Motley Fool Money iBuying, Real Estate Investing, Home Inventory
Feb 18, 2023
Jamil Damji, co-founder of KeyGlee and star of A&E's "Triple Digit Flip," dives into the complexities of the real estate market. He discusses the impact of Zillow and Opendoor halting their iBuying programs, leaving home inventory stagnant. Jamil shares insights on the stable rental market and the evolving role of landlords in today’s economy. He highlights how institutional investors are reshaping property dynamics and the unique advantages smaller investors have in a competitive landscape.
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Key Market Metrics
- Pending sales and days on market are key metrics for understanding real estate market temperatures.
- Low days on market indicate an inventory shortage, despite market slowdowns.
Private Equity's Impact
- Private equity's involvement has transformed the housing market, impacting inventory and pricing.
- This has prevented a price crash and created a new dynamic in real estate cycles.
iBuyer Mistakes
- iBuyers like Zillow and Opendoor overpaid for properties, but those homes didn't reach regular buyers.
- Instead, they were sold in bulk to private equity, further limiting inventory.