Hawaiis a bit different than most. Not a lot of vacant land relative to places like the lower 48. And it'd be a shame to deforest such a beautiful place to make room. Sorry if Hawaii is unaffordable for most.
Now in most places yeah supply and demand will affect housing. But really there aren't enough good paying jobs for there to be more homeowners to own a home. If they built more houses they'd sit empty. The only people who don't have at Least an apartment are the lazy homeless. That problem can't be solved.
What often happens is someone gets a mortgage from a bank in their town. Then that bank sells the mortgages in bunches to black rock. These small banks want fat cash up front, and there's a certain risk that some number of mortgage payers will stop paying. Black rock doesn't care about risk, they'll get bailed out. This is what caused 2008 bailouts.
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Hawaiis a bit different than most. Not a lot of vacant land relative to places like the lower 48. And it'd be a shame to deforest such a beautiful place to make room. Sorry if Hawaii is unaffordable for most.
Now in most places yeah supply and demand will affect housing. But really there aren't enough good paying jobs for there to be more homeowners to own a home. If they built more houses they'd sit empty. The only people who don't have at Least an apartment are the lazy homeless. That problem can't be solved.
You mean Blackrock buys the old houses to corner the market.
What often happens is someone gets a mortgage from a bank in their town. Then that bank sells the mortgages in bunches to black rock. These small banks want fat cash up front, and there's a certain risk that some number of mortgage payers will stop paying. Black rock doesn't care about risk, they'll get bailed out. This is what caused 2008 bailouts.
They usually just flip them. That's their current game anyway.
Yeah they make trillions flipping houses.
As far as I can tell they aren't in the business of renting them.
There's a different firm named black stone doing that.