Yes, the grass gets long and the weeds get tall. When city code enforcement informs the investment firm they are in violation, they just ignore the notices. The city then contracts to a 3rd party to bring the property into compliance. The city then places a lein on the property, that also gets ignored until the property sells. The city's cut is the interest accrued on the money they paid to the 3rd party and the fines. It's very profitable for the cities, so the wheels just keep on turning...
Used cars ARE everywhere. But they are covering up for the planned "oops, cars are too expensive for the Hoi polloi because....um...silicon chips!" move they made in 2021.
It's why the used market has vehicles selling for almost MSRP 100k miles later.
Brought in to buy up? Hell, they were commissioning new houses to be build. About 60 - 75% of the houses we were building had nobody moving into them. Just a property management company. Not sure if it was Blackrock, but it was some management company
High house prices are a function of super low interest rates. Well with inflation at 8+% and the fed raising rates the housing bubbles days are numbered.
I like this theory. Aliens with the way they're low backing assessments now prior to closing to create downward pressure. But, how do they get out without taking a loss?
My city started in 2020 and basically after all the houses for sale went rich New Yorkers are knocking on doors and offering cash above property value to buy houses not even for sale.
Yes, the grass gets long and the weeds get tall. When city code enforcement informs the investment firm they are in violation, they just ignore the notices. The city then contracts to a 3rd party to bring the property into compliance. The city then places a lein on the property, that also gets ignored until the property sells. The city's cut is the interest accrued on the money they paid to the 3rd party and the fines. It's very profitable for the cities, so the wheels just keep on turning...
Used cars ARE everywhere. But they are covering up for the planned "oops, cars are too expensive for the Hoi polloi because....um...silicon chips!" move they made in 2021.
It's why the used market has vehicles selling for almost MSRP 100k miles later.
Brought in to buy up? Hell, they were commissioning new houses to be build. About 60 - 75% of the houses we were building had nobody moving into them. Just a property management company. Not sure if it was Blackrock, but it was some management company
High house prices are a function of super low interest rates. Well with inflation at 8+% and the fed raising rates the housing bubbles days are numbered.
I like this theory. Aliens with the way they're low backing assessments now prior to closing to create downward pressure. But, how do they get out without taking a loss?
My city started in 2020 and basically after all the houses for sale went rich New Yorkers are knocking on doors and offering cash above property value to buy houses not even for sale.