A couple decades of unregulated immigration from Mexico does not help. Mexicans tend to work hard, save money and are willing to live in households with several adults having revenue streams. Millions of new potential buyers, but no infrastructure to keep up with the level of growth. Especially when nobody wants to admit we have at least 30 million extra folk from south of the border living here.
Every 10 years when we have a recession investors will buy up a extra house for a rental investment.
When I worked in new house construction 12 - 15 years ago another scheme would be to buy a new track house at the beginning of the phase one. Then a few months later sell that house at a profit of several thousand dollars as the final stages of the track house project was wrapping up. I remember 13 years ago I was helping with layout on a track housing project in Irvine, CA. the first phase houses were going for 550,00. Months later as we were finishing the last phase. Phase 7. The same houses were going for 1.2 million each. Investors were flipping each phase as they completed.
A couple decades of unregulated immigration from Mexico does not help. Mexicans tend to work hard, save money and are willing to live in households with several adults having revenue streams. Millions of new potential buyers, but no infrastructure to keep up with the level of growth. Especially when nobody wants to admit we have at least 30 million extra folk from south of the border living here.
Every 10 years when we have a recession investors will buy up a extra house for a rental investment.
When I worked in new house construction 12 - 15 years ago another scheme would be to buy a new track house at the beginning of the phase one. Then a few months later sell that house at a profit of several thousand dollars as the final stages of the track house project was wrapping up. I remember 13 years ago I was helping with layout on a track housing project in Irvine, CA. the first phase houses were going for 550,00. Months later as we were finishing the last phase. Phase 7. The same houses were going for 1.2 million each. Investors were flipping each phase as they completed.