Yes they do, including vail resorts. But they also don’t own as much of the real estate market as you think.
We also have to couple in the clamping down on STR like nyc just rolled out and the cooling of the “AirBnB economy”.
All of this means eventually people will cut their portfolio of rentals, people retire, people die, etc. People are looking at data from websites like airdna thinking their little POS bungalow is worth $500/night. The market is way oversaturated and that’s a chunk of the problem. 2nd, 3rd homes being utilized as STR.
Families will eventually get over their golden handcuff rates and want to move, as well.
Its very apparent the fed is keeping rates high to cool runaway home prices. We have been seeing pretty much unprecedented appreciation of home prices which is largely from this fomo madness that kicked off during COVID.
it is absolutely ludicrous to me how people
think this will continue. I work in the industry so I hear it all the time but there’s nothing of substance to it. It’s also in the finance and real estate sectors interest to tell people the market only goes up.
Let’s not forget the Zillow bidding fiasco too at the start/middle of the pandemic. I could drone on and on and on about all this but all I really have to say is: we’ll see.
PS October - student loans. Retail expecting a tightening of the belt. We’ll see what comes of that.
BigPurpleSkiSuitYour comment. Companies are often shortsighted but real estate as a whole is not, particularly in the day and age where Blackrock and Vanguard have their claws in literally just about everything of value.
**This post was edited on Aug 30th 2023 at 5:00:36pm 
