Re:Baby boomers are becoming homeless at a rate not seen sin...
by BizarroLand on Monday September 25, 2023 @05:39PM
(#37651076)
The idea is simple, you burn through money to establish a monopoly, then squeeze the profits out on the back end.
Hold on long enough to get your money back plus a hefty profit, and then when it seems like the laws will change to outlaw what you're doing, then sell ahead of the wave for more than you paid to begin with and leave the next sucker holding the check when the bottom falls out.
It's worked so many times in the past and barring some sort of major legislation it will happen again.
My personal experience in recent years, in the city of Atlanta, Atlanta suburbs, and Philadelphia suburbs, is that I do not see companies buying up all the houses to rent. In the Philly burbs in particular, I see traditional home buyers bidding up the prices. Even with the high interest rates, the low supply is still causing a good bit of competition for each new listing that is in good shape. The supply of rentals in this area is pretty low as well. So if there were these large swathes of homes going from family owned to rentals, I would think it would be pretty obvious when I'm looking for a rental.