Re:Investors bought a record share of U.S. homes in 2021
by BeetleB on Friday February 18, 2022 @12:28PM
(#30388528)
The difference is that if they increased the price by $10K, you can get the loan to pay them, and you amortize that payment over 30 years. Many people are financially stressed enough to pay the downpayment - essentially you are saying the downpayment should go up by $10K. They may not have that $10K.
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Re:Investors bought a record share of U.S. homes in 2021
by lkbm on Friday February 18, 2022 @01:24PM
(#30389230)
Yes, this is a very material difference to a lot of people, but the original claim was that it's something that only a speculator would do. I'm saying that as a person looking to buy and move into a house, this is 100% something I'd be happy to do.
Where I am, I'm seriously considering down payments in the hundreds of thousands. Should houses be that expensive? No, I personally believe we should build so much housing that it tanks the market. But the reality for people trying to buy a house here (Austin TX), +$10k to the down payment is insignificant compared to the price variation between home A and home B.