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A comment on Investors bought a quarter of US homes sold last year. Parent comment

Re:Investors bought a quarter of US homes sold last year by kitsunesoba on Tuesday August 23, 2022 @03:36PM (#32570239)
This pretty much nails it. The way I saw it put which feels fitting is, “Everybody who moves into San Francisco wants to be the last person to move into San Francisco”. Of course this isn’t a practical desire in any city, but that doesn’t stop people from trying to make it happen anyway.
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Re:Investors bought a quarter of US homes sold last year by TuringNYC on Tuesday August 23, 2022 @06:10PM (#32572259)
>> “Everybody who moves into San Francisco wants to be the last person to move into San Francisco”.

Person moves to SF and puts down life savings as down-payment on 1:4 leveraged home...not a surprise they want to ensure they arent wiped out. A 20% decrease in value wipes out the life savings. The whole system is designed to perpetuate itsself.

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