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re: WSJ: Wall Street Has Spent Billions Buying Homes. A Crackdown Is Looming.
Posted on 4/29/24 at 10:12 am to Dawgfanman
Posted on 4/29/24 at 10:12 am to Dawgfanman
quote:
People gonna love seeing their “equity” go poof.
That's gonna happen anyway if we no longer have an affordable market and everyone turns to the mindset of being OK to just be renters.
I own rentals so I will wait and see how they structure any bill. Merely taxing it will only hurt the consumers and do nothing to slow it down. Rental rates will just increase.
I am never for regulation but I am pro middle class. I still think home ownership is the greatest wealth-building tool for the middle class but institutional buying is OOC and killing that dream for many.
3
Posted on 4/29/24 at 10:15 am to stout
quote:
That's gonna happen anyway if we no longer have an affordable market and everyone turns to the mindset of being OK to just be renters
Have you seen rent prices? Why does anyone think renting is cheap? Sure, buying isn’t cheap but renting isn’t cheaper.
It’s like saying new car prices are expensive so I’ll just lease. (Yes I know there’s some good deals on leases, blah blah)
Ultimately if you have a down payment owning is still going to be cheaper than renting. You aren’t paying a middle man to manage your home.
Posted on 4/29/24 at 10:16 am to stout
quote:
I am never for regulation but I am pro middle class. I still think home ownership is the greatest wealth-building tool for the middle class but institutional buying is OOC and killing that dream for many.
Govt devaluing the dollar and flooding the country with money since 2020 caused this, institutional buyers are just their bogeyman.
Posted on 4/29/24 at 2:44 pm to stout
quote:
The bills in the House and Senate would cap rental-home ownership at no more than 50 homes for many companies, requiring them to sell off any more they already own. A bill in Minnesota, meanwhile, would limit ownership to 20 homes.
This does nothing. They'll just setup multiple LLC companies and carry on as they do now.
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