General Discussion

MineralMan

(150,939 posts)

34. Where I am, existing

Tue May 22, 2012, 12:38 PM

May 2012

housing inventories are going down quickly now, and median prices are rising. Time on market is getting shorter, too. And this is happening across all price ranges. I just did a bunch of research for a web site I'm writing for a real estate broker here in Minnesota. However, I'm also seeing a lot of sales to individuals who are moving into houses. The house next door to me, for example, finally sold after three years on the market, to a young woman and her son.

There seems to be something of a recovery going on here in the Twin Cities. Some of it may be due to investment buyers, but there are also a bunch of sales to individual families. They'll be moving as the school year ends.

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The 1 Percent Is Buying Up All Of The Low End Real Estate [View all] xchrom May 2012 OP

Actually, I think that today's private health insurance companies - Old and In the Way May 2012 #1

I bet more houses are lost through Medicaid obligations. dkf May 2012 #3

Private equity also means Pension Funds, Endowments and union money. dkf May 2012 #2

Yes, those poor widows and orphans that rely on these private equity funds for their income... Scuba May 2012 #7

No those semi comfortable union retirees and their spouses. dkf May 2012 #10

Instead of big banks and mortgages treestar May 2012 #4

When everyone is employed, what do you do with all that job-creatin' cash? n/t lumberjack_jeff May 2012 #5

They are buying up all the rentals, and now they are starting to jack up kestrel91316 May 2012 #6

Rent is up in many places because fewer now qualify for home loans KurtNYC May 2012 #13

+1. Rates are low, but qualifying is really, really difficult. nt Robb May 2012 #18

I'm hearing about sales that consist only of taking over remaining payments. Gregorian May 2012 #20

this is wilard romney's plan leftyohiolib May 2012 #8

Folks this should NOT be surprising............... socialist_n_TN May 2012 #9

Affordability should have brought more into the market but everyone is gun shy. dkf May 2012 #11

The smaller investors don't have the money to come into the market.......... socialist_n_TN May 2012 #12

The shift from federal income taxes to local property taxes is what keeps me out. ieoeja May 2012 #14

OMG!! guardian May 2012 #23

you don't live in NY then belcffub May 2012 #29

In NJ, we're right up there with you. badtoworse May 2012 #31

Property taxes are on assess values, not actual prices. ieoeja May 2012 #37

Where do you live?! SunSeeker May 2012 #26

The house was selling for only $5,000 in Lindenhurst, IL. ieoeja May 2012 #36

wait... if you paid off your mortgage belcffub May 2012 #30

He was going to buy it for his buddy who is living in his basement. dkf May 2012 #32

ok... now that I re-read it... belcffub May 2012 #35

Not that nice. I just want him out of my damn basement! ieoeja May 2012 #38

Props that you even considered it. dkf May 2012 #40

Funny you should mention the upstairs.... ieoeja May 2012 #39

+1 bemildred May 2012 #15

Absolutely. And I've been watching this first hand. Gregorian May 2012 #16

The big money is *always* bargain hunting. Robb May 2012 #17

They're professional investors; that's what they're paid to do. badtoworse May 2012 #19

Nope. I had lunch with a venture capital guy a month or so ago Robb May 2012 #22

That actually sounds like a risky play to me badtoworse May 2012 #25

I've seen some new start-ups around here (SoCal) advertising their services as... Tikki May 2012 #21

So how long will it be before they start setting up fiefdoms? Cleita May 2012 #24

They'll never make a lot of profit renting out Baltic and Mediterranean slackmaster May 2012 #27

This is always the "next step" in a financial collapse SoCalDem May 2012 #28

A robber baron land grab creating a nation of rent slaves. Fire Walk With Me May 2012 #33

Where I am, existing MineralMan May 2012 #34