this post was submitted on 26 Nov 2024
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New home sales plummet 17% to 2-year low as rising mortgage rates sideline buyers (nypost.com)
submitted 15 hours ago by realcaseyrollins@thelemmy.club to c/business@lemmy.world
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[โ€“] DeadWorldWalking@lemmy.world 3 points 13 hours ago* (last edited 13 hours ago) (1 children)

Until we stop allowing corporations to buy and control nee home sales homes will never become more affordable.

We've had years of propaganda saying that Blackrock and Zillow buying every home they can afford has no effect on the market, but it's obviously having an effect. As well as their price fixing algorithms like the one made by RealPage who is being sued by the FTC/DOJ

[โ€“] sugar_in_your_tea@sh.itjust.works 2 points 11 hours ago

Nah, the main problem is still supply of new construction. We've been behind pretty much ever since Covid, and demand has only increased. That has much stronger explanatory power than whatever BlackRock is doing, especially since treasuries are interesting again.