Luxury Market in Real Estate Heating Up
Where can the little guy take advantage of the luxury real estate market? So many multi million dollar properties taking a dive, and only institutional investors will get the finance option to buy. What happened to equal opportunity auctions? Why should hedge funds get first dibs? I suggest the finance model be expanded to include co-op groups who pay their mortgages.
This country became great based on the ability of everyone to get in on the ground floor and the loan creation conventional wisdom has been far from laudable these years past. Every kind of microfinance or personal loan market needs to be revamped. I would like to see more opportunities for co-op funding and mobile app lending as well as more modest co-funding for properties like mobile homes and prebuilt homes for people that really need it. This country is finance poor and overbuilt home rich, why not start financing mobile homes and co-op living in models that make residential housing sense?
That way the housing problems, debt gap, and finance glass ceiling gets normalized all at once. We need to see more equal lending across the board!