Why giant investment company rentals are being blamed for affordable housing issues in Jacksonville
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- Опубликовано: 11 июн 2024
- A News4JAX I-TEAM analysis of Jacksonville property records found more than 9,600 homes across Duval County are owned by large, institutional investors, which are companies that have more than 1,000 homes nationwide in their portfolio.
I love how the big company that buys home's defense is "hey guys, its a supply issue, don't look at us" - and I'm looking at them as the reason.
They do this with diamonds and all sorts of other things in this world. All of us would have land and a house..
It's a supply issue that suits the institutional vultures.
@@eattherich9215 you are free to go and build as many homes as you would like.
When you control a market you control prices. It costs to compete. This is why you don't see prices driven down by competition. Corporation cooperate.
@@MikeJohnson-nj1ry nobody controls the market....they may have market penetration...but they do not control the market.
y'all just figuring this out now....20 years after the damage is done.
bravo!
They're doing it here in Alabama too. It's disgusting
what is disgusting?
@@bsmiddy236 taking housing away from locals. and making it only for out-of-staters and people who don't belong.
@@bsmiddy236 Using single family housing as a corporate or private equity investments
@@safeandeffectivelol and...why is it disgusting?...let me guess you have no idea why!! this property was built by a private entity...and then sold to someone else...it is not owned by the government.....so you can kiss off!! Now if you would like to take oyur money and go buy a house and give to someone else to live in feel free to do that...until then quit being a loser!!
'... it is not owned by the government.....' What the hell are you talking about?
But this has been said years ago. A stop should be put to this immediately!
And does anyone think legislation will ever set a cap on the number of houses any one entity can own? They rather watch homelessness grown.
what does homelessness have to do with them buying homes?......ohhh wait nothing
Homelessness? How is this issue linked to homelessness?
Most of the homeless people with whom I've talked, said they eventually ended up on the streets cause of high cost on living, in particular home prices and rising rent.
@@cesarsanchez5396 That is their own doing then.
been homeless almost a year, and thought It would take a month or 2, price jumped again within that time
It’s all about making a profit.
that is how we all survive
Wall Street and Black Rock creating a problem and giving you the solution which equals more 💰
all over!! especially georgia & texas
Here in South Florida all new constructions is for rental only. If it is a new condo they will start at 700k and up. Who can buy like this.
Don’t forget that the sellers accepted the offers from these institutions. Everyone is to blame.
At my old apartment which I used to live in Fremont, California, the rent went up 100% for a little over 10 years. That calculates ~8-10% rent increase every single year where wages aren't even close to that %.
This is the issues Dasantis should be working on not Disney and running for president.
Disney started it. Disney wants to broom our children. Disney decided to put their nose into our politics. So stop blaming DeSantis. Duck Disney.
Factz security and economics should be top priority to any state issues
@@instrestingvideos5620 you guys talk like you can't chew gum and walk....
@@notusedexer If you didn't understand what we said then either your high or were too intelligent for an old man that plays a guitar on youtube. you worried about the wrongs things buddy grow up, probably why your wife left you too
@@notusedexer: 'Disney wants to broom our children.' 😂😂😂
It's happening all over the state...
Prices going up as people move money out of California because of all the moratoriums and restrictions. Investing in California is just too risky so they look for investments with less risk.
And the government isn't doing anything about it..
How is this not an illegal trust?
Why should it be illegal? Companies do the same to commercial real estate, hotels, casinos, etc…
This will backfire
They can not do this in the Northeast because there is no inventory.
There is a significant amount of new build in FL. With higher interest rates, the private investor return on investment goes down. The only thing that saves them is that if investors do new build neighborhoods for rent it works because they can eliminate builder profit in the short term thus making the rent charged an acceptable return. If you think the FL legislature is going to help Blue Duval country, think again.
That's why they call it the American dream. You gotta be asleep.
"You will own nothing and be happy"
I say it's high time for some heads to roll 🙃🙂🙃🙂....🤭
Add penalties for institutional investing in real estate
Progress Residential is a horrible company. BBB A+ reading with F- Reviews by tenants.
I knew the housing market was a JOKE when I got out of the service with my “guaranteed” home loan was thirty grand I think, while any house I could buy with that was in the middle of nowhere.
Not right but cannot be stopped
Huge nationwide problem, this is what modern day feudalism is important.
Landlords pay higher property taxes.
So What?
landlords can go f*ck themselves. how bout dat? 🤭
Investment companies should be blamed. This is happening in many of the Southern states. People, is it really worth paying twice what you can really afford, just to have what is considered nice weather. These companies are greedy, it's that simple. Wake up people, and do what is best for your families. Bless you.
Regulations are needed because these bastards will just buy the new homes
Part of their solution. Build more homes, more investments. You should be able to do that. Build your own homes and rent them
They bought mine and I think they get nailed to the cross.
For those who are still waiting for that big crash, you better rethink about buying while you can
Oh the crash is coming!
@@bs4real I hear ya..... when exactly do you think that will happen?
any place that has instituted regulations has made the situation worse
He's a liar it's not a supply and demand problem it's greedy rich people problem
As a landlord, if you want to make affordable housing work then states and the government need to build affordable housing rentals and have them run by non-profits. The government should not be telling landlords what to do with our property. We have given Ukraine 150 Billion dollars. Biden also wants to pay down student loans at a cost of 400 billion dollars. The US could do it but it won't. All talk but nothing gets done.
They should be fine for billions of dollars
EAYSY FIX ! CITY OFFICIALS SHOULD MANDATE THAT A NEW PURCHASE OF A HOME CAN NOT BE RENTED OUT DURING THE FIRST YEAR. 🏘
It has to be owner occupied the first year, and this will DISCOURAGE THESE GREEDY BILLIONAIRES killing the HARD-WORKING PEOPLE and will drive the home prices go down.
😜 🏡
wow let's raise the sickle or the swastika.....just looking at zillow not mls...there are 3200 houses for sale and 2300 rentals available in Duval.
home prices will go down when the supply is greater than the demand.....
This is a ridiculous proposition. So you think leaving these houses vacant for a year to satisfy this law will actually help drive down rents?? 🤦🏽♂️
@@MartinD9999 You know what I find ridiculous? Anyone thinking they have the right to tell someone what to do with their property...It's not yours! Did you not listen to the video??? One company came in and built a neighborhood just to rent the houses out.
@@bsmiddy236 it's not simply how many houses are for sale, it's how much they are going for (average, median, etc.). There of course is a lot of nuance to be discussed but the main two I'll focus on are location and price points.
Location is obviously important, tho maybe not as critical thanks to remote work, but for many blue collar jobs it may have more of an impact in limiting where someone can buy/rent.
Secondly is price point, by which I mean how many of those houses that are for sale fall into the starter home price range? How many of those places for rent fall into an affordable price range for a working class family?
My point is we can't just do a simple aggregate and say "hey look! there's plenty of homes" we must dig deeper.