this post was submitted on 23 Oct 2024
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Housing Bubble 2: Return of the Ugly
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Add in other corps:
20% of all property purchases are for investments: 65% of those properties purchases are by people who own 10 or more properties.
Doesn't shock me at all. Like I said, it doesn't make much of a difference which corporations actually own them. But I'm still surprised because if someone had asked me how many homes Blackstone in specific owned, I would have guessed a lot more.
Curious to know if they're counting buildings or units. Blackstone owning one ranch-style house would be very different than Blackstone owning a 500 unit tower block.
I don't know, IMO a home is a home. You can buy a condo just like you can buy a house. You can buy a condo bigger than some houses.
A very big building holds more people than a very little building
What difference does that make? This is about housing prices, not capacity.
The cost of housing isn't just the price of the unit. If you need to spend an extra $500/mo on the commute, plus random budget buster repairs, a "cheap" house can be less affordable than an "expensive" one.
I’m sure they have more hidden away in subsidiaries and shell companies
That was my guess.