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re: Executive Order banning Big Wall Street from buying up single-family homes

Posted on 5/12/26 at 8:34 am to
Posted by stout
Porte du Lafitte
Member since Sep 2006
182512 posts
Posted on 5/12/26 at 8:34 am to
quote:

then was there really a need or demand for "affordable housing" in that area?



Since when is this about affordable housing?

quote:

If there was that little demand for housing, then they likely wouldn't have been able to charge inflated rent in those homes prior to selling...because if the demand WAS there, someone else would buy those (now cheaper) homes and start renting them out.



The demand was and still is there. The profit dried up. The reason they are dumping in FL is rising insurance rates. Unlike a local landlord, these companies have to hire companies to maintain the property. When you factor all of that in with insurance rates climbing faster then rental rates, then they are no longer at a ROI that makes sense so they dump the properties and buy in other states.

This is well known in my industry.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
37071 posts
Posted on 5/12/26 at 8:37 am to
quote:

Since when is this about affordable housing?



Since the OP.

Even if a corporation owns the dwelling, people still live in them. So if it's not about affordability, then what is the point?
Posted by stout
Porte du Lafitte
Member since Sep 2006
182512 posts
Posted on 5/12/26 at 8:37 am to
quote:

Why should the government be responsible for ensuring homeowners never take a loss?


I didn't say that at all. You are putting words in my mouth.

I do think it is in the best interest of consumers to keep large funds from artificially moving markets and that is what happens with a lot of these funds.

I also think this is more of a local issue FWIW but not many local Governments are willing to stop it.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182512 posts
Posted on 5/12/26 at 8:39 am to
quote:

Since the OP.


Ummm...in RE terms affordable housing is different then affordability.

Affordable housing is subsidized housing. Always has been.


Posted by BugAC
St. George
Member since Oct 2007
57895 posts
Posted on 5/12/26 at 8:42 am to
quote:

You think the person arguing that government shouldn't treat people differently and affect the market is the communist?


Corporations aren't people. Unless you love an oligarchy.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
37071 posts
Posted on 5/12/26 at 8:51 am to
quote:

Affordable housing is subsidized housing. Always has been.


Ok, fine, but you knew what I was talking about. Nowhere in here have I or anyone else referenced subsidized or Section 8 housing.

ETA: and for the record, I would love it if a corporation dumped a bunch of houses on the market here. Myself and other SFH buyers would celebrate
This post was edited on 5/12/26 at 8:55 am
Posted by stout
Porte du Lafitte
Member since Sep 2006
182512 posts
Posted on 5/12/26 at 8:53 am to
quote:

Ok, fine, but you knew what I was talking about. Nowhere in here have I or anyone else referenced subsidized housing.


No, not really. I didn't read the entire thread and only responded correcting a few things SFP said on the last few pages.

Posted by Picayuner
Member since Dec 2016
3836 posts
Posted on 5/12/26 at 8:54 am to
How about only one home per owner for all. Only one home per social security number of legal citizens.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
37071 posts
Posted on 5/12/26 at 8:55 am to
quote:

How about only one home per owner for all. Only one home per social security number of legal citizens.


I'm not sure if this is serious, hyperbole, or something else.
Posted by stout
Porte du Lafitte
Member since Sep 2006
182512 posts
Posted on 5/12/26 at 8:56 am to
quote:

Only one home per social security number of legal citizens.


Landlords are still needed

We just don't need landlords that are big enough to artificially move whole markets all on their own.
Posted by tonydtigr
Beautiful Downtown Glenn Springs,Tx
Member since Nov 2011
6715 posts
Posted on 5/12/26 at 8:58 am to
quote:

With populists, expect populism.


With contrarians, expect contrarianism.
Posted by Taxing Authority
Houston
Member since Feb 2010
63498 posts
Posted on 5/12/26 at 10:11 am to
quote:

I didn't say that at all. You are putting words in my mouth.
Fair enough. But other than insulating existing homeowners from losses, I'm not sure what the value proposition of allowing the government to manipulate the market is. What is your value proposition for allowing government to manipulate the market?

quote:

I do think it is in the best interest of consumers to keep large funds from artificially moving markets and that is what happens with a lot of these funds.
I'm curious. What is your definition of "artificial" market particpants vs. "natural" (?) participants?

quote:

I also think this is more of a local issue FWIW
Always.

quote:

not many local Governments are willing to stop it.
To be fair it's kinda hard for states or cities to regulate commerce. Once upon a time it was hard for our federal government to do that to, but many are begging for it now.
This post was edited on 5/12/26 at 10:14 am
Posted by Tridentds
Sugar Land
Member since Aug 2011
23958 posts
Posted on 5/12/26 at 10:34 am to
quote:

This is complete commie bullshite. And it will hurt homebuyers and renters.


You mispelled Nimrod. Luckily your comment cleared it up.


Good lord.
Posted by faraway
Member since Nov 2022
3819 posts
Posted on 5/12/26 at 10:37 am to
absolutely unconstitutional. not a small government move.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
477219 posts
Posted on 5/12/26 at 10:46 am to
quote:

Corporations aren't people.


a. That comment had nothing to do with corporations

b. Corporations are juridical persons, and juridical persons have existed since at least ancient Rome
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
477219 posts
Posted on 5/12/26 at 10:46 am to
quote:

With contrarians, expect contrarianism.


There is nothing contrary with promoting the free market, which I've done for 20+ years on here.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
139028 posts
Posted on 5/12/26 at 11:43 am to
quote:

Just like MAGA will be defending government manipulation of free markets

With populists, expect populism.
"Government manipulation" aka the law?

"Government manipulation" limits monopolies, murder for hire, unsafe food, hazardous toys, dangerous products, etc.

Government manipulation enables Wall Street to buy tracks of homes, then rent them at a profit. The buy-up increases starter homes costing young buyers the opportunity for ownership, as well as increasing monthly cost of renting.

You've argued the housing bubble needs to burst, that the market needs to crash. Monopolistic large companies can manipulate that into not happening. So out-the-window goes you free market premise.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
139028 posts
Posted on 5/12/26 at 11:46 am to
quote:

There is nothing contrary with promoting the free market
But assigning the term "free" to a manipulated market is contrary.
Posted by ithad2bme
Houston transplant from B.R.
Member since Sep 2008
3687 posts
Posted on 5/12/26 at 11:56 am to
quote:

Where are these lower property taxes occurring?

I know Texas has it


Where in TX? I am in Montgomery County and even though they increased the homestead exemption, with the higher values my taxes still went up this year.
Posted by SlowFlowPro
With populists, expect populism
Member since Jan 2004
477219 posts
Posted on 5/12/26 at 11:57 am to
quote:

Government manipulation enables Wall Street to buy tracks of homes, then rent them at a profit.


Government or the market?

quote:

You've argued the housing bubble needs to burst, that the market needs to crash.

Yes, and that's happening with these institutional investors.

quote:

Monopolistic large companies can manipulate that into not happening.

1. There are no "monopolies", or anything close to it. Don't be a retard like RobBob

2. The opposite is happening, and has been for years. These institutional investors are taking HUGE losses on their RE investments, currently. RE and AI are busting the private credit bubble, too.
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