Submitted by BumbleBeeVomit t3_ygo5sv in rva
againer t1_iudv6cy wrote
Reply to comment by opienandm in Rising mortgage rates will exacerbate the housing situation in RVA by BumbleBeeVomit
I should have clarified that it's the big corporate homebuyers who are going to be the bag holders on toxic home assets. Not the three companies I originally indicated. I didn't mean like wholesale liquidation as in they own thousands of homes, just getting rid of the inventory of what they do own. I don't see it majorly impacting the housing market here or at large. Just pointing out that it's a signaling indicator.
Some of the big corporate homebuyers can carry the float. Only for so long though. At the end of the day though, no one likes going to their boss and saying "Yeah I lost us a ton of money by holding on too long". Even CEOs fear the board.
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