Americans need to earn about 70% more today than six years ago to comfortably afford a median-priced home, per Realtor com.
— unusual_whales (@unusual_whales) May 12, 2025
Why can't young people afford houses?
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Redbrickbear said:Americans need to earn about 70% more today than six years ago to comfortably afford a median-priced home, per Realtor com.
— unusual_whales (@unusual_whales) May 12, 2025
That is insane. Something has to give.
The New York Times just ran a piece arguing that the only way to solve America’s housing crisis is to embrace sprawl: build outward, fast, and without hesitation.
— Charles Marohn (@clmarohn) May 12, 2025
This is the logical conclusion of the extreme YIMBY take:
“Just build. Anywhere. Everywhere. As fast as possible.” pic.twitter.com/J1ZNPKwdyy
This isn’t a bug. It’s the system working as designed.
— Charles Marohn (@clmarohn) May 12, 2025
Developers get the cash.
Local governments get the bill.
Taxpayers get left maintaining infrastructure that costs more than it returns. Inevitable decline. pic.twitter.com/xhLOUQkORv
Sprawl doesn’t do that. It’s financially unsustainable.
— Charles Marohn (@clmarohn) May 12, 2025
It locks in low productivity and high maintenance costs.
It burns bright, then fades—leaving cities stuck with liabilities they can’t afford. (h/t @UrbanThree) pic.twitter.com/i3wXdSKg28
I can tell you that in 30 mile radius of where I'm looking that since May 1st there have been fewer than 10 new listings. The prices have dropped on all but one of the homes we are looking at. Tough market for buyers and sellers. There just isn't much out there.
Lots of the ones on the market were purchased 10+ years ago and in rough condition but people want double or more what they paid and that's just not happening right now.
Lots of the ones on the market were purchased 10+ years ago and in rough condition but people want double or more what they paid and that's just not happening right now.
Interesting. Around here the inventory levels have doubled since 2021-2022 and they are halfway to 2008 levels. Days on market are approaching 100 days, and you are starting to see price cuts as well as large numbers of former airbnb properties being listed. I think a 30% or so correction is inevitable with the fed holding the line on interest rates. Going back to 2020 levels perhaps.
Realitybites said:
Interesting. Around here the inventory levels have doubled since 2021-2022 and they are halfway to 2008 levels. Days on market are approaching 100 days, and you are starting to see price cuts as well as large numbers of former airbnb properties being listed. I think a 30% or so correction is inevitable with the fed holding the line on interest rates. Going back to 2020 levels perhaps.
Starting to see the airbnbs up here as well. Problem for those folks is that a lot of them are the top of what the market will bear and the work that was done was, typically, really poor. I looked at 3 last week that looked ok but the work was beyond terrible.
Boomerism linked to dementia pic.twitter.com/Tnc3bo5UqI
— Financial Physics (@FinancialPhys) May 13, 2025
Top places (min. 10k) by % of housing units built after 2020.
— Siddharth Khurana (@SidKhurana3607) May 15, 2025
A lot of Texas exurbs on the list pic.twitter.com/9YruLz9i8q
https://www.ajc.com/news/atlanta-news/data-investors-now-own-30-of-metro-atlantas-single-family-rental-homes/CNP7ATXIBJDVDMDQ6RRSGVUGZI/
Data: Investors now own 30% of metro Atlanta's single-family rental homes
Matt Reynolds
U.S. Sen. Jon Ossoff unveiled research Wednesday on the impact of out-of-state companies buying up Georgia homes for rental properties, as he continues to focus attention on the impact of institutional investors as part of a federal probe.
During a Zoom news conference, Ossoff welcomed housing expert Taylor Shelton, an associate professor in the Department of Geosciences at Georgia State University, to talk about the academic's latest findings and how large firms are altering the housing landscape in the state.
Ossoff cited The Atlanta Journal-Constitution's investigative series American Dream for Rent when he launched the investigation last week, as well as a Government Accountability Office report from 2024.
Ossoff said the GAO report showed 25% of single-family rental homes in metro Atlanta were owned by out-of-state companies. But Shelton's latest research showed that in metro Atlanta alone, institutional investors had gobbled up 70,000 properties, accounting for 30% of all single-family rental properties in the region one-third of such properties.
That is close to 10 times the national average and an "alarming" increase, the senator said.
Ossoff said last week that he would investigate corporate landlords and institutional investors who are buying up single-family homes in bulk. His probe is centered on four major players: Main Street Renewal, Tricon Residential, Progress Residential and Invitation Homes, with his office sending inquiries to each of the companies last week.
The senator hopes the probe will reveal more about the impact of the companies on home and rental prices, and what he described as poorer outcomes for people who live in those properties.
Ossoff said that institutional investment was pushing homeownership out of reach and raising the price of rents.
"The very same families who are priced out of the housing market because it is so dominated by these large out-of-state investors are then forced to rent from these out-of-state investors," Ossoff said.
He said the data suggested that the problem was "more acute and more severe in Georgia than in virtually any other state."
Though the investigation was at an early stage, Ossoff said that so far his staff had interviewed more than 160 people, including housing policy experts, local officials, real estate agents, attorneys, renters and aspiring homebuyers.
"Georgians consistently report being unable to find a home that they can afford and that they've been squeezed out of the housing market due to rising home prices," Ossoff said.
Shelton said his research has shown that Invitation Homes, Main Street Renewal and Progress Residential used 191 different owner names under 74 unique addresses.
"We found that there are entire neighborhoods where these companies own most, if not all, of the single-family rental homes," Shelton said.
Based on his analysis of the latest data, Shelton said there are more than 300 census tracts across the metro Atlanta region where companies owned up to 50% of single-family rental homes.
"This is especially notable in places like majority-Black Henry County, where large companies own 64% of all of the single-family rental properties. And also in places like majority-white Paulding County, where they own 78% of all single-family rentals," Shelton said.
Based on his research, Shelton said that institutional investors were able to tilt the market in their favor by outbidding Georgian homebuyers, offering all cash for homes, waiving contingencies, and paying above market rates.
He added that the companies were using algorithms to snatch up homes as soon as they hit the market, driving up home prices and property taxes. He said corporate ownership could lead to junk fees, deferred maintenance, and aggressive eviction practices.
The AJC's American Dream For Rent investigation made nearly identical findings in 2023.
"These companies have played a significant role in driving the decline in homeownership rates across metro Atlanta, particularly for Black families. As a result, families are forced into renting, often from these very same companies that have crowded them out of the homebuying market," Shelton said.
He called for caps on investor ownership and reforms that make it easier to identify who owns single-family rentals.
"It shouldn't require a Ph.D. to know who your landlord is," Shelton said.
Shelton told the AJC that his latest research and analysis was unpublished and the 30% finding relied on January 2024 property ownership data.
Ossoff said that he had launched the investigation to "bring transparency and accountability and to lower home prices for my constituents in Georgia." He said that he hoped the investigation would help him gain momentum for policy changes, including federal legislation.
"The purpose of this investigation is to inform the public and policymakers about the scope and nature of this crisis, so that whether at the level of the county officials, the state officials, or the United States Congress, we can make appropriate laws or pass appropriate ordinances to lower home prices for Georgia families," he said.
The National Rental Home Council, an industry group, pushed back against Ossoff's investigation and said zoning rules and regulations and deficit new home construction was the problem, with providers of single-family homes stepping in to provide quality housing and bridge the gap.
In response, Ossoff said institutional investors had created demand for single-family homes by converting homes to rentals, driving up prices and diminishing supply.
"When you have an increase in demand simultaneous with a decrease in supply, you have an increase in prices. I think that's pretty straightforward," he said.
Data: Investors now own 30% of metro Atlanta's single-family rental homes
Matt Reynolds
U.S. Sen. Jon Ossoff unveiled research Wednesday on the impact of out-of-state companies buying up Georgia homes for rental properties, as he continues to focus attention on the impact of institutional investors as part of a federal probe.
During a Zoom news conference, Ossoff welcomed housing expert Taylor Shelton, an associate professor in the Department of Geosciences at Georgia State University, to talk about the academic's latest findings and how large firms are altering the housing landscape in the state.
Ossoff cited The Atlanta Journal-Constitution's investigative series American Dream for Rent when he launched the investigation last week, as well as a Government Accountability Office report from 2024.
Ossoff said the GAO report showed 25% of single-family rental homes in metro Atlanta were owned by out-of-state companies. But Shelton's latest research showed that in metro Atlanta alone, institutional investors had gobbled up 70,000 properties, accounting for 30% of all single-family rental properties in the region one-third of such properties.
That is close to 10 times the national average and an "alarming" increase, the senator said.
Ossoff said last week that he would investigate corporate landlords and institutional investors who are buying up single-family homes in bulk. His probe is centered on four major players: Main Street Renewal, Tricon Residential, Progress Residential and Invitation Homes, with his office sending inquiries to each of the companies last week.
The senator hopes the probe will reveal more about the impact of the companies on home and rental prices, and what he described as poorer outcomes for people who live in those properties.
Ossoff said that institutional investment was pushing homeownership out of reach and raising the price of rents.
"The very same families who are priced out of the housing market because it is so dominated by these large out-of-state investors are then forced to rent from these out-of-state investors," Ossoff said.
He said the data suggested that the problem was "more acute and more severe in Georgia than in virtually any other state."
Though the investigation was at an early stage, Ossoff said that so far his staff had interviewed more than 160 people, including housing policy experts, local officials, real estate agents, attorneys, renters and aspiring homebuyers.
"Georgians consistently report being unable to find a home that they can afford and that they've been squeezed out of the housing market due to rising home prices," Ossoff said.
Shelton said his research has shown that Invitation Homes, Main Street Renewal and Progress Residential used 191 different owner names under 74 unique addresses.
"We found that there are entire neighborhoods where these companies own most, if not all, of the single-family rental homes," Shelton said.
Based on his analysis of the latest data, Shelton said there are more than 300 census tracts across the metro Atlanta region where companies owned up to 50% of single-family rental homes.
"This is especially notable in places like majority-Black Henry County, where large companies own 64% of all of the single-family rental properties. And also in places like majority-white Paulding County, where they own 78% of all single-family rentals," Shelton said.
Based on his research, Shelton said that institutional investors were able to tilt the market in their favor by outbidding Georgian homebuyers, offering all cash for homes, waiving contingencies, and paying above market rates.
He added that the companies were using algorithms to snatch up homes as soon as they hit the market, driving up home prices and property taxes. He said corporate ownership could lead to junk fees, deferred maintenance, and aggressive eviction practices.
The AJC's American Dream For Rent investigation made nearly identical findings in 2023.
"These companies have played a significant role in driving the decline in homeownership rates across metro Atlanta, particularly for Black families. As a result, families are forced into renting, often from these very same companies that have crowded them out of the homebuying market," Shelton said.
He called for caps on investor ownership and reforms that make it easier to identify who owns single-family rentals.
"It shouldn't require a Ph.D. to know who your landlord is," Shelton said.
Shelton told the AJC that his latest research and analysis was unpublished and the 30% finding relied on January 2024 property ownership data.
Ossoff said that he had launched the investigation to "bring transparency and accountability and to lower home prices for my constituents in Georgia." He said that he hoped the investigation would help him gain momentum for policy changes, including federal legislation.
"The purpose of this investigation is to inform the public and policymakers about the scope and nature of this crisis, so that whether at the level of the county officials, the state officials, or the United States Congress, we can make appropriate laws or pass appropriate ordinances to lower home prices for Georgia families," he said.
The National Rental Home Council, an industry group, pushed back against Ossoff's investigation and said zoning rules and regulations and deficit new home construction was the problem, with providers of single-family homes stepping in to provide quality housing and bridge the gap.
In response, Ossoff said institutional investors had created demand for single-family homes by converting homes to rentals, driving up prices and diminishing supply.
"When you have an increase in demand simultaneous with a decrease in supply, you have an increase in prices. I think that's pretty straightforward," he said.
Oh, more new social housing in France that looks better than any market rate apartment building in North America. https://t.co/2xbufQ33RP
— Alicia, Courtyard Urbanist (@UrbanCourtyard) May 15, 2025
It took NINETEEN years to plan, approve, and build 1,100 housing units (550 affordable) on a parking lot in San Francisco, and apparently it's a hot take for thinking this should take quicker to happen. pic.twitter.com/2GQgFVWoWd
— Hayden (@the_transit_guy) May 15, 2025
Why this housing cycle is worse than 2008:
— Darth Powell (@VladTheInflator) May 17, 2025
1. More speculation (cause of the GFC)
2. More fraud (Occupancy Fraud)
3. WORSE affordability
4. MUCH worse demographics
5. Structural inflation
Reason its delayed:
1. Government keeping MILLIONS of homes off the market…
Look at all the NEW open houses today in one of the most desirable areas of Dallas
— Amy Nixon (@texasrunnerDFW) May 18, 2025
“Nobody will give up a 3% mortgage rate”
Nobody: pic.twitter.com/zPYsHSYvfX
I know less about real estate than probably any other sector.
But how does investors building rentals increase prices? Doesn't it just increase supply?
NOTE: I'm likely missing something very basic . . . .
But how does investors building rentals increase prices? Doesn't it just increase supply?
NOTE: I'm likely missing something very basic . . . .
30-Year Mortgage Rate hit 7.4% this week, near its highest level this century 🚨 pic.twitter.com/Fr9YiEuhBF
— Barchart (@Barchart) May 18, 2025
Every day it looks more and more like we created generational winners and losers based on whether you owned a home before 2020. Dumb. Broken.
— BuccoCapital Bloke (@buccocapital) May 18, 2025
Retiring baby boomers have been handed a 15 year bull market, +50% in housing prices this decade and now pretty juicy bond yields
— Ben Carlson (@awealthofcs) May 19, 2025
They never lose
Ever https://t.co/31zg5rR5JQ
Losing sucks. GO BOOMERS!!!!!
"Many people die at 25, but we don't bury them until they are 75." -- Benjamin Franklin
RD2WINAGNBEAR86 said:
Losing sucks. GO BOOMERS!!!!!
I'm just not sure why everyone is so mad at them. There's no way to know if the same thing won't happen to millennials. There's some dumb luck of timing but most boomers also made good financial decisions because that's what they were taught.
Not real sure I understand the generational resentment either. This Boomer just played by the rules and navigated the financial conditions in place at the time. It is my opinion that some people in some of the newer generations feel like they are entitled and tend to blame others for their problems.nein51 said:RD2WINAGNBEAR86 said:
Losing sucks. GO BOOMERS!!!!!
I'm just not sure why everyone is so mad at them. There's no way to know if the same thing won't happen to millennials. There's some dumb luck of timing but most boomers also made good financial decisions because that's what they were taught.
The way I see it, my Generation X wife, Millennial daughter, and Generation Z son will all benefit from the fruits of my labor when I'm gone.
"Many people die at 25, but we don't bury them until they are 75." -- Benjamin Franklin
RD2WINAGNBEAR86 said:Not real sure I understand the generational resentment either. This Boomer just played by the rules and navigated the financial conditions in place at the time. It is my opinion that some people in some of the newer generations feel like they are entitled and tend to blame others for their problems.nein51 said:RD2WINAGNBEAR86 said:
Losing sucks. GO BOOMERS!!!!!
I'm just not sure why everyone is so mad at them. There's no way to know if the same thing won't happen to millennials. There's some dumb luck of timing but most boomers also made good financial decisions because that's what they were taught.
The way I see it, my Generation X wife, Millennial daughter, and Generation Z son will all benefit from the fruits of my labor when I'm gone.
My kid is about to turn 18. He has more money in the bank than I did when I was 30. You don't get to blame someone else grandparents for your poor decisions or their good luck.
The beauty of this country is the ability to go "I want that and I'm going to make it happen".
If that makes sense.
nein51 said:RD2WINAGNBEAR86 said:Not real sure I understand the generational resentment either. This Boomer just played by the rules and navigated the financial conditions in place at the time. It is my opinion that some people in some of the newer generations feel like they are entitled and tend to blame others for their problems.nein51 said:RD2WINAGNBEAR86 said:
Losing sucks. GO BOOMERS!!!!!
I'm just not sure why everyone is so mad at them. There's no way to know if the same thing won't happen to millennials. There's some dumb luck of timing but most boomers also made good financial decisions because that's what they were taught.
The way I see it, my Generation X wife, Millennial daughter, and Generation Z son will all benefit from the fruits of my labor when I'm gone.
My kid is about to turn 18. He has more money in the bank than I did when I was 30. You don't get to blame someone else grandparents for your poor decisions or their good luck.
The beauty of this country is the ability to go "I want that and I'm going to make it happen".
If that makes sense.
I don't know
Inflating the money supply, importing in vast numbers of immigrants (wage suppression), making every job have "college education required" aka debt for education, and NIMBY zoning that prevents us actually building housing seems like a boomer war on the youth…..or at best very unfair circumstances to be young and trying to get married and start a family
TEXAS SENATE JUST PASSED HOUSING ON COMMERCIAL ZONED LAND STATEWIDE 🤯
— YIMBYLAND (@YIMBYLAND) May 20, 2025
This law legalizes development & preempts cities over 150k from imposing
- Density limits below 36 unit/acre
- Heigh restrictions below 45ft
- Setbacks over 25ft
- Parking reqs over 1/unit
THIS IS MASSIVE pic.twitter.com/8OmjFkoGoG
1) Florida, Colorado, DC, California, and Washington led the way in value declines from March to April.
— Nick Gerli (@nickgerli1) May 20, 2025
Next was Arizona, Louisiana, West Virginia, Texas, and Georgia.
3) The broadening of this housing decline suggests there's a shift occurring in the U.S. Housing Market right now.
— Nick Gerli (@nickgerli1) May 20, 2025
Inventory is starting to rise in most parts of the country, and sellers are beginning to wake up to the fact that prices are overvalued, and they need to cut.
Oh no! Not .55%
Average sale price was $512,000 in March so that's a price reduction of $2,816 lol
We have looked at 10-15 in the last few weeks. Anything priced near correct is still selling pretty quickly here.
The problem is the 8-13 that aren't priced correctly are WILDLY out of line. I think what's really happened is that a segment of sellers still thinks this is 5 years ago when they could put out a price and 40 people would bid on it. With rates at or near 7% that's just not happening much.
We are actually getting calls from sellers agents almost begging us to make offers. I had to tell one that I didn't want to insult her or her seller but we are so far apart there's just no hope we are going to reach a deal that's good for both of us.
Average sale price was $512,000 in March so that's a price reduction of $2,816 lol
We have looked at 10-15 in the last few weeks. Anything priced near correct is still selling pretty quickly here.
The problem is the 8-13 that aren't priced correctly are WILDLY out of line. I think what's really happened is that a segment of sellers still thinks this is 5 years ago when they could put out a price and 40 people would bid on it. With rates at or near 7% that's just not happening much.
We are actually getting calls from sellers agents almost begging us to make offers. I had to tell one that I didn't want to insult her or her seller but we are so far apart there's just no hope we are going to reach a deal that's good for both of us.
There never was a shortage of homes
— Amy Nixon (@texasrunnerDFW) May 22, 2025
There was a shortage of home SELLERS
Not anymore. https://t.co/4bq2EqhAPb
We sold out the great state of Texas
— Amy Nixon (@texasrunnerDFW) May 23, 2025
History may not look back kindly on this pic.twitter.com/e8IpeVLqUg
I'd be willing to bet that over the next year prices will continue to go down. If folks have some dry powder....probably time to buy.
The math on home prices always ends up at the same place.
— Darth Powell (@VladTheInflator) May 23, 2025
A median home price around $280,000
This would mean home prices nationally fall $130,000 pic.twitter.com/QoGqNVIz8L
The Income Needed to Buy a Home in 2025 pic.twitter.com/Xsj2GAkgFG
— Dividend Growth Investor (@DividendGrowth) May 25, 2025
That map will be heavily skewed by a few zip codes, in general. It costs considerably more to buy a home in the Northern Columbus suburbs than it does in the Eastern Cleveland suburbs. Maybe as much as double or more.
It costs WAY more in Manhattan than Syracuse. It's much more to live in Miami than Orlando. Waco is pretty reasonable, Park cities is not. Etc etc
To be useful that map probably needs far more granularity.
It costs WAY more in Manhattan than Syracuse. It's much more to live in Miami than Orlando. Waco is pretty reasonable, Park cities is not. Etc etc
To be useful that map probably needs far more granularity.
Rep. Ramon Romero of Fort Worth killed a legislative priority of Lt. Gov. Dan Patrick that would have made it easier to construct homes on smaller lots, which supporters say could have reduced the cost of those residences. https://t.co/B3Mr0Uu0aG
— Texas Tribune (@TexasTribune) May 26, 2025
We have the biggest gap ever between Home Prices and Mortgage Rates in 2025.
— Nick Gerli (@nickgerli1) May 27, 2025
Prices are 90% above the 130-year average.
Meanwhile, Mortgage Rates are right around the long-term average (6.7%).
The resulting gap makes one thing clear: home prices are too high and need to come… pic.twitter.com/Mm7mTWj7k7
In 1983, almost 80% of 30-year-olds were married and 50% already owned a home.
— Geiger Capital (@Geiger_Capital) May 27, 2025
Today, it’s 45% and 30%.
The collapse of healthy society and the middle class. A direct result of catastrophic policy and deficit spending. Our leaders borrowed prosperity from future generations. pic.twitter.com/xN9SGBnEh2
Excellent information.boognish_bear said:In 1983, almost 80% of 30-year-olds were married and 50% already owned a home.
— Geiger Capital (@Geiger_Capital) May 27, 2025
Today, it’s 45% and 30%.
The collapse of healthy society and the middle class. A direct result of catastrophic policy and deficit spending. Our leaders borrowed prosperity from future generations. pic.twitter.com/xN9SGBnEh2