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ChainmailleAddict t1_itqauh1 wrote

Reply to comment by big_whistler in Wages up in CO since pay transparency passed. Anything on the horizon in Mass? by bostexa

Honest question, will large businesses like Zillow and BlackRock buying up houses make making new houses worthless? It sounds like kicking the can down the alley. We absolutely have enough houses, they're just being bought up by rich greedy bastards.

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wise_garden_hermit t1_itqsl2d wrote

Vacancy rates are very low. There just aren't that many unoccupied homes. Even these companies buying property are largely renting them out. They aren't sitting empty.

The ability of these companies to make money is premised on a low supply of housing in high-demand locations. If housing supply increases, both market rents and housing values should fall or at least track below inflation, leading to these companies putting their homes on the market.

There aren't enough houses. Boston has been adding high-paying jobs like crazy, and those people need to live somewhere.

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