alt Hacker NewsThe vast majority of home purchases aren't from speculators or institutional investors.
Institutional investors only own about 0.5% of homes. If they're forced to stop buying, nothing will really change in a noticeable way. At best, small landlords and investors will scoop attractive properties up for slightly less.
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ntonozzi • last Wednesday at 8:19 PM
Maybe the best part of this legislation will be that people will realize it's not institutional investors that are driving up home prices. No, that's far too optimistic.
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Octoth0rpe • last Wednesday at 8:17 PM
> Institutional investors only own about 0.5% of homes
Where they buy those homes matters though. In areas with lots of jobs/growth (often the areas experiencing the most housing price pain), that number is likely much higher.
Is that 0.5% a uniform distribution across the United States or is it concentrated in a handful of hot markets? I suspect the latter and have to imagine some distortion must be occurring in those regions.