If you sell a house these days, the buyer might be a pension fund • Hacker News Board

Re: If you sell a house these days, the buyer might be a pension fund

#301

Post by deathtraphomes » Wed, Jun 09, 2021, 4:42 PM UTC

My personal experience. With mega rental companies.

I moved into one of Invitation homes a few years ago. Looked nice when we drove up, didn’t think about why all the windows were open when we signed paperwork.

Their negligence nearly killed my family, and left us with life long injuries. The gas line was leaking natural gas, improper installation? the furnace and stove were emoting lethal levels of carbon monoxide. Detector was defective.

A portion of the AC fell into the kids room. One wall got so hot it burned my wife. Only reason we didn’t die is smell was so bad we nearly always had all windows open.

At every stage they lied and did what they could to cover up problems.

Re: If you sell a house these days, the buyer might be a pension fund

#302

Post by deelowe » Wed, Jun 09, 2021, 4:42 PM UTC

dragonwriter wrote: post #156

alert0 wrote: post #81

Earlier quoted context omitted.

Right now interest rates are low, they cannot use them as a tool in a crisis, for this reason they are printing money to lower the overall debt obligation of the US. Inflating away our debt. This will eventually lead to inflation at which point the interest rates will rise again (prediction, at the end of the decade). This is the correct play for where we are in the long term debt cycle. In my opinion, this is happen…

> Right now interest rates are low, they cannot use them as a tool in a No, interest rate are low because they are using them as a tool in a crisis .

They were trending low before COVID. Western nations are simply trying to stave off deflation as more people move into retirement and less have kids.

Re: If you sell a house these days, the buyer might be a pension fund

#303

Post by crypto-cousin » Wed, Jun 09, 2021, 4:42 PM UTC

woodruffw wrote: post #187

world_peace42 wrote: post #168

Earlier quoted context omitted.

I clicked it. Looks like he's a Republican and a Christian (and has pretty standard opinions for that intersection) who likes to write long political essays. Are you sure he's a nut job, or could you possibly just be a bigot?

COVID denialism, election denialism, and “The Great Reset” are high profile crank subjects. Being a conservative Christian doesn’t make you a crank; those things do.

Do you ever think about how crank "denialisms" are usually believed by small percentages of the population, but this time with COVID and the election it's nearly half? Isn't that strange?

Re: If you sell a house these days, the buyer might be a pension fund

#304

Post by conscion » Wed, Jun 09, 2021, 4:42 PM UTC

adflux wrote: post #16

This is what happens when you keep printing money and keep mortgage rates incredibly low. All that money's gotta go somewhere. Hey, at least the CPI isn't going up right? Its only the most expensive thing in most people's lives that has doubled in cost in about 10 years. Same thing for stock prices, and slowly other commodity prices are catching up as well. Non-homeowners are being shafted by this fed/ecb policy. Eve…

> This is what happens when you keep printing money

The problem isn't "printing money", inflation is a good thing as it encourages investment and maintains the movement of money. The problem is that printed money is only being put towards one purpose - capital markets - so the capital markets are what inflates (at the expense of everything else). If the printed money was being used on infrastructure payments, or some other distributed investment, the inflation would go to general labor first, which then would spread the inflation across the entire economy as they made individual purchase decisions.

Re: If you sell a house these days, the buyer might be a pension fund

#305

Post by MoosePirate » Wed, Jun 09, 2021, 4:43 PM UTC

brightball wrote: post #218

davidw wrote: post #125

Here's why investors buy up houses: they know your neighbors will do the dirty work of artificially constraining the housing supply, which makes it a good investment. Here's one who comes right out and explains this: > Meanwhile, local opposition to building is so commonplace and the approval process so cumbersome, time consuming, and expensive, even when a proposed project complies entirely with requirements, approv…

I just experienced something similar to this and it makes me wonder if much of this is just perception. We recently dealt with an out of state builder pushing to have a property that was zoned Neighborhood Commercial to be rezoned to something more flexible so that he could build 49 town homes with 49 parking spots on 5 acres of land. Everybody opposed the rezoning and fought to defeat it. The project would have been…

Yes, this is what NIMBY means. "I am ok with more housing, just not by me."

The specifics will vary in every case, but in every case it will be some argument on why THIS is not the right place to build more housing. For every possible value of this. Areas that don't have extremely local control over zoning do a better job of combatting this.

Re: If you sell a house these days, the buyer might be a pension fund

#306

Post by mercutio2 » Wed, Jun 09, 2021, 4:43 PM UTC

no-dr-onboard wrote: post #214

JKCalhoun wrote: post #194

Earlier quoted context omitted.

> My property taxes have increased 10% every year for the past several years How I know you don't live in California. You would love Prop 13 then that has capped the amount that property taxes can increase per year. Be careful though, your public schools and other services paid for by property taxes are going to suffer as the cash flow dries up....

Strange argument considering public schools (and in general _many_ public services) in CA are in terrible condition. Maybe I'm missing the point though.

Huh?

He’s making the argument that what you observe is a direct effect of Prop 13.

You may disagree, but it’s very much not a strange argument.

Prop 13 kneecapped the ability for municipalities to fund themselves in the way they traditionally do in the US, and public services got vastly worse.

Re: If you sell a house these days, the buyer might be a pension fund

#307

Post by kristopolous » Wed, Jun 09, 2021, 4:43 PM UTC

yabones wrote: post #102

Things went off the rails at the end... > Well, the banks are controlled by and in bed with the same cabal buying everything up. You think this will be corrected by market forces when it is a financial and political pincher movement pushed by the same cabal that stole the 2020 election & hid COVID Truth? You are fucked. https://twitter.com/APhilosophae/status/1402449561864577024 IMO, weakens the entire 'thread' and m…

Conspiracy theories are the new urban folklore.

They get disconnected from their origins, repackaged and repurposed like a durable material.

"Cabal" traditionally is a dog-whistle for the antisemitism conspiracy about why the Nazis claim they lost WW1.

It's been durable. Lots of uses of cabal these days shed those nazi roots and repurpose it to just mean "those corrupted by wealth and power". It's still really, extremely close to a very dangerous form of anti-semitism, but it's possible for one to exist without the other.

It's really fascinating how transitive these lies are and how they can be composited like higher level programming objects to form essentially different flavors of insanity. I wish humans weren't like this but eh, don't know how to change it

Re: If you sell a house these days, the buyer might be a pension fund

#308

Post by duxup » Wed, Jun 09, 2021, 4:43 PM UTC

lliamander wrote: post #262

duxup wrote: post #124

Earlier quoted context omitted.

Yeah what the heck happened there. "same cabal" Everything is a grand singular conspiracy to someone these days. Happens on HN too, every few bad news type post has some accusation that whatever outcome was because of a conspiracy.

Well, to be fair, there was a self-decribed cabal of sorts that worked to change election laws, curtail protests, and pressure social media companies leading up to the 2020 election. Whether what they did was in any way illicit or undermines the integrity of U.S. elections is of course up for debate, but the fact that a secret coordinated effort of powerful people "conspired" (if you will) to influence the outcome of…

That's not fair, that's just some unrelated thing...

Re: If you sell a house these days, the buyer might be a pension fund

#309

Post by wubawam » Wed, Jun 09, 2021, 4:43 PM UTC

brightball wrote: post #218

davidw wrote: post #125

Here's why investors buy up houses: they know your neighbors will do the dirty work of artificially constraining the housing supply, which makes it a good investment. Here's one who comes right out and explains this: > Meanwhile, local opposition to building is so commonplace and the approval process so cumbersome, time consuming, and expensive, even when a proposed project complies entirely with requirements, approv…

I just experienced something similar to this and it makes me wonder if much of this is just perception. We recently dealt with an out of state builder pushing to have a property that was zoned Neighborhood Commercial to be rezoned to something more flexible so that he could build 49 town homes with 49 parking spots on 5 acres of land. Everybody opposed the rezoning and fought to defeat it. The project would have been…

Yes lol.

Re: If you sell a house these days, the buyer might be a pension fund

#310

Post by mullen » Wed, Jun 09, 2021, 4:44 PM UTC

president wrote: post #150

nathan11 wrote: post #29

Probably worth pointing out this twitter account is promoting the idea that the 2020 election was stolen. To me that casts suspicion on their other assertions.

Dismissing someone because they hold a viewpoint you disagree with is childish and dangerous to our society. By that logic we should all be dismissing CNN reporting because they were peddling Covington kids and russian collusion among other things proven to be false. We should all be striving to take in all sources of information and use our best judgement to judge and interpret them.

> Russian Collusion

There is really strong evidence that there is Russian Collusion. The Muller report is full of actions by the Trump election team that point to them working in conjunction with Russia and Russian Agents.