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suzi-r t1_j8lo0y4 wrote

Reply to comment by idreamofchickpea in How Vermont’s Housing Crisis Got So Bad by punkthesystem

Some say hedge funds. Some in my area are empty, too. We need our communities back!

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idreamofchickpea t1_j8lp39n wrote

Hedge funds, private equity, investment banks - why all the mystery? Rhetorical, I just wish government gave a single shit about anything other than their endless fundraising.

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suzi-r t1_j8lq3h8 wrote

Yeah, it’s all about the almighty dollar. Can’t wait till the pendulum swings back to better values and strong community for all.

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Pctechguy2003 t1_j8ooyxv wrote

So wait.. as in the house is used simply as a line on an asset page - without generating income? Its one thing to own a $250K house rented at $1500 a month and say “thats a 250K asset producing $1500 a month…” its another thing to buy that same house and say “its a $300K asset” - and let it set empty. Sounds great on paper. But at some point these houses need to get off loaded to produce cash somehow. If nothing else when the boomers die off there will be a housing surplus - one that ‘buying a shit ton of empty houses to inflate prices’ will not be able to fix. If you only have a population of 275 million, but 500 million homes in the country…. Something doesn’t add up.

Sounds like we found ourselves the next Ponzi scheme if thats the case.

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