NBC News’ Gabe Gutierrez takes us to Atlanta for a closer look at a growing trend— large financial firms buying and renting out single-family homes. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
» Watch more NBC video: http://bit.ly/MoreNBCNews
NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows.
Connect with NBC News Online!
NBC News App: https://smart.link/5d0cd9df61b80
Breaking News Alerts: https://link.nbcnews.com/join/5cj/breaking-news-signup?cid=sm_npd_nn_yt_bn-clip_190621
Visit NBCNews.Com: http://nbcnews.to/ReadNBC
Find NBC News on Facebook: http://nbcnews.to/LikeNBC
Follow NBC News on Twitter: http://nbcnews.to/FollowNBC
#REITS #RealEstate #HousingMarket
Investment Companies Pricing Out Homebuyers
Take the tax incentives away from these investors
It’s funny when black people talk about gentrification people turn a blind eye. They just think where complaining. But now that literally the same thing is happing in other communities people are outraged.
Oh let’s make it about race.
By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the Agriculture Department.
After the disaster in the housing mortgage debacle of 2007-2008, this is unconscionable. Nothing learned except how to “screw American working class people.”
As I veteran my self, I’ve been looking to buy an apartment for a 8 months, made offers on three all denied because someone(or a firm, they never tell which) offered cash, is frustrating.
And when will the government stop this?? Ahhh never!
Depressing. Should be illegal!
Self-fulfilling prophecy: Americans are renting because owning is expensive because corporate real estate is buying houses because there are people to rent them out to. Essentially manufacturing demand for your own product. Then they use the existence of this demand that they and their peers created to rationalize their continued behavior.
I thought U.K. Was screwed. Seem like U.S experiencing big issues too with housing.
This has been going on for the past 2 decades. Housing prices soaring up and they wonder why we have no middle class anymore and the homeless population continue to rise. This whole world is fkd due to greed and exploitation.
Thank you! New bubble. I was thinking it was commercial real-estate and I was wrong! Please raising the rents for people that can’t pay. As soon as their credit cards run out, what happens next?
A couple things: this is also on sellers who cares if cash closes quicker?VA and FHA have to make the process easier and prep buyers better.
They are using these houses as a bank
😂😂😂😂 government buying up property so u can move in a gated community also owned by them
This has got to stop. This shouldn’t be legal.
Why isn’t this illegal yet soon it will be a monopoly when they buy everything
oh boo hoo she cant buy a 250k house.
These companies buy homes like ticket scalpers to sell them at an inflated cost.
I feel horrible for the VET lady…all these money hungry investors are effing up the everyday working class…she served to protect these same people and now she gets the short end of the stick…make me sick
Sounds to me like they pricing out a certain demographic in order to keep that demographic from buying land. Just a thought…
Also in Tennessee, the investment companies are buying up land and building whole subdivisions. Nashville area used to be more affordable. The salary is not keeping up with houses prices.
This is so unfair to the average family
Since the 2008 real estate market crash, big companies have been using cash offers to shove aside families hoping to buy a home. I’ve been tracking it very closely, and recall many stories of people trying in vain to buy a house despite thousands of foreclosures. mortgage holders would only negotiate sale of foreclosures with investment firms in many cases and the US government was encouraging it.
This should be illegal.
Buying a house is the biggest asset and builds generational wealth.These companies are making it much harder on the poor and middle class.All the inventory is gone
And here we have it. On Money Twitter they talk about buying up properties and churning into rental. They say it’s not like families can afford the purchase anyway so why not provide via rental.
But the fact of the matter is that families CAN afford the downpymt and mortgage. They just get priced out by entities!
Should be taxed x4 for leaving a house vacant.
That’s why a realtor has a responsibility to make sure this doesn’t happen. To many money hungry realtors
Absolutely. The agents, but it is also the sellers too. The sellers see the dollar signs first but don’t know the whole outcome.
“You will own nothing and be happy”
it’s all part of the plan folks
Their will only be the rich and poor inevitably ….
They need to put a limit on those investors
When we sell our house we will only sell to a family. This is a family neighborhood.
Our neighbor across the street has kids with children. If tell him we were selling before we put it on the market. (Though kids don’t always want to live that close)
My sister-in-law and her husband bought a home with a lower bid than cash Corp offers because the sells wanted to sell to a family that would live in it.
Let’s face it. In 10 years the middle class will be reduced to the serf class, while the executive class becomes the new lords and ladies for the corporations (foreign and domestic) who own our neighborhoods and farmlands. Working class Americans will have to pursue “The American Dream” in any of a dozen other developed nations or face poverty wages, skyrocketing rents, no healthcare, overall a poorer quality of life than the previous generations
The housing market was created by the banks
Bought my 2200 square feet house for 165000. Now it’s worth 320k. Investor wanted to buy my house…l say 550k!!! Lol
That’s what I’m saying . I have 100k equity in my home. You want my house pay me something that I can work partime on or fully retire and have money in the bank for the future. 550k is a good starting point.
It’s the SELLERS FAULT for selling to these greedy investors.
Middlemen, inflation/extortion, crime against humanity.
this is really getting out of hand. Nowadays middle class Americans are getting trampled by corporate institutions. There should be restrictions on how much houses they can buy and priority should be given to homebuyers. Looks like no one wants legislation on these important matter, might take another year or more for senate and house to pass build back better.
Time to leave before this whole thing collapses
They should have laws in place to protect potential homebuyers who will make their home a primary residence.
Same thing is happening in Los Angeles.
Attn: homeowners……if you plan to sell your house, you can stop this. You have the power. We can do this together, the middle class.
Wait until you find out about private equity in medicine.
I WISH homes here in Colorado only cost $250k. That’s 1/2 the down payment or more.
Klaus Schaub is doing this.
Same thing that flipper investors do to young families looking for a fixer upper in a good neighborhood. They come in cash offer. Then it’s back on the market for someone with deep pockets to purchase. No longer in the price range for the young couple. Then back renting for them.
Its time to bring some legislation to rein in these monopolization under control..🤔
This makes me sick!
Everything comes full circle
Ought to get real jobs :/ so sad. Mao was right about landlords
Houses are just structured notes with with an call option. Get coupon payments every month and if rates increase significantly, they get an upside of appreciation. Tennessee, maybe the people you vote for isn’t the person that represents your interests.
We purposely sold our house to a family. When we took offers we read them all and two offers were submitted with hand written letters from families. We ended up picking a Navy veteran with 2 kids and I am happy to know that it was not an investment firm that got our house.
How is this not a form of feudalism?
Trumps fault
I think it should be a crime! Homebuyers are for family buying home. Not for consumer
unintended consequences of money printing
This isnt fair what are we going to do about this? We demand the government step in…
A house for 250k oh that would be nice the average house price in NJ just hit 500k not including the 12-16k in property taxes with it. It’s ridiculous seeing home that would’ve went for 300k 3 years ago this expensive
This shouldn’t be allowed! that’s why the house crisis. Almost all of our modern era problems have to do with greed.
OMFG this is actually not accurately written. There is a separate market for blackrock and investment companies TO BUY said investment properties
There needs to be a law .. not fair at all
News flash idiots, this has been happening for YEARS now. You don’t acquire 100,000+ homes over night. Nothing new, move on. If you don’t want to be stuck renting then dont.
did you even watch.. the lady literally COULDNT buy!! They are swallowing inventory.
They want you to rent for the rest of your life.
Wall Street Landlords!
Welcome to Amerika!
This is what America gets for rejecting Mariane Williamson and Bernie Sanders.You will learn the hard way,the Democrats and Republicans are owned by corporations and will not represent you.
Wow. The rich keep getting richer.
🇺🇸🇺🇸🇺🇸
If your offer is declined, you need to raise your offer
It’s not only investment companies doing this, but also many Americans thinking flipping homes or buying an investment property will make them rich. The real problem here is that Americans are a divided people. They don’t stick up for each other and will make money off of their countrymen even if it screws them over.
You will own nothing, and you will be happy.
My mom always said save money and stay instead of moving into an apartment, its hard going to an apartment and save for a home. What would I be saving for now? It seems really spirit breaking. Why would I go to a house to rent? The rent for homes is pretty crazy too. How is this a dream?
big business America is a scam
Chinese people can’t buy homes/land in China, so they are buying up houses in America
and?
The feds need to put a stop to this.
Same things happened in China, places were sold and are held my “Private entities” to artificially increase prices. That’s what happens when money is cheap.
Home bubble is going to dwarf 2008
Every working adult I know wants to buy not rent. But they can’t get a house before a company snatches it up. So they are stuck in small apartments while their families grow. They then look to go rural, and the rural areas don’t want to become crowded with new builds so the communities there are buying up the land to reserve space. It is frustrating.
You mean the federal government is buying all these homes and saying it’s a investment company’s all sudden a investment firms are popping up .
No one opts to rent. They are forced bc of price.
To get you to work forever
This wouldn’t be so bad if you could just build more. The problem is that zoning laws and other restrictions make it hard to build. This artificially inflates the prices of existing homes. Couple that with free market on the buying end, and lower income people are squeezed out.
Either allow more housing to be built, investors can’t buy them all and expect good returns or keep the restrictions but don’t allow non-residents to own those homes.
This is an “anticompetitive scheme” except rather than other businesses, its the general public getting screwed. A federal anticompetitive law regulating this needs to be put in place asap.
It’s simple, monopoly.
Pass a law so companies can’t own single family homes.
They can still own apartment buildings and commercial buildings so they will be fine.
THIS is
SINISTER. PERNICIOUS. INSIDIOUS.
THIS.
Woop woop woop do I hear the start of a class war? 😃
The economic forum quoted “you own nothing and you be happy”.
Ppl need to stop buying from them and selling to them in protest
Don’t sell, rent your home out and buy more. Why sell when you can get cash flow?
For a small time landlord, that can be a PiTA with minimal actual profit. It works for bigger companies because they are able to leverage the economy of scale.
As a Californian I wish I could find a dream home for 250k. The decent ones out here are like 800k minimum. But the demand is starting to slow down and several houses have had price reductions because of it, some even reduced by 100k. Progress 😌
This is how they will house immigrants/refugees. Then things will really get worse.
Fine. If we cant buy a house anymore, we’ll just build one. A nice and stable farmhouse that can hold up to five or six people
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” – Thomas Jefferson
The United States is a mixed economy. Specifically, it is a mixed economy of elements of both capitalism and socialism, in a constant struggling balance like yin yang.
For example, we allow people the freedom of choice when shopping for a food or supply item at a market that’s available for an asking price from the store (that’s capitalism), but was that product inspected for safety and regulation compliance such as milk or certain chemical cleaning products? You betcha (that’s socialism). Why? Because without that, we would be at risk of eating bad food or accidentally absorbing lethal compounds regularly. But does that regulation and safety oversight come with costs? Yes. Does passing that cost onto the consumer as a result be considered right? Well to capitalism yes, to socialism maybe not. That is the catch. We don’t want to necessarily eliminate that product, because then how would the individual get to live, and participate in the market and prosper? It’s a never ending struggle to answer. But we are definitely not communist, and we’re neither socialist nor capitalist, we are a mixed economy trying to get the best of both worlds and eliminate or minimize the worst of each at the same time.
Remember when they bailed out the banks in the 2008 recession? I do, I was a teenager back then and I paid very close attention to that event. That definitely wasn’t capitalism, if it was pure capitalism, those big Banks would have failed and small and medium sized, local banks and CUs would have taken over the void in the market, and we would be living in a different world if that were the case now. So why were they bailed out (a form of socialism by subsidy)? Maybe it was to protect the economy from a sudden screeching halt that would have caused chaos, or maybe it was truly a money talks cheap walks situation like most of us believe to be true. We may never know. But please look it up we are a mixed economy system but with a lot of questions to be answered.
terrorists. Companies should be investigated. This should be illegal.
I genuinely believe the corporate establishment is trying fast as it can to drive citizens out of the private real estate market. This is going to make a lot of people mad.
The American “Dream” has been twice dead for years now.
Theyre going to eventually own every house and everyone will have to rent.
Thanks a lot Fed. This is what happens when you have loose monetary policies and borrowing money is basically free.
It’s in human history to bilk as much money as you can get from a person…fact…and we let it happen every day…money….the root of all evil….fact…
Investment companies have been doing this for two years. Way to be late to the story, MSM.