this post was submitted on 29 Nov 2024
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Maybe I missed it, but I think the OP is about how home "investors" are also scalpers. So the topic is home investors.
If them buying it denied other legitimate buyers with the same purchasing power from doing so, then yes. A home is too unique a purchase to be scalped though. It's like art in that the house is the only 1 one available exactly like it. The same exact house built on a corner or further in on the block have different values.
2 pairs of the exact same sneaker treated the same from the same production run are practically identical. Market manipulation through scalping is the only method to raise it's price at the time of market sale.
Tickets have a limited duration they hold ANY value so their prices can be manipulated through scalping too.
Houses just shouldn't be in the same conversation.
This take only makes sense when there's more houses than needed she people can be picky. That's not this world.
There are as many houses as people want but not all the the quality or location they want. Manufactured homes can be dropped on lots for a fraction of the price. People live in the central valley and commute so they can have a home for much less. The world will never have everything everyone wants the way they want it. Thats not this world.
This world also usually requires you physically reach your place of work, which is typically inside cities. Long commutes cost lots of money and waste a large chunk of your life. And hey, if those cheap houses were available in cities, people would buy them, but they're not. You can't blame buyers for a supply shortage.
I think you fundamentally don't understand the issue. The issue is land, not the houses built on top of them. Land is limited, and the investors scalp the land first and foremost. There's usually enough land to house people well, but scalpers prefer scarcity so they can profit. Also, a lot of land is used very stupidly, just look at American-style suburbs.
Dreamland.