Or the landlord might just want to spite the tenant, or he might want to sell to a “new” buyer who turns out to be business partner/cohort/shell LLC/etc.
I mean, my wife and I didn’t sell to the two highest bidders on our first house because the fuckers were obviously going to rent it out.
One was a bid entered by a piece of software often used by flippers and rental companies (had branding at the bottom of the pages etc) and the other was a cash in hand bid with an overt offer of more under the table, which is fairly illegal where we live.
We selected third place, someone who had messy handwriting, obviously has been written by two different people, and ended the bid with “777” which was cute and showed us not only were they human, they really wanted the place. And no wonder, with offers like the first two likely happening on nearly every sale in the area.
Are people really accepting less money so they don’t sell to brown people? Like why would you care? You’re selling the property. You don’t have to deal with the new owners if you happen to be racist.
Granted, this article was from all the way back in… last week.
“An African-American woman’s quest to buy a pricey condo near the Virginia Beach Oceanfront – impeded by the white homeowner’s refusal because of her race – is just the latest example.”
“…landlords frequently use subtle methods or mask the real reasons why they don’t want people to move in.”
Comparing across the nation doesn’t really matter in things like real estate where prices, inflow vs outflow of people etc vary wildly, particularly when talking about the actual impact on the average person within the locality.
“Cherry picked by source to increase clicks” what sort of landlord boot licking is this lmao. Amherst Holdings (owns almost 40,000 homes nationally), Pretium Partners (owns around 80,000 homes nationally), and Invitation Homes (also around 80,000 nationally) own through subsidiaries 11% of all single family homes across metro Atlanta for rental purposes.
This isn’t opinion or spin, it is fact.
Most of their ownership (9.2% of that 11%) is from houses in the lower half of median home value, effectively ripping those inventories out of the market for first time home buyers and inflating the price of those tiers of homes for first time home buyers.
Maybe you’re confused about what “Metro Atlanta” means. It’s not just the City of Atlanta. Metro Atlanta is spread across 5 counties, from the heart of downtown to some real yeehaw rural areas of the outer counties.
That’s a bad-faith comparison and shows you are unserious about the very real issue some localities face with investment firms holding “cheap” single family homes as indefinite rental income, or just butthurt my data disproved your application of a BROAD GENERALIZATION to a specific region. Likely the latter.
SIKE! sold houses are only bought by corporate holding companies, now you’ve lost even more rights!
In France there is a law that forces you to sell to your tenant if he has the highest bid
Why would you need a law to make someone sell to the highest bidder?
Because sometimes there’s a tie
Or the landlord might just want to spite the tenant, or he might want to sell to a “new” buyer who turns out to be business partner/cohort/shell LLC/etc.
Wouldn’t you sell to the highest bidder anyway?
I mean, my wife and I didn’t sell to the two highest bidders on our first house because the fuckers were obviously going to rent it out.
One was a bid entered by a piece of software often used by flippers and rental companies (had branding at the bottom of the pages etc) and the other was a cash in hand bid with an overt offer of more under the table, which is fairly illegal where we live.
We selected third place, someone who had messy handwriting, obviously has been written by two different people, and ended the bid with “777” which was cute and showed us not only were they human, they really wanted the place. And no wonder, with offers like the first two likely happening on nearly every sale in the area.
I did that myself with a home. I ignored the high bid in favor of selling at a steep discount to a young family.
Wouldn’t most people sell to the highest bid anyway?
Yes but we had our fair share of assholes
Never any history of racial segregation in the housing market, nope. No Sir. Never.
Are people really accepting less money so they don’t sell to brown people? Like why would you care? You’re selling the property. You don’t have to deal with the new owners if you happen to be racist.
Granted, this article was from all the way back in… last week.
“An African-American woman’s quest to buy a pricey condo near the Virginia Beach Oceanfront – impeded by the white homeowner’s refusal because of her race – is just the latest example.”
“…landlords frequently use subtle methods or mask the real reasons why they don’t want people to move in.”
Virginia Mercury News
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Idk, something like 12% of all metro Atlanta area homes are leased out by about 3 rental property companies. That’s a huge amount.
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Comparing across the nation doesn’t really matter in things like real estate where prices, inflow vs outflow of people etc vary wildly, particularly when talking about the actual impact on the average person within the locality.
“Cherry picked by source to increase clicks” what sort of landlord boot licking is this lmao. Amherst Holdings (owns almost 40,000 homes nationally), Pretium Partners (owns around 80,000 homes nationally), and Invitation Homes (also around 80,000 nationally) own through subsidiaries 11% of all single family homes across metro Atlanta for rental purposes.
This isn’t opinion or spin, it is fact.
Most of their ownership (9.2% of that 11%) is from houses in the lower half of median home value, effectively ripping those inventories out of the market for first time home buyers and inflating the price of those tiers of homes for first time home buyers.
Maybe you’re confused about what “Metro Atlanta” means. It’s not just the City of Atlanta. Metro Atlanta is spread across 5 counties, from the heart of downtown to some real yeehaw rural areas of the outer counties.
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0.2% nationally != 0.2% locally.
https://news.gsu.edu/2024/02/26/researchers-find-three-companies-own-more-than-19000-rental-houses-in-metro-atlanta/
Link to the research: https://www.tandfonline.com/doi/abs/10.1080/24694452.2023.2278690
Read it for yourself.
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That’s a bad-faith comparison and shows you are unserious about the very real issue some localities face with investment firms holding “cheap” single family homes as indefinite rental income, or just butthurt my data disproved your application of a BROAD GENERALIZATION to a specific region. Likely the latter.