I guess home ownership will soon be only an American pipe dream.
2008 Ranger 178VX
150 Yamaha V-max
GO Fins!!!
The taxes and insurance on these inflated prices will be their undoing.
I hope they lose their asses. They are pricing lots of home buyers out of the market.
This.Originally Posted by Rip Bass
Goldman Sachs lose their ass? They'll get bailed out if they do- watch.
2014 920/SHO
And we will bite itGoldman Sachs lose their ass? They'll get bailed out if they do- watch.
And they just keep coming.
Florida…. The sub tropical NYC…. The entire state, just about now. Im pretty much the only one in my family who doesnt live there, nor have an interest in living there either.
Yes, Goldman Sachs will not lose their asses.
Red Sox in 6!
they were already rent houses...
"A pair of Goldman Sachs-backed ventures gobbled up an entire rental home community in Florida last month for a cool $45 million"
"Being a winner is more than getting a first place trophy, it is acting like the effort was an honor and the trophy is just a decoration."
"A successful man is one who can lay a firm foundation with the bricks others have thrown at him"
They will ask 400-500K for them when they are actually worth 180-250...plus interest rates will most likely land around 7-10% for most...good luck selling them.
Hard for me to wrap my head around 450 to 500,000 rental home. Owner or renter.
$45M / 87 units = $517K per unit. Add in property taxes, insurance, common area and clubhouse maintenance, etc... What will the rent be? $4K per month. Anyone that can afford $4K per month rent, should buy.
Goldman Sachs will not lose. They either profit from the deal, or write off the losses against other gains to pay less taxes. In reality they will probably profit off the realestate and then use some ridiculous realestate tax laws to avoid paying taxes. It will be a win win for them.
Thanos was the hero
Realtor I know has 3 houses pending in same neighborhood for just under 1mil. each. All retired moving from Arizona. And they just keep coming.
Interesting.
I find most are "Either / Or".
Meaning they are the type that either like Arizona, or Florida.
Rarely see someone live both places.
Huntin' Ducks, Chasin' Pheasant, Catching Fish
They are just trying to catch up with Blackstone. It is a pretty good deal for the developer. They can do one cash closing with one buyer on a whole section of a neighborhood and be done with it. Florida is the new New York City. Everyone will be living in apartments just like they do there...unless the bottom falls out.
thats the plan
The median price of an American house has increased by 28 percent over the last two years, as pandemic-driven demand and long-term demographic changes send buyers into crazed bidding wars.
Might the fact that corporate investors snapped up 15 percent of U.S. homes for sale in the first quarter of this year have something to do with it? The Wall Street Journal reported in April that an investment firm won a bidding war to purchase an entire neighborhood worth of single-family homes in Conroe, Texas—part of a cycle of stories drumming up panic over Wall Street’s increasing stake in residential real estate.
Where are all the pro-capitalist, corporation loving people we have on here now? Just another nail in the coffin of the American dream.
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