alt Hacker News> There are plenty of whales, once those 5% disappeared, price should slowly come down
But by how much? ~3-4% of housing has to be sold, some amount of it will still be bought for renting (as many people still want to rent). Surely this can’t have a very big effect on house price
It could be substantial just by increasing the number of occupied dwelling units - if institutional investors are willing to let housing sit empty for 6 months or a year (because it doesn't hit them where it hurts) and the average vacancy rate in a city is hovering around 10%, dropping that down to 5% will really shake up prices.