Home sales spike 14.5% in February as the median price drops for the
first time in over a decade
...
...
All-cash sales accounted for 28% of transactions in February, down
from 29% in January but up from 25% in February 2022. Individual
investors returned, making up 18% of buyers, up from 16% in January
but down from 19% in February 2022.

https://www.cnbc.com/2023/03/21/february-home-sales-spike.html

Interesting stat suggesting there are investors afoot, who either buy
them for rentals, or a future sell with a higher price (flippers).

Retired persons from California, or retired persons, would represent a
chunk of these cash buys. Moving into another state, etc.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On 2023-03-21, JAB <here@is.invalid> wrote:

All-cash sales accounted for 28% of transactions in February, down
from 29% in January but up from 25% in February 2022. Individual
investors returned, making up 18% of buyers, up from 16% in January
but down from 19% in February 2022.

Retired persons from California, or retired persons, would represent a
chunk of these cash buys. Moving into another state, etc.

Looks to me like rich people getting richer, while poor people struggle
to buy a home. 'MERICA, FUCK YEAH.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On 3/21/2023 17:16, Retrograde wrote:

On 2023-03-21, JAB<here@is.invalid> wrote:

All-cash sales accounted for 28% of transactions in February, down
from 29% in January but up from 25% in February 2022. Individual
investors returned, making up 18% of buyers, up from 16% in January
but down from 19% in February 2022.

Retired persons from California, or retired persons, would represent a
chunk of these cash buys. Moving into another state, etc.

Looks to me like rich people getting richer, while poor people struggle
to buy a home.

That depends on the locale. I'm blown away at housing costs in large
cities; Especially on the west coast. Around here, you can still get
project homes for under $10k. People do land-contracts also, with a
couple grand down. It makes literally no sense to waste money on rent.
Of course, I can't speak for other metropolitan areas; but there are
lots of cheap homes in Pittsburgh, PA (you can't be picky about the neighborhood). Poor people will find a way if they try.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On Mon, 27 Mar 2023 12:21:35 -0400, Michael Trew
<michael.trew@att.net> wrote:

That depends on the locale.

As a function of employment opportunities, housing tends to be much
cheaper where fewer jobs and lower wages exist.

And in northern US climates, those winter based heating bills may be
quite high if 70F temp is maintained.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On Tue, 21 Mar 2023 21:16:34 +0000, Retrograde
<fungus@amongus.com.invalid> wrote:

Looks to me like rich people getting richer

One current investor game is to buy a home with cash, then flip it.


Investors flipped more than 407,000 single-family homes and condos
last year, up 58% from 2020, according to data released Thursday by
property data firm ATTOM. The average windfall on those sales:
$67,900. https://finance.yahoo.com/news/much-money-flipping-house-days-154021082.html

Or buy it, then rent it out

Winifred Jones has been going through the emotional roller coaster
that is trying to buy a home for six years. She wants a multifamily
property in Hartford, Conn., so that her adult children can live with
her but also have their own space. Every year, she says, there's been
more and more competition, and more investors coming in and outbidding
her with cash. She's so sick of getting outbid for homes and then
seeing them come up for rentals a few months later that she and her
realtor are thinking of trying to find homeowners who are going to
sell before they officially list their properties for sale. Until
then, she says, she has little optimism she'll find something.

https://time.com/6261427/current-us-housing-market-inventory-low/


Or buy directly from suckers and losers at much lower appraised
value...

We Buy Houses
Fast Cash

posted signs around a town.

A new report shows that homes bought by investors off-market are, on
average, sold for half the value than when listed on the market,
primarily in low-income and minority neighbourhoods.

https://www.weforum.org/agenda/2023/03/how-to-fix-america-s-broken-housing-market/

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

On 3/27/2023 12:49, JAB wrote:

On Mon, 27 Mar 2023 12:21:35 -0400, Michael Trew
<michael.trew@att.net> wrote:

That depends on the locale.

As a function of employment opportunities, housing tends to be much
cheaper where fewer jobs and lower wages exist.

And in northern US climates, those winter based heating bills may be
quite high if 70F temp is maintained.

Unnecessary to maintain 70F anywhere. Perhaps for the infirm or
elderly. I heat my house to 60. If you're broke and heat to 50, that's
a good deal better than freezing to death.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)