Investor Home Purchases Crash 45% In Biggest Drop Since 2008 - Why?

[Account Closed]

Apparently, we're not doing our jobs as investors. The world is worried.

On another note, yesterday on making a cold call; when I told the owner I was an investor looking to buy a house, the owner got mad and said that "he'd never sell to an investor because investors are the reason housing prices have gone up". That was news to me. I guess he doesn't understand the second law of thermodynamics, basically from order to disorder. Houses need to be maintained, fixed up, rehabbed (like his does)  and that it takes time & money to keep a property from becoming potting soil. ;-) The "useful life" theory.  

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https://www.zerohedge.com/economics/airbnb-bubble-bursts-inv...

"The decline comes as this year’s relatively cool housing and rental markets makes investing in homes less attractive than it was during the pandemic-driven homebuying frenzy of 2021 and early 2022, when record numbers of AirBnB were purchased as hotel and lodging surrogates (Redfin defines an investor as any institution or business that purchases residential real estate).

The drop in purchases has brought the total number of homes bought by investors below pre-pandemic levels, which is a major concern for a market where investors remained the last remaining support pillar now that most average Americans seeking to buy their first home are simply unable to afford it and are stuck renting indefinitely.

Real estate investors bought roughly 50,000 U.S. homes in the second quarter, the fewest of any second quarter in seven years, with the exception of the start of the pandemic."