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There are certainly some wealthy investors here, but how many here have 5, 10, or 12 houses as retirement investments?

Speaking with Fox's Maria Bartiromo at Davos, United States Secretary of the Treasury Scott Bessent explained that "mom and pop" investors with 5, 10, and 12 houses as retirement investments would not be hurt by moves by the Pedophile Protector to ban large institutional investors from purchasing more single-family homes.

And, well, umm, ya' gotta' wonder how many older regular Americans own 12 houses.

I'm guessing, not many.

But how out of touch do you have to be to think any sizeable number of average American investors own 12 houses?

Well, as out of touch as someone worth $600 million evidently, like Bessent.

And, well, umm, ya' gotta' wonder how many older regular Americans own 12 houses.

I'm guessing, not many.

But probably more than you think. Well, maybe not 12 exactly - but 5 or 10.

Per the data, most single-family homes that are owned by investors are owned in small bunches:

Despite headlines about Wall Street landlords, the market remains overwhelmingly controlled by small investors. Owners of just one to five properties account for 87% of all investor-owned homes, the report found. Another 4% belong to those with six to ten properties. By contrast, large institutional players with portfolios exceeding 1,000 homes control only 2% of the market.

https://nationalmortgageprofessional.com/news/smal...

Doing the math for a moment, there's about 17 million SFH that are investor-owned. So about 700K SFH are owned by investors with 6-10 homes - so probably about 100K people/investors there. There's probably a very much larger number that have 4-5 homes - the number of individual mom and pop owners with 1-5 homes is going to be at least 3 million, so maybe half a million are going to be at the upper end there?

It should be noted that this doesn't mean these houses are owned individually by little old retirees - some of them will be actual businesses or investment vehicles for groups of people. But Bessent is probably right to get out there on this point, because most of the people who would look with worry on a ban on investor-owned SFH are people who are involved with only a small number of properties - and you don't want them to get scared/pissed off.

The most important thing about this thread is that it shows 1) the profound ignorance of a lot of you Leftists on this board about well, almost everything (not you albaby1, you educated him hopefully, he won't care of course); 2) the insistence on stating with complete confidence, opinions based on nothing but what might be in their diapers at the current moment.

albaby1: Owners of just one to five properties account for 87% of all investor-owned homes...

One?

Well, by that definition, everyone here is a property investor, then.

One?

Well, by that definition, everyone here is a property investor, then.

I think from context, "one" means a home that is owned as an investment property and not being used as the residence of the owner....

Not everyone invests the same way.
A co-worker of mind has never put a dime into her 401(k). Instead she owns 2 homes in the Seattle area and another 2 or 3 plus a couple of condos in Southern California. It's a lot more prevalent than people think.

you don't want them to get scared/pissed off.

Too late. Long-term investors already own their properties--no mortgage--OR they kept refinancing them at ever-lower interest rates until they were at 3% or so. Thus, the investors are "locked in" at low-interest/high-valuation properties as a result.

Now they can't get out with the profit they need--so they BOTH scared AND pissed off.

opinions based on nothing but what might be in their diapers at the current moment.

The definition of a RWNJ.

albaby1: I think from context, "one" means a home that is owned as an investment property and not being used as the residence of the owner....

Well, you're free to contextualize it any way you want. Then again, so am I. BTW, my larger point remains, which you yourself confirm: "this doesn't mean these houses are owned individually by little old retirees."

albaby1: But Bessent is probably right to get out there on this point, because most of the people who would look with worry on a ban on investor-owned SFH are people who are involved with only a small number of properties...

No. Bessent clearly told Bartiromo he meant mom and pop investors, people like her parents.

And maybe her parents could have afforded 12 houses but her father ran the family's Italian restaurant and catering hall, The Rex Manor, in Brooklyn, while her mother, Josephine, served as the hostess and also worked as a clerk at an off-track betting parlor, so I'm guessing, no. He's dead and she's 93 (if she's still alive).

Sorry, Bessent is full of shit but I'll let you contextualize some more.

No. Bessent clearly told Bartiromo he meant mom and pop investors, people like her parents.

Well, there wasn't a link, so I wouldn't know. The quote you excerpted didn't include any mention of her parents specifically, so I didn't know they were talking about them in particular.

fwiw, my immediate boss at one of the Steelcase dealers I worked for owned several rental properties around metro Detroit. The owner of a web site that I read owns several rentals around Eugene, Oregon. Neither of these guys gave an impression of staggering wealth, or put on airs of being better than everyone else.

If you make middle class money, and don't spend on much of anything else (Paul's usual transportation is a Ford pickup that is about 20 years old), and you leverage yourself as far as the bank will allow, yes, it's plausible that people of average means could own several income properties.

Steve

In the good old days days I had more than that.

Now, it's a humble 4. 1 to live in. 1 in Millenial Mayberry where the "waaa was student loan" people love paying extra for granites and backsplashes and puppy trails. 3 in Blue area that serve as homes for multiple families (no such thing as illegal human beings) that cost the local school district money well over the paltry property tax being paid.

(I like to think I contributed to the slight cuts in extra curricular activities in that district. Just in my own tiny peasant way)

But probably more than you think. Well, maybe not 12 exactly - but 5 or 10.

The neighbor on my south side has 9 houses. They're liberals, retired teachers.

The neighbor on my north has 6. He's a contractor, MAGA.

Both live in the central valley, show up on nice weekends.

There are 6466 housing units in Morro Bay and approximately 19% of them are second homes (approximately 1250 living units)
https://www.sharemorrobay.com/thefacts

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