Quote:
Originally Posted by hauntedheadnc
What about them? Corporations are buying up tens of thousands of units. Also, at least in this area, even if those units aren't getting bought by investors, they aren't being built as actual housing anyway. They're being built spefically to serve as short-term rental units for tourists. The situation isn't bad in Greenville yet, but the historic, in-town, "charming" neighborhoods in Asheville are hollowing out.
|
I was asking about the US as a whole. I understand that in a touristic city like Asheville things are more complex.
Down here things are completely different as there are no big companies operating with real estate, only individual investors and even people that own 100, 200 units, they don't own a whole building. Instead, units are scattered all over a city. With a much more pulverized market, it's impossible to manipulate rent prices.
Home ownership rates are above 70%, but it seems the 2022 Census will bring a number below that. More and more people living alone and rents are more common in those arrangements.