Here PE firms are buying everything in sight real estate-wise. Everything that goes on the market. Houses, land, commercial buildings, resorts, apartment buildings, vacant malls, everything.
Of course, the cost of living around here is skyrocketing. Service people, the hospitality industry, ag labor and unskilled workers can’t afford to live here so the area is being flooded with ‘affordable housing’ units being built by the tens of thousands.
It’s getting ridiculous. It doesn’t help that The WSJ just published its list of best places in the entire world to visit and guess what? My town is in the top ten:
https://www.9and10news.com/2024/12/27/traverse-city-named-a-top-10-travel-destination-in-the-world/
They’re wrecking the place.