Ill tell you where my disagreement with the ‘pig bulls’ is: That all this doesnt matter to the little guy like me.
Look, 4 years ago I couldnt afford Jack or shit. Maybe I could buy a spot under a freeway overpass with high voltage wires running next to it. Now, I can buy something I may actually want to live in. Sure, all those deep pockets will come rushing in and buy up the best deals; how is that a suprise? They get the IPO deals in stocks, they get the best repo’s, they get the PIPP money, they get to hide their money in foreign tax havens until the day before the IRS comes down on them and then ‘come clean without penalty'(or minor penalty). The game is rigged against me in EVERY game I try to play.
But when those guys buy a house at 40cents/$, and sell it to me for slightly under market making a killing, I GET TO BUY A HOUSE FOR SLIGHTLY UNDER MARKET. (ie also known as affordable) Sure, it would have been more affordable if they wernt in the game acting like useless middle men. But name me another market where those same middle men dont exist with other first and last names.
Every time these guys buy up houses they either rent them out, increasing rental supply and lowering prices, or sell them to someone at ‘slightly under market’, slighlty lowering the market. Either way prices for housing fall until base line affordable (in today’s reality, not historical average) hits. Maybe it takes longer than I want, maybe I wont get the deal of the century, maybe things never get as good as they should have. But I get to buy a house I want for a price I can pay and can live my life where I want to. As a bonified ‘little guy’; ill take what I can get. (atleast until I get to be something else)
