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Living in Florida makes one thing clear, people all want to move to the same places or few cities which drives those individual markets and surrounding markets up substantially.
You see people from 3-4 different states weekly all attempting to relocate to the same areas in a state with limited resources and places to build. It is killing younger people attempting to buy a home here and adds to the feel of low pay as salary cannot keep up with the increase in housing cost here. But you don't see a lot of big investors.
What is amazing is how all these people relocating to a state with thousands of miles of beaches keep picking the same 4-5 spots to relocate too. Many are already retired and still choose places that only make sense if you are concerned with the job market.
There has to be some collusion with Florida home builders and real estate agents in the North because I cannot figure out why everyone moves to the same places when you have hundreds of options for beautiful beach and nature access. Especially if you're retiring.
The Villages, a massive over 55 community in the middle of nowhere , mid state is the fastest growing HOA in the world. Just read over the weekend that several high ranking employees / consultants of The Villages happen to also be state legislatures. And the state now taking the cost/ risk of impact fees off the developer and putting it on the state.
♦Tom Donilon’s brother, Mike Donilon is a Senior Advisor to Joe Biden {link} providing guidance on what policies should be implemented within the administration. Mike Donilon guides the focus of spending, budgets, regulation and white house policy from his position of Senior Advisor to the President.
♦Tom Donilon’s wife, Catherine Russell, is the White House Personnel Director {link}. In that position Donilon’s wife controls every hire in the Office of the Presidency.
♦Tom Donilon’s daughter, Sarah Donilon, who graduated college in 2019, now works on the White House National Security Council {link}
So let me just summarize this…. The Chairman of the BlackRock Investment Institute, the guy who tells the $8.7 trillion investment firm BlackRock where to put their money, has a brother who is the Senior Advisor to Joe Biden; has a wife who is the White House Personnel Director; and has a daughter who is now on the National Security Council.
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The Chairman of the BlackRock Investment Institute is Tom Donilon, President Obama’s former National Security Advisor (before Susan Rice), and a key advisor to Joe Biden throughout his career in politics.
The market value of any commodity is based upon a trade between a buyer and seller.
There are thousands of economies in the US and sometimes thousands of real estate markets within those local economies. It’s down to the zip, neighborhood within a zip, a block or sub division within and surrounding geography.
DR Horton, one of the most prolific home builders, made the business decision to put its Amber Pines at Foster Ridge in Conroe, Tx, a purpose- built rental subdivision of 124 homes out for bid as a block. . It attracted more than 200 bids from investment companies who competed for the property.
Contrary to my previous post and many media articles, Invitatiin Homes lost and Fundrise LLC won. The latter is not affiliated with Blackrock.
Most of Fundrise’s funding is sourced from private and public pension plans.
Homes range in size from 1409-2609 sq fr and rent for $1780- 2400/ mo to highly qualified applicants. Open floor plans, stainless steel kitchen packages, granite counters, engineered wood floors etc are what buyers and renters want, in this area.
What was a rental remained a rental.
I fully understand the value is what a willing buyer will pay a willing seller. While working, DH and I bought and sold 17 houses. Some were bought to rehab and make money on.
Houston is iffy due to half the population lives outside the city limits. We would be a large city if it were possible to incorporate. There is still a large amount of land for locating master planned communities. They will build when the market is ready and charge what people can pay. That frequently depresses the price of older homes outside the loop. Most buyers in Houston want move in ready.
We've made some money, and sometimes if we were transferred when the oil companies were laying off people we have barely broken even.
Now the city of Houston, inside loop 610 will never go down in price. But I have seen times when one couldn't give away a house, even in the Woodlands. It's all contingent on the price of oil. And with the situation at Exxon, who knows?
The Woodlands and the Conroe area came back to life when Exxon located within a 10 minute commute, just south of the Woodlands. And it is one of the reddest areas in deep red Texas.
When government talks about “ affordable housing” , it tends to become anything but.
If there is a will be minimize institutional investment in housing, change the rules and tax the hell out of non- owner occupied housing it and profits.
Some of those who want an administration position just want resume filler but others have an agenda either legislation or true believers.
Trump hired ex Democrats including his son in law Kushner who also has dealings with Soros. Being from NYC and home of Wall Street Trump used alot of people from there.
The issue with BlackRock is are they positioning for sadly standard political favors or are they another bunch of billionaires along the lines of the Jack Dorsey's or Phil Murphy's
If there is a will be minimize institutional investment in housing, change the rules and tax the hell out of non- owner occupied housing it and profits.
Or at least attenuate some of the tax-perks available to real-estate investors, that are unavailable for investors in equities or private businesses.
I receive at least 2 inquiries each day about selling my home to investors (and I doubt they'd offer the going market rate). Of the seven homes on my block, all seven were owner-occupied when I moved in 17 years ago. Now, only 3 are owner-occupied.
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Originally Posted by Dane_in_LA
Owners of certain smart thermostats saw them bricked when the product line was retired. Printers won't work if they're not on the Internet so HP can make life harder for unauthorized ink cartridges.
Take a lesson from the Battlestar Galactica (2003): avoid computer networking whenever possible.
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Originally Posted by middle-aged mom
People seem to believe just about anything when it seems to validate their perceptions.
The Federal Government has no authority over municipal zoning.
Repeating for the folks in the back!
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