this post was submitted on 11 Jan 2024
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The system is broken (lemmy.zip)
submitted 10 months ago by [email protected] to c/[email protected]
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[–] [email protected] 2 points 10 months ago

Apartment valuation is calculated on operations not on the market

Apartment valuation in my area spiked until the ROI crossed 10+ years. People stopped buying apartment buildings for a while except as owner-occupied with renters to assist. But in my area, none of those reach anywhere near a net-zero mortgage. The market absolutely still has an effect on valuation in most areas.

But two towns over, people are selling apartment buildings with 2-3 year ROIs, and they're being swept up by one of a small handful of investors. Building maintenance is terrible, and there's very little interest in the legal risk of being slumlords except those who are already slumlords over 40-50 buildings or more.