Comments by "Setta" (@settame1) on "Krystal & Saagar's Insane Housing Conspiracy" video.

  1.  @jays903  there are warehouses full of lumber but they have just jacked up the value of that lumber because we aren't importing as much lumber in. They're artificially creating a lumber crisis.
    2
  2.  @jays903  this is in EU as well.
    2
  3. Ours in KY said the exact same thing. We were hoping for less than 450k (could afford more but that was the hope). She picked out a bunch at 350k because by the time we were competitive it would be about 450k.
    2
  4. They are just holding the houses. We saw a few dozen houses that just sat empty once they're bought up.
    1
  5. They're not doing it for renters. They're doing it as a hedge against inflation.
    1
  6. We just bought a house in a southern smallish town that is growing but is not the hottest market out there. We had 15 houses we were looking at on Friday, all but 2 sold within 24 hours of being put on the market for 25%+ over asking, in cash, no appraisal no inspection, no contingencies, no tour. Another house we put a bid on 10% over asking ended up being sold for 30% over cash, no inspection, no tour, no nothing, and they weren't even bidding against anyone (except our 10% over offer). There is no bidding war that goes on, they just put in more than you can ever put in there, and some sellers are holding out until someone comes in with a better order, making buyers put in 24 hour "take it or leave it" clauses. Our agent specifically told us the only houses that are selling to "real people" are for sale by owner. Yes there are a lot of Californians going and buying up houses because they have a lot of money, all of them will sell in a year when salaries get readjusted for cost of living. Most of the Californiana though were going last year and that's starting to slow down. Building is also way up because of inflated building costs due to new tariffs etc, a house we were going to build went up 100k in 6 months. Sorry...but if you were looking in this housing market everything they said makes 100% sense.
    1
  7. They are buying to make a rental class...they're stashing money away. If they own all the houses in a market then when they sell in 5 years when the market recovers the house will be appraised at similar prices to each other.
    1
  8. It's a hedge against inflation not for renters. They're just stashing money and leaving the houses vacant.
    1