Quote:
Originally Posted by MikeD
Not according to this and other articles I've read lately. It's like 25% https://apple.news/AOM44gJsoQFSH-nDqddJz7A
"Bills from both Democrats and Republicans are popping up to make it harder for institutional investors to sweep up so many single-family properties that they affect affordability for both renters and would-be buyers.
That includes plans from Republicans to heavily tax large landlords to get them out of the business of single-family homes. There are also bills to cap ownership." |
Article is paywalled by apple news.
I've seen similar figures thrown around - and its likely a clickbait headline thats something to the effect of "25% of houses sold last quarter/year [in a year with very low volume] in a specific market [that has other factors contributing] are going to institutional investors"
I am awful curious what bills that congress thinks will do any good. Most housing markets are far, far more influenced by town/county governments than anything federal. And most of the federal control is through FHFA, HUD and the GSE's, which dont require congress to change policy directions.
All that said, there's a real problem in a lot of markets, and those local governments are asleep at the wheel. They have the property tax lever available to deter multiple/corporate ownership and I dont see any of them using it. All the towns along the blue ridge were awful quick to pass new regulations that clamp down on air b&b rentals so why is this any different?