How Investors DESTROYED the Housing Market

[@jasatx2024]

San Antonio is trending the same way as Austin, a lot of new apartments available, the local economy seems slowing down, jobs are scarce and wages low that is going to push rentals down. Investors will be hit here for sure!

[@SFSCharles]

Thank you for sharing your insights on the current situation in San Antonio.

[@jeffpiatt3879]

One of the issues that both Blackstone and small investors have encountered, in places like Austin that have progressive government/District Attorneys is that it usually takes MONTHS to get a bad resident off of your property. "Bad" being defined by "doesn't pay rent or damages the property- or menaces the other residents through noise or violence." Judges in places like Austin won't let you evict people per the residential agreement, if the resident files a complaint. If the bad resident files a complaint, the judge will often let them stay another month, and another, and another. All at the cost of the investor. Especially true after COVID. The investor loses the rent money over that timespan.

[@SFSCharles]

That’s a good point. Thanks for sharing. I think they need to be more concerned with what Gov Abbott might do. Love him or hate him, he has a way of shaking things up once he sets his aim on something. Institutional investors are one of his most current targets.

[@Jeff-jz5sf]

Oh boo boo these investors are making like 300k a year and taking that risk renting out to human beings

[@jeffpiatt3879]

@@Jeff-jz5sf Why would the amount of money they make matter, unless looking at it from a Marxist (Austin Resident) viewpoint?