Author Topic: Observations from the front lines of the Irvine housing market…  (Read 249366 times)

Offline USCTrojanCPA

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If the Fed and Congress were actually serious about affordable housing (spoiler alert... they are not.) both entities would work quickly to revise the tax system make it unsustainable for Hedgies to buy up everything they can. They could start by hypertax large LLC SFR owners rental income which compels through financial methods the eventual liquidation by mass unit owners of their housing stock. Yes, overall prices would drop a bit in some areas. Are hedgies buying Irvine properties to lease long term?Don't know, but would really love to see the stats. Certainly other SoCal Counties would experience price drops given how many homes are in the portfolios of hedge funds.

Ask yourself this: would you rather see 1/2 the block you live on as Blackstone owned rental properties, or owner occupied homes for 1st and 2nd time buyers?  Which pathway is better for the long term benefit of society? Concentrated ownership or mass ownership? 

I can ask my title rep to run a report to see all Irvine homes purchased by LLCs and Corps in the past 2 years.  I'm sure I'll see Redfin, Zillow, Offerpad, and Opendoor but it'd be curious if I see other corporate entities.
Martin Mania, CPA
AgencyOne
CA DRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

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