http://www.businessinsider.com/the-1-percent-is-buying-up-all-the-real-estate-beware-of-tom-lee-of-jpm-2012-5 RE investors, take note of what is happening because you may be facing ruthless competition, the 1 percent!
The 1 Percent Is Buying Up All the Real Estate
By bgamall4 Follow Mon, 21 May 2012, 6:22pm 527 views 2 comments
In Reno NV 89502
Watch (1) Share
Quote
Permalink Like Dislike Viewing Comments 1-2 of 2 Last » See most liked comments
|
Premium member bgamall4 is moderator of this thread. |
Follow
Befriend (14)
744 threads
2,571 comments
63 male
Las Vegas, NV
bgamall4's website
Premium
Hey guys, this article was featured on the BI front page today along with some interesting comments. Besides getting my fair share of abuse, some of the comments are very insightful.
Follow
Befriend (2)
15 threads
428 comments
Reston, VA
Good article.
I was pretty annoyed when HUD gave the big dogs a chance to buy up huge lots of properties at huge discounts. If they sold properties one by one, and funds outbid everyone, then so be it. But they shouldn't give preferential deals to people with 100s of millions.
At the time, Shiller was on the news talking about the business model of funds managing SFH all over the place. He was not expecting this to work well long term.
If anyone on this site is concerned about house prices being too high and thinks that excessive wealth accumulation by a few small people is no problem, then they should read your article.