They’ll just open shell companies. Corporate participation in the housing market is morally wrong, and one of the biggest blunders in the legislative system of the USA. It is an erosion of democracy. Housing is a fundamental human right. The vast majority of land is unoccupied, and that which is fit for occupation is not adequately zoned to compensate for the needs of people. The entire housing market is an inflation scam. There is absolutely no reason for houses to cost so much, especially considering they are made of toothpicks and papier-mâché with no attempt made to make them efficient or sustainable at scale.
Ban firms from owning more than 2 private residences.
I think there are places where you want to be able to house workers, and I’d rather have people living in residences than on company land.
But I appreciate the sentiment, I think companies should be limited in their ability to charge people for living.
Then the company can build/buy high density housing. Single family homes should not be used as corporate investment vehicles. Ever.
So how many firms can I own that own 1,000 homes?
The 1,000 home cutoff was likely chosen so as to not unfairly exclude “mom-and-pop” investors, according to Ryan Lundquist
This bill will not actually solve the problem. If investing in making housing unaffordable is profitable, it will happen regardless of who owns the houses. Banning corporations, or foreigners from owning houses will not solve this.
They need to change the incentive structure. But that would ruin their investments, so lawmakers push bills like these that look like they’re doing something.
owning more than 3 should be illegal.
People are putting really low limits, but I’d put the limit at between 5 and 10 for people who want to actually rent them out; that’s enough to reasonably manage. But with the caveat that they are specifically for rentals, contractually required to be rentals priced reasonably for the market.
