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Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by zeroCalories on Monday October 16, 2023 @04:59PM (#37906560)
Rentals make up a small percentage of single family homes. Around 5% depending on where you are. Not letting black rock buy a home won't save you from the overpaid tech worker or nurse-account power couple from dropping 1.5x the listing price in cash. We know flooding supply works because we've seen it play out. Tokyo is the biggest metro area in the world, with a growing population, and reasonable rents because the government took serious measures to increase supply. Restricting demand by banning corporate investors probably won't help, but even if they did it did the effects would be minor. Focus on the solutions we know will work.
Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by Supermancho on Monday October 16, 2023 @08:42PM (#37908741)
> Not letting black rock buy a home won't save you from the overpaid tech worker or nurse-account power couple from dropping 1.5x the listing price in cash.

What data do you have to support this?

> As of 2022, investment companies own about one-fourth of all single-family homes in the US, accounting for 22% of American homes sold, down from 80% in 2020-2021

Naturally, the homes bought are all in the most densely populated areas with a relatively new construction (gentrified neighborhoods). I think it's gonna be a couple years before prices drop.

Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by zeroCalories on Monday October 16, 2023 @11:41PM (#37910299)
https://www.yardimatrix.com/publications/download/file/2530-...

Large institutions own 5%. Most of these "investors" are house flippers and small landlords trying to "make it big in real estate". It's not the 1% strangling the working class, it's the 10%. Any solution that doesn't hit them the hardest won't be a solution. Infact, we want more density, we need more gentrification, so I don't want to discourage large institutions from investing in a new apartment. But at the very least, if you claim to care about housing prices, don't prevent the government from building more housing.

Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by DrReachAround on Tuesday October 17, 2023 @12:39AM (#37910696)
The average home size in Tokyo is 60 square meters, that's 645 square feet. That's called a one room studio apartment in the US. I don't personally know anyone that wants to live in a box like that, except maybe single people just out of college with little income.
Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by javagram on Tuesday October 17, 2023 @11:11AM (#37916375)
There are plenty of people in the USA who live in apartments today. Building more apartments is outlawed in many areas due to land use rules. If people truly won’t live in the apartments, land use rules can be abolished and developers and builders won’t build those homes because they’ll find them unsaleable in the marketplace.
Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by kbelder on Tuesday October 17, 2023 @11:37AM (#37916806)
There's lots of people with little income. Many would find a tiny apartment preferable to not having a place to live.
Re:If the Economy Is So Strong, Why Are Consumer Stocks Tank... by userinanother on Tuesday October 17, 2023 @01:37PM (#37918597)
Yeah but you get so many local amenities and conveniences in that 600sf place in Tokyo. In the USA you get none of that