murderers though.

Seems you are willing to make all sorts of considerations for them, but not for american citizens. 

At least we agree with shooting the people trying to overrun a police precinct, so you have some sanity. 

 

If the "foreign invaders" were holding guns, or even another type of weapon, and/or physically threatening border agents, sure, go ahead and shoot them. But your typical "invader" isn't invading shlt. He's coming here because there's promise of a better life. And yes, I'm sure some of those coming into the country are the worst kinds of people. But most aren't, and we have plenty of the worst kind of people here already. We're not advocating for them to be shot. Yet.

The solution there seems to be better enforcement at the border, not erecting a fence and killing intruders on sight.

[Fnord 1,664]

13 hours ago, jonnyutah said:

I saw seven crows in a row on a fence. The cops dindu nuffin bout it. 

Well done. I chuckled. 

[jerryskids 6,162]

8 minutes ago, Fnord said:

It's not a strawman. Real people are being threatened due to the garbage coming from the GOP campaign. Also, I'm guessing the FBI would not assess the threats as credible if they were all coming from "foreign sources" like many MAGA would like you to believe. 

An argument can both be a strawman and be correct.

Quote

A straw man argument is a logical fallacy that involves misrepresenting an opponent's argument in order to make it easier to attack. The arguer then uses this misrepresentation to refute their opponent's argument, while ignoring stronger versions of it.

We were discussing Trump's speech ability...

 

2 hours ago, Sean Mooney said:

It's okay to just admit Trump didn't help anything. He made the story about his clownishness and nothing else. 

... and here we are, still discussing the situation in Springfield.   

[Fnord 1,664]

13 hours ago, jonmx said:

Government abuse power when they are out in charge of energy

Government abuse power when they are out in charge of food

Government abuse power when they are out in charge of Healthcare

Government abuse power when they are out in charge of food

Government abuse power when they are out in charge of technology.

The very last thing we ever want to do is give government the power to indiscriminately kill people in the name of defending people

Our government is a lot more corrupt and evil than people realize and it is going to get a lot worse over the next decade unless we strip it's unchecked authority away. 

 

Who gets the authority once you've stripped it from government?

Also, you can substitute Large Corporations for Government in all of the above statements and they'd also be true. 

[Sean Mooney 1,815]

3 minutes ago, jerryskids said:

An argument can both be a strawman and be correct.

We were discussing Trump's speech ability...

 

... and here we are, still discussing the situation in Springfield.   

We are discussing Trump's speaking style....not the immigrants. 

Also, I'm not looking to garner votes nor can I do anything about what is happening there. 

[jerryskids 6,162]

6 minutes ago, Sean Mooney said:

We are discussing Trump's speaking style....not the immigrants. 

Also, I'm not looking to garner votes nor can I do anything about what is happening there. 

I know, I just told @Fnordexactly that.   

[Hardcore troubadour 14,163]

Threats! From the internet! Threats! 

[Fnord 1,664]

1 hour ago, jerryskids said:

An argument can both be a strawman and be correct.

We were discussing Trump's speech ability...

 

... and here we are, still discussing the situation in Springfield.   

Yeah, I think I hopped into a conversation you and Mooney were having and changed the subject to suit my complaints. Trump sucks. Carry on!

[jonnyutah 223]

10 hours ago, jerryskids said:

Sorry, I fell asleep during your first option it was so boring, so I never read the rest.

This is dumb.  10 expensive homes get destroyed, and 1000X as many hovels more inland get destroyed.  If you've been to coastal communities, you know you don't have to go very far inland to find the shacks that house the people who work for the rich people/resorts.

He thinks coastal area=beachfront property. 

It is cute that he still tries to sit at the adult table. 

[TimHauck 2,444]

9 hours ago, jerryskids said:

 

This is dumb.  10 expensive homes get destroyed, and 1000X as many hovels more inland get destroyed.  If you've been to coastal communities, you know you don't have to go very far inland to find the shacks that house the people who work for the rich people/resorts.

I’ve been to many coastal communities particularly in the southeast, and with all the development in the past ~20 years, those areas you mention are getting fewer and fewer from what I’ve seen.  Many of the people that work in coastal communities live 20+ miles away.

I’d agree that for the really bad like once every 5-10+ year type storm then the lower income areas get hit harder, but for the more common medium-intensity hurricanes, their impact seems to be more focused close to the coast IMO.   And of course even when lower income areas are impacted, that doesn’t necessarily mean many of the people impacted are immigrants as @jonnyutah implies.

But I’ll admit I’m not an insurance adjuster, so would be curious if there is actual data on this.

Also going back to @jonnyutah’s comment, I’ll acknowledge that “population increases” contribute to increased cost of damage, but if we’re talking coastal areas, that population increase is driven by Americans wanting to move to desirable areas, not illegal immigrants

[jonnyutah 223]

7 hours ago, Fnord said:

If the "foreign invaders" were holding guns, or even another type of weapon, and/or physically threatening border agents, sure, go ahead and shoot them. But your typical "invader" isn't invading shlt. He's coming here because there's promise of a better life. And yes, I'm sure some of those coming into the country are the worst kinds of people. But most aren't, and we have plenty of the worst kind of people here already. We're not advocating for them to be shot. Yet.

The solution there seems to be better enforcement at the border, not erecting a fence and killing intruders on sight.

Kill a few and the rest will stop. Give them tons of warnings in multiple languages.

Hell you could even have people go undercover to identify some bad hombres. Pew pew pew.

Instead now it is a free for all because Biden and Harris literally lift up barbed wire to let them all in.

This way we can have an orderly immigration system via legal ports of entry. Only criminals would still be trying to sneak across a border you could get shot at. 

[TimHauck 2,444]

14 hours ago, jonnyutah said:

Springfield shows exactly how mass migration in the US has played a massive role in effing up housing prices. 

The media should be covering it like crazy. 

The story that should follow all this hurricane coverage is how the massive population increases in the last 50 years in our coastal areas are making hurricane damage far worse for similarly rated storms historically. 

This leads to housing cost increases for everybody. 

But oh noes...we cant say hector and ramon breaking in is bad, so... climate change!

 

Also, housing costs were not even rising at a ridiculous rate until Covid - that (people realizing they really didn’t want to live in an apartment when the next pandemic hit) was the single biggest reason for the increases in the past 5 years in particular, not illegal immigration 

[jonnyutah 223]

10 minutes ago, TimHauck said:

I’ve been to many coastal communities particularly in the southeast, and with all the development in the past ~20 years, those areas you mention are getting fewer and fewer from what I’ve seen.  Many of the people that work in coastal communities live 20+ miles away.

I’d agree that for the really bad like once every 5-10+ year type storm then the lower income areas get hit harder, but for the more common medium-intensity hurricanes, their impact seems to be more focused close to the coast IMO.   And of course even when lower income areas are impacted, that doesn’t necessarily mean many of the people impacted are immigrants as @jonnyutah implies.

But I’ll admit I’m not an insurance adjuster, so would be curious if there is actual data on this.

Also going back to @jonnyutah’s comment, I’ll acknowledge that “population increases” contribute to increased cost of damage, but if we’re talking coastal areas, that population increase is driven by Americans wanting to move to desirable areas, not illegal immigrants

Look at a population chart of the US for the last 60 years. Look at a birth rate chart for the US for the last 60 years. Look at a legal immigration chart over the last 60 years. Look at population charts for coastal areas over the last 60 years. 

Maybe google the phrase "immigrants more likely to settle in coastal areas" and just read what google Ai replies with. 

 Look at %'s of foreign born in coastal areas. 

This isnt really groundbreaking analysis. This is just a topic the media avoids like the plague. Its all immigrants grow the economy! We need them, jobs americans dont want, blah blah. 

Then they also talk about the "housing crisis"!!! 

It takes much longer to build a new housing unit than it does to let people in and we consistently let people in. 

These two things are directly related. It is one of the most obvious and easy conclusions to arrive at. 

But somehow people fight against it like crazy. Nut uh! Immigrants arent living in those nice houses over there! I know one house that sold for a million! No immigrants there! 

Instead of just looking at the obvious. 

 

 

[jonnyutah 223]

1 hour ago, TimHauck said:

Also, housing costs were not even rising at a ridiculous rate until Covid - that (people realizing they really didn’t want to live in an apartment when the next pandemic hit) was the single biggest reason for the increases in the past 5 years in particular, not illegal immigration 

Happy you brought that up. Covid hit and rent inflation in US cities went way down. Housing prices went up. 

Then in june of 2021 rent in US cities started rising fast. Hitting the highest rent inflation in 35 years two years later, until cooling a bit to levels still above pre-pandemic. Housing prices obviously went down then as people moved back to the cities, right? Right? 

Wait what? Housing prices kept going up in 2021??? And even after? What?!!!?

Even as interest rates went up up up?

How can this be? What could have happened starting in 2021 to cause all these things to be true? Its just a mystery. 

 

[TimHauck 2,444]

6 hours ago, jonnyutah said:

Happy you brought that up. Covid hit and rent inflation in US cities went way down. Housing prices went up. 

Then in june of 2021 rent in US cities started rising fast. Hitting the highest rent inflation in 35 years two years later, until cooling a bit to levels still above pre-pandemic. Housing prices obviously went down then as people moved back to the cities, right? Right? 

Wait what? Housing prices kept going up in 2021??? And even after? What?!!!?

Even as interest rates went up up up?

How can this be? What could have happened starting in 2021 to cause all these things to be true? Its just a mystery. 

 

Home prices & rents went up nearly everywhere, in every price bracket.  That means it wasn’t illegal immigration driving it, which would only really impact the lowest price brackets, in areas that saw large numbers of illegal immigrants.

If anything, an increase an illegal immigration in 2021 would’ve helped prices not rise even faster than they did, because in addition to the effect of the pandemic (which was still going on), a big reason for the sharp increases in 2021/2022 was inflation and the increase in construction & repair costs that occurred as a result.

You’re welcome for solving your mystery.  Let me know if there’s any other mysteries that you’re too dumb to solve.

[TimHauck 2,444]

6 hours ago, jonnyutah said:

Look at a population chart of the US for the last 60 years. Look at a birth rate chart for the US for the last 60 years. Look at a legal immigration chart over the last 60 years. Look at population charts for coastal areas over the last 60 years. 

Maybe google the phrase "immigrants more likely to settle in coastal areas" and just read what google Ai replies with. 

 Look at %'s of foreign born in coastal areas. 

This isnt really groundbreaking analysis. This is just a topic the media avoids like the plague. Its all immigrants grow the economy! We need them, jobs americans dont want, blah blah. 

Then they also talk about the "housing crisis"!!! 

It takes much longer to build a new housing unit than it does to let people in and we consistently let people in. 

These two things are directly related. It is one of the most obvious and easy conclusions to arrive at. 

But somehow people fight against it like crazy. Nut uh! Immigrants arent living in those nice houses over there! I know one house that sold for a million! No immigrants there! 

Instead of just looking at the obvious. 

 

 

How exactly are you defining “coastal area”?

[Fnord 1,664]

10 hours ago, jonnyutah said:

Happy you brought that up. Covid hit and rent inflation in US cities went way down. Housing prices went up. 

Then in june of 2021 rent in US cities started rising fast. Hitting the highest rent inflation in 35 years two years later, until cooling a bit to levels still above pre-pandemic. Housing prices obviously went down then as people moved back to the cities, right? Right? 

Wait what? Housing prices kept going up in 2021??? And even after? What?!!!?

Even as interest rates went up up up?

How can this be? What could have happened starting in 2021 to cause all these things to be true? Its just a mystery. 

 

I think way too many people are ignoring what might be the biggest factor in rising prices and lack of availability

Many factors have influenced this unusual housing market, of course. But one that affects the housing shortage in particular is institutional real estate investment. Redfin reports that real estate investors purchased about 44,000 homes in the U.S. during the first quarter of 2024 — that’s close to 19 percent of all U.S. homes sold during that time frame. The share of lower-priced homes bought by investors was even higher at 26.1 percent.

These large investment companies are exacerbating the home inventory shortage by buying up the most affordable properties and renting them out, making it even harder for individuals and families, especially first-time homebuyers, to get themselves onto the housing ladder.

[Hardcore troubadour 14,163]

Hack told us the banks buying up residential properties have no or little influence on the price of housing. Told us it was a hoax. Some other leftards did too. They stick up for hedge funds now. 

[TimHauck 2,444]

3 hours ago, Fnord said:

I think way too many people are ignoring what might be the biggest factor in rising prices and lack of availability

Many factors have influenced this unusual housing market, of course. But one that affects the housing shortage in particular is institutional real estate investment. Redfin reports that real estate investors purchased about 44,000 homes in the U.S. during the first quarter of 2024 — that’s close to 19 percent of all U.S. homes sold during that time frame. The share of lower-priced homes bought by investors was even higher at 26.1 percent.

These large investment companies are exacerbating the home inventory shortage by buying up the most affordable properties and renting them out, making it even harder for individuals and families, especially first-time homebuyers, to get themselves onto the housing ladder.

Disagree.  Like massive increases in illegal immigration, Wall Street buying up huge numbers of homes is concentrated in certain markets, so it doesn’t explain prices going up nationally.  And even then, some of these numbers are overstated when they talk about “investors” buying homes, which often includes Mom and Pop investors that have always been around.

On the other hand, the rising cost of new homes and repairs/materials due to inflation was directly evident in increasing housing costs across the country.   There are many stories of people under contract on new construction houses around 2021 that either had their prices increase due to materials costs or the builders complaining that they were losing money.  It’s also why it impacted all pricing brackets including trickling down to lower price brackets as well.   That’s how economics works, not the opposite with some of these idiots claiming an increase in people looking for the cheapest apartments around will somehow cause prices to rise in all price brackets everywhere.

[TimHauck 2,444]

On 10/1/2024 at 11:01 AM, jerryskids said:

 

This is dumb.  10 expensive homes get destroyed, and 1000X as many hovels more inland get destroyed.  If you've been to coastal communities, you know you don't have to go very far inland to find the shacks that house the people who work for the rich people/resorts.

One other comment in relation to this, not really in response to you but just something I thought of with Helene.  I know my earlier comment was about hurricanes generally hitting coasts, but even in regards to Helene in NC which hit inland areas worse (I live about 2 hours from some of the hardest hit areas), we don’t know all the details yet but I have a feeling even this will have a bigger impact on higher dollar homes.  My understanding is the worst part of Helene was just the tremendous amounts of rain that caused rivers and other bodies of water to flood, and the homes most in danger from that are likely to be riverfront (there was even some major flooding in some small areas here, but mostly confined to riverfront homes).  Also while there are definitely plenty of locals living there, many of the towns impacted are sorta resort areas and often second homes, so more reason it’s likely higher dollar homes were more impacted.

[jonnyutah 223]

16 hours ago, TimHauck said:

Home prices & rents went up nearly everywhere, in every price bracket.  That means it wasn’t illegal immigration driving it, which would only really impact the lowest price brackets, in areas that saw large numbers of illegal immigrants.

If anything, an increase an illegal immigration in 2021 would’ve helped prices not rise even faster than they did, because in addition to the effect of the pandemic (which was still going on), a big reason for the sharp increases in 2021/2022 was inflation and the increase in construction & repair costs that occurred as a result.

You’re welcome for solving your mystery.  Let me know if there’s any other mysteries that you’re too dumb to solve.

So like do you think zillow has houses that were 150k and have gone up to like 225k and then they have houses that were 225k and those just stayed at 225k? 

Or are there two different sites? Zillow Espanol 

Hahahahahaha. No more serious replies for you. Just pure mockery forever. 

[TimHauck 2,444]

13 minutes ago, jonnyutah said:

So like do you think zillow has houses that were 150k and have gone up to like 225k and then they have houses that were 225k and those just stayed at 225k? 

Or are there two different sites? Zillow Espanol 

Hahahahahaha. No more serious replies for you. Just pure mockery forever. 

Huh?  If there are cities/towns that saw prices increase but didn’t see a significant number of illegal immigrants (and there are many such places), then that means illegal immigration isn't what caused prices to increase.  This isn’t rocket science.  The reasons I listed were things that impacted everywhere.

And again, even for places that did have large numbers of illegal immigrants, thinking that a bunch of illegal immigrants trying to find the cheapest apartments possible would increase home prices in all price brackets is one of the most dumb things I’ve read on here. Not surprised you’re one of the idiots that thinks that.

[jonnyutah 223]

11 hours ago, Fnord said:

I think way too many people are ignoring what might be the biggest factor in rising prices and lack of availability

Many factors have influenced this unusual housing market, of course. But one that affects the housing shortage in particular is institutional real estate investment. Redfin reports that real estate investors purchased about 44,000 homes in the U.S. during the first quarter of 2024 — that’s close to 19 percent of all U.S. homes sold during that time frame. The share of lower-priced homes bought by investors was even higher at 26.1 percent.

These large investment companies are exacerbating the home inventory shortage by buying up the most affordable properties and renting them out, making it even harder for individuals and families, especially first-time homebuyers, to get themselves onto the housing ladder.

This definitely is a part of the equation. But again without continuous supply of renters these homes dont get purchased for as much. 

A REIT can overpay because often times the current investors just want to make the deal look sweeter to new investors. 

They also can rent to higher risk renters because they might be trying to temporarily boost the appearance. 

Hey look at us we own 20 properties. They are all rented! Also look how much each property has appreciated! Man we can sure scope them out! Bought at the perfect time! 

But in reality they could have artificially spiked their own market by over bidding. This all looks like massive gains and steady income for a snapshot in time. 

Now normally there would be a crash after the sharks get out. But when you have constant pressure, to the point where even the motels are fetching big bucks in some places, there was a whole new round available to rinse and repeat. 

When you pile 12 people into a place even if a few lose their jobs, rent probably still going to get paid. Especially when so many of their other expenses are getting covered. 

Homeless NGOs play a part in this crap too believe it or not. It is just an endless supply of funny money right now. 

All of it because of our lovely government. 

Its freaking wild.

 

[TimHauck 2,444]

3 minutes ago, jonnyutah said:

This definitely is a part of the equation. But again without continuous supply of renters these homes dont get purchased for as much. 

A REIT can overpay because often times the current investors just want to make the deal look sweeter to new investors. 

They also can rent to higher risk renters because they might be trying to temporarily boost the appearance. 

Hey look at us we own 20 properties. They are all rented! Also look how much each property has appreciated! Man we can sure scope them out! Bought at the perfect time! 

But in reality they could have artificially spiked their own market by over bidding. This all looks like massive gains and steady income for a snapshot in time. 

Now normally there would be a crash after the sharks get out. But when you have constant pressure, to the point where even the motels are fetching big bucks in some places, there was a whole new round available to rinse and repeat. 

When you pile 12 people into a place even if a few lose their jobs, rent probably still going to get paid. Especially when so many of their other expenses are getting covered. 

Homeless NGOs play a part in this crap too believe it or not. It is just an endless supply of funny money right now. 

All of it because of our lovely government. 

Its freaking wild.

 

Please tell me you don’t think it’s primarily illegal immigrants renting the single family homes owned by Wall Street companies?  If so, holy fock you’re dumb.  The majority of these have rents well above the median and are in decent neighborhoods filled with NIMBY’s pissed that the houses are rentals at all (I lived in one), so if they were being crammed with illegal immigrants it would be all over social media.  In reality the people renting them generally looked like the people that own the other houses.

Please stop just making sh1t up as you go.