Lawmakers say investors that scooped up hundreds of thousands of houses to rent out are driving up home prices

Wall Street went on a home-buying spree. Now, more lawmakers want to stop it from ever happening again.

Democrats in the U.S. Senate and House have sponsored legislation that would force large owners of single-family homes to sell houses to family buyers. A Republican’s bill in the Ohio state legislature aims to drive out institutional owners through heavy taxation.

Lawmakers in Nebraska, California, New York, Minnesota and North Carolina are among those proposing similar laws.

While homeowner associations for years have sought to stop investors from buying and renting out houses in their neighborhoods, the legislative proposals represent a new effort by elected officials to regulate Wall Street’s appetite for single-family homes.

These lawmakers say that investors that have scooped up hundreds of thousands of houses to rent out are contributing to the dearth of homes for sale and driving up home prices. They argue that investor buying has made it harder for first-time buyers to compete with Wall Street-backed investment firms and their all-cash offers.

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  • SoylentBlakeEnglish
    21·
    6 months ago

    I think every civil employee should make the average income in their district, whatever that may be, adjusted annually, or monthly, idk depends how good their data is, if they got it, adjusted daily (I despise employers withholding pay towards a pay period, why should they hold whats mine so they can get the interest off it, without kicking that down to me? They should pay US for that convenience) If you want to earn more, bring in more/better/profitable business. A small tier system, like 3 levels, so a judge, or congressman, or senator gets 3x the clerk. Maybe 10x for governor, since that’s the pinnacle of state government, right? Senate delegations and congressional cohorts earn the same. The difference is in length of term to establish continuity in governance, it’s not another unnatural heirarchy. I mean it was probably meant as all that initially, being appointees by the governor and all, but with that repeal tho, they just longer congressmen. We can easily do without the Senate completely, at all levels.

    Why does the legislative branch have built in redundancy unless legislating is de facto kneecapped as SOP. You know what, let’s keep the check in the system there. Let’s make it fair tho, let’s set into law, at equal level of government, Civilian oversight and review of everything DOJ/DOC. And then to parallel the executive, we’ll elevate the SEC and add/enshrine citizen auditing of every dollar spent from the government and traded at the market. Both accountability houses ‘jury duty’ their workforce, and the civic duty is mandatory when leaned on, names anonymous unless unsealed by a panel of judges due to criminal activity, to prevent intimidation.

    Let’s go. Fuck corruption.