Posted on 02/16/2024 9:04:18 PM PST by RandFan
Looks like it’s only out of state companies. So technically they just need an office there. The. The people could confront the empty space.
These companies aren’t buying them for families, they’re setting up a feudal system and driving housing prices to be unaffordable.
People who are crazy enough to go into debt for a half mil to get a decent home are taking on a massive debt no one will be able to pay for 30 years.
“People” are still buying homes in cash, a few who sold their home for a half mil are buying too.
And the American people are silent, except maybe Nebraska. Interesting.
Stopping all tax breaks for ‘non-profits’ is the first rational step toward stopping the crazies.
A good thing I think. It may cause values to come down, but I think that’s the idea.
Hope the hedge funds don’t suffer too much but luckily the government will bail them out if anything goes bad.
Agreed. There should be no property tax on primary residence and should pay higher and higher tax on the more homes they own. It would not hurt the house flippers too much, but would encourage them to flip faster. There should be more restrictions on foreign ownership of land.
Nailed it. Why does Bill Gates need to buy millions of acres of land? To build the Duchy of Bill Gates? To be the Marquis of the Great Plains? It's to keep people out.
It won’t. It is a good idea but Larry Fink will just find other ways to do it.
2030: “You vill own notsing und be happy..” - Kaiser Klaus.
More info with bill number here:
Bill text here:
https://nebraskalegislature.gov/FloorDocs/108/PDF/Intro/LB1405.pdf
I could see this being challenged on 14th Amendment equal protection grounds.
Willing buyers being corporations for family homes? Remember, there’s mega-sized organizations that want you to ‘own nothing and be happy’...so buy up all the family homes and only rent them. Families won’t be able to compete in the bidding.
I’m not saying it’s a good or bad idea...but there’s more than just a ‘free’ market going on.
If the mega corps are buying up home properties in a big trust sort of way so that small families and smaller property businesses are locked out...then the Sherman anti Trust act could be brought to bear against those corporate sons of female dogs!
I support that bill wholeheartedly. I think there should be a nationwide ban on institutions over a certain size buying residential houses as an investment.
And I don’t care if that makes the price of them lower.
Good.
We need more young Americans in those houses and we need them starting families.
bttt
Exactly. Normally I am against government regulating free markets but how is it free when these corps are shutting out individuals. I saw how they are doing it firsthand when a big corp tried to buy my FIL’s house. They offered cash and way over asking price. We took a lower bid, from a young couple instead. Most folks can’t or won’t do that or even think about it.
Correct, most won’t....but good on you.
I like it...
We are part owners of some isolated land in the Ozarks. We get dozens of letters each month wanting to buy that property, from companies all over the US. I got three letters in one day last week!
All members of the family have agreed NOT to sell.
Corporations are buying up every scrap of land in Oregon. Go to the coast and nearly everything is owned by a corporation renting them out as vacation homes or rentals. Many, where I use to live, are bought unseen and remain empty for years. But we were told, “ we will own nothing and like it.” Or not like it. Doesn’t matter to them.
Out here in North Idaho I have seen a single new house built. It is all apartments.
Another good idea for legislation that I hope would catch on in every state would be to not allow any foreign entity to own or lease any property in the U.S. This would not necessarily apply to individuals shown to be acting on their own authority. I understand there is much property in the U.S. already owned by foreign interests. This needs to be changed also.
MY property taxes pay for roads-—County deputies-—County fire department-—County ambulance—Schools (I NEVER HAD ANY KIDS) and other services.
I have had about three offers to buy my residential property (single family dwelling)in the last year by persons I am not familiar with in any way. The property needs some work, so I’m not sure what their motive is or what they might offer. Either way, I would have to find somewhere else to live & I’m not interested in that as it would likely cost me more money. If they offered to pay more than it’s worth, then I would be really suspicious as to their motives.
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