Unless Blackrock is buying and leaving the houses empty it doesn't significantly affect the price of housing stock, because rentals do offset a huge portion of the purchase market.
Actually, it does. Value is based on perception in the market - empty or not. This is how the bubble works. Sure, leave a unit empty and it'll effect supply and thus price. But no one is knocking on doors checking occupancy. What is looked at is recent sales in the area.
The seller prices off that. The buyer gleams value the same way. Housing prices are subjective. Very much so. And this is why sale prices are so effective.
Comments
Unless Blackrock is buying and leaving the houses empty it doesn't significantly affect the price of housing stock, because rentals do offset a huge portion of the purchase market.
Actually, it does. Value is based on perception in the market - empty or not. This is how the bubble works. Sure, leave a unit empty and it'll effect supply and thus price. But no one is knocking on doors checking occupancy. What is looked at is recent sales in the area.
The seller prices off that. The buyer gleams value the same way. Housing prices are subjective. Very much so. And this is why sale prices are so effective.