As it should be. I’m not going to rent for the rest of my life, to some corporation in NYC or China. Forget that.
AgentEagleBait on
Queue TDS-fueled remarks on the benefits of institutional investors buying single family homes.
Mountain_Man_88 on
This is a move in the right direction, but appears to do nothing about the homes already owned by Wall Street. It also does nothing about homes and land owned by foreign nationals, foreign corporations, and foreign governments. If you’re not a US Citizen you shouldn’t be able to own US land. You especially should not be able to own US land and rent it back to a US Citizen at a mark up.
Unlucky-Prize on
He doesn’t have the legal authority to do this.
Institutional ownership tends to make more supply anyway and reduce prices eventually even though it does shift the market a bit towards renting instead of buying
Much of the issue is also blue state housing codes, workers comp torts, zoning laws, confiscatory transfer taxes and myriad legal challenges plus inept unresponsive bureaucracies and excessive approval steps. He can’t fix dysfunctional blue state govts. These corps often redline portions of those places because they aren’t even investible in flips.
4 Comments
As it should be. I’m not going to rent for the rest of my life, to some corporation in NYC or China. Forget that.
Queue TDS-fueled remarks on the benefits of institutional investors buying single family homes.
This is a move in the right direction, but appears to do nothing about the homes already owned by Wall Street. It also does nothing about homes and land owned by foreign nationals, foreign corporations, and foreign governments. If you’re not a US Citizen you shouldn’t be able to own US land. You especially should not be able to own US land and rent it back to a US Citizen at a mark up.
He doesn’t have the legal authority to do this.
Institutional ownership tends to make more supply anyway and reduce prices eventually even though it does shift the market a bit towards renting instead of buying
Much of the issue is also blue state housing codes, workers comp torts, zoning laws, confiscatory transfer taxes and myriad legal challenges plus inept unresponsive bureaucracies and excessive approval steps. He can’t fix dysfunctional blue state govts. These corps often redline portions of those places because they aren’t even investible in flips.