Contact Us Today (813)-282-9330

Consumer Blog

Housing Inventory Rebound?

Posted by Sami Thalji | Aug 25, 2021 | 0 Comments

The number of homes for sale is slightly increasing, which is good news for buyers priced out of markets. The number of homes for sale in the US market rose 7.3% in July which means prices are starting to pull back slightly creating more opportunities for buyers. However, the current inventory is still at historic lows in the affordable housing markets, which is traditionally the market for first time home buyers. Over the last 18 months we have seen hedge funds and large investment companies dominate purchases in this area. Investment funds like Blackrock, Vanguard, Zillow and Opendoor have been buying so many homes in this part of the market that it is driving traditional first time home buyers out of the market and transforming traditional buyers into renters. I have said many times before the hedge funds and investment companies should be limited in their home purchase by law. Pushing families and individual buyers of the market is bad for the economy and bad for the long term economic well being of the country. Transforming society into a "renters' class" will only worsen the income disparities that already exist and rob everyday consumers of their best opportunity to build wealth while working a 9-5 job. So the good news is that people are waking up and realizing it's time to sell when they can't afford their mortgage, but the bad news is the market is being transformed by the worst companies imaginable and the long term impact will not be good for everyday consumers. 

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Comments have been disabled.

FLORIDA CONSUMER LAWYERS

Our law firm only represents consumers and we have built our entire practice around that fact.

Menu