alt Hacker NewsThis will absolutely help. It’s easy for these institutional players to downplay their involvement with select stats, to play PR defense, but platforms like Zillow work with institutional funds to sell them an information advantage that means they are at the end of the market that does the most upward impact on pricing.
People don’t have a natural feel for how little you need to alter flow to cause liquidity in a system to collapse.
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There are a few markets like Jacksonville and Atlanta where there is a lot of institutional ownership, but outside of those few cases impact of Blackrock et al on housing markets is effectively nil.
I also think this will help. There's no one size fits all solution. I hope it goes through.
Zero chance this moves housing costs an iota. Most of those wall street owned houses are rentals. If they are forced to sell them, that is a net zero change to housing supply, because they are taking a rental unit off the market.
Help who exactly?
This will be good for existing homeowners because it will increase home prices and increase rents.
It's bad for renters.