Sunday, March 5, 2017
Because Renters Are Easier To Control...
...And because suburban real estate is just too juicy to be left in the hands of ordinary citizens.
After all, if capital companies can come in, after a huge housing value collapse, and buy up huge blocks for pennies on the dollar, and make out quite well in making them rentals, why not continue the trend and keep on buying it (if nothing else, you might at least get bulk discounts). Not only does this keep the paper value high for all such family homes, by continuallly crowding the market, keeping the private investor out, it adds a big block of servicing, paper investments (without foreclosure headaches), that can make your total book value look very bright indeed.
Strong arm the renters whenever you can, and brook absolutely no non payers (and with the right rental eviction laws in place), and you keep the paper value going indefinitely. Or at least until people have had enough and they start burning things down (either literally, or figuratively).
Yup, I can see why home buying is down for this demographic group.