JPMorgan to spend $1B on rental homes in the US to become a megalandlord

Re:JPMorgan to spend $1B on rental homes in the US to become... by kennend3 on Saturday December 31, 2022 @10:02AM (#34197003)

> JP morgan is going to sqeeze as much profit as possible, why would they do anything to lower rents?

Thankfully everyone else who is currently in the rental business is NOT donig this already?

Speaking of naive, you fail to understand JPM will have to compete with the existing landlords or their units will remain empty.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by falcolas on Saturday December 31, 2022 @10:20AM (#34197176)

The demand for housing outstrips supply. There will be no competition.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by nostrademons on Saturday December 31, 2022 @10:50AM (#34197466)

Then building new homes means that people who were previously homeless now get to rent. At exorbitant prices, yes, but most would say that is better than homelessness.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by s1artibartfast on Saturday December 31, 2022 @10:52AM (#34197487)

There already is. Look around and you won't see any 1 BRs listed for 1M/month rent.

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Re:JPMorgan to spend $1B on rental homes in the US to become... by rightbyte on Saturday December 31, 2022 @12:42PM (#34198705)

Landlords might not want to maximize income by lowering rents since they might have to write down their property values and thus prefer "temporary" vacancies.

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