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Wall Street has spent billions buying homes. Lawmakers want to stop that. WSJ link -
Posted on 4/29/24 at 6:10 pm
Posted on 4/29/24 at 6:10 pm
Investors of all sizes went on a home-buying spree during the pandemic. Proposed legislation in the U.S. Senate and House would force large owners of single-family homes to sell houses to family buyers. A bill in the Ohio state legislature aims to drive out institutional owners through heavy taxation, with similar laws proposed in Nebraska, California, New York, Minnesota and North Carolina. Lawmakers say that investors who have scooped up hundreds of thousands of houses to rent out are contributing to the dearth of homes for sale and driving up prices. Companies that buy single-family homes say their businesses provide renters the opportunity to live in desirable neighborhoods where they otherwise couldn’t afford to buy. Also giving investors headaches right now? The presidential election and a possible AI bubble.
LINK
LINK
3
Posted on 4/29/24 at 6:11 pm to Eurocat
What's the catch?
Posted on 4/29/24 at 6:18 pm to Eurocat
I have mixed emotions on this. On the one hand, frick Blackrock and their ilk.
OTOH, I invested in a small lakefront condominium (that I currently have rented out) because it was a good deal and I plan to make it my retirement destination one day and supplement my retirement income by renting out my primary home in DFW. I just know that the government is going to try to find a way to frick me on it.
OTOH, I invested in a small lakefront condominium (that I currently have rented out) because it was a good deal and I plan to make it my retirement destination one day and supplement my retirement income by renting out my primary home in DFW. I just know that the government is going to try to find a way to frick me on it.
This post was edited on 4/29/24 at 6:29 pm
Posted on 4/29/24 at 6:20 pm to Eurocat
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