Oh, yea.
Ppl became more familiar with them during the Covid era because they were snapping up all the real estate.
One of the reasons why if you were smart you took advantage of the market and purchased during the pandemic/“bandemic”
Firms, especially Blackrock, were purchasing residential at an alarming clip. Why? Because once housing is unavailable, ppl have to just pay whatever the market rate is for rent. Endless upside for firms.
People were complaining about landlords, etc, but what happens when the house/townhome/neighborhood properties you’re renting are investment properties for firms? There’s no one to run to or complain to, and they won’t be forced to be as lenient with tenants who are behind on rent, evictions, etc.
People were making offers well above asking and still not winning because it was Blackrock, etc paying way above asking to secure the purchases. They were pricing regular ppl out of the market years ago.
This is why ppl can’t listen to all these online gurus. Everyone said “wait until the next crash to purchase”, drowning out the voices of a few who said “ay- if you have the $ do it NOW”. Now it’s 10x harder than it was 2020/2021. Those mortgage rates ain’t coming back ANYtime soon, and no one trying trying to sell and buy a new spot with these rates if you were able to refinance and get into a 2./3.something fixed rate.
There were threads about this right on The Coli when I was lurking. Sheeeeeit I refinanced before it was too late too
Coli be having the scoop lol