Zillow has listed 93% of the hundreds of Phoenix homes it owns at a loss

Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by throwaway6734 on Sunday October 31, 2021 @07:05PM (#29061346)

Then we need to build more housing to meet demand.

> but we've made a deal with the devil where home equity and housing appreciation are major stores of wealth for the middle class. Letting the investor class corner this market feels like kicking out the ladder for anyone not already on it.

But it's not the "investor class" that's cornering the market, it's current homeowners. Housing prices are going up due to a limited supply, something that many current homeowners actively fight for

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Re:Zillow has listed 93% of the hundreds of Phoenix homes it... by brendoelfrendo on Sunday October 31, 2021 @09:36PM (#29062223)

> But it's not the "investor class" that's cornering the market, it's current homeowners.

It can be both. One keeps supply from entering the market, the other buys out the supply that does enter the market.

Long term, yes, we need to build more houses. Americans should also probably adjust their expectations and zoning laws to expect less detached single-family houses. We also probably need to stop treating residential property as an investment, however we go about doing that.

[ Parent | on HN ]