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A major problem is that people in nice neighborhoods don't want low income housing built next to them.
You mean they don’t want loud music, gangs, police sirens, trash, loiterers, shootouts, fights, robberies, squatters, pest infestation, riots, and looting next to their residence?
Wow, how shocking.
Quote:
Originally Posted by ncole1
What gives you the right to regulate things beyond the bounds of your property?
You mean they don’t want loud music, gangs, police sirens, trash, loiterers, shootouts, fights, robberies, squatters, pest infestation, riots, and looting next to their residence?
Wow, how shocking.
It is kind of amazing all the wonders that low income housing brings to your life.
Investors bought around one in every seven homes in the first quarter of this year.
For single-family homes purchased by investors, there was a 4.8% increase year-over-year in the first quarter. Investors also retain the most significant market share in multifamily properties, having bought nearly 26% of those during the first quarter in the U.S.
Investors are buying everything, including lower-priced homes. One of every five lower-priced homes sold in the U.S. during the first quarter was purchased by an investor.
And the fact remains that many if not most visa over stayers leave when they are supposed to but those who jump our border illegally are here in much larger numbers and most of them have remained here or if deported they keep coming back anyway.
Investors bought around one in every seven homes in the first quarter of this year.
For single-family homes purchased by investors, there was a 4.8% increase year-over-year in the first quarter. Investors also retain the most significant market share in multifamily properties, having bought nearly 26% of those during the first quarter in the U.S.
Investors are buying everything, including lower-priced homes. One of every five lower-priced homes sold in the U.S. during the first quarter was purchased by an investor.
Inventory = any unit (SFH, townhouse, condo, whatever) that is listed on the open market for sale that is not currently "pending" or "in escrow" or under contract in any way, shape or form. Use a 7-day moving average.
Days of inventory = Inventory / (average number of homes sold over the past 12 months) * 30
Homes for sale becoming more affordable and plentiful eventually flows downstream to the rental market as prospective landlords pick up homes and put them on the market for rent.
Incentives would end when inventory reaches a certain level defined as a percentage greater than 100% of the national or state median, or some absolute number of days of inventory, whichever is greater.
This is something I pulled out of my ass in 3 seconds.
The alternative being master planning and building a city from scratch, in the middle of nowhere, and use tax incentives (e.g. no property tax for the first 10 years, and property taxes phase in over 10 years thereafter, state reimburses federal corporate/individual income tax) to get people and jobs to move there. However this would only work if the state owned land where this could be accomplished, and use the proceeds from the sale or lease of that land to offset the tax incentives.
to simplify, you're saying > 1 month of inventory? or a greater # of months?
I ask because a "balanced market" has long been seen as 6 months of inventory ... which hasn't been seen for almost 8 years in my market; 4 months hasn't been seen for 7+ years; 3 months for 5+ years.
to simplify, you're saying > 1 month of inventory? or a greater # of months?
I suppose that would be a good starting point.
Quote:
Originally Posted by Eyebee Teepee
I ask because a "balanced market" has long been seen as 6 months of inventory ... which hasn't been seen for almost 8 years in my market; 4 months hasn't been seen for 7+ years; 3 months for 5+ years.
State intervention should only take place in the most extreme of circumstances IMO, assuming it should even take place at all, and if it does take place, it should be the absolute minimum required to provide a bit of relief. A line will need to be drawn to define what that constitutes, and it certainly shouldn't be 6 months of inventory.
do you have any link to how this was calculated? Are these second homes? Rentals between renters? Folks that have moved out of state but the house not yet sold?
do you have any link to how this was calculated? Are these second homes? Rentals between renters? Folks that have moved out of state but the house not yet sold?
all I know is that it says there are 16 million homes available and unoccupied... 1.6 million in florida alone
I have no Idea if they are abandoned, condemned, stuck in probate, handyman specials (which is usually a good deal) or turn key
but if I go by that, then there is not really a shortage... not sure what it is, but I would not say shortage
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