Mega corporations like Blackrock and Vanguard are buying up single family residences at top dollar. With their unlimited funding, individuals and families are being forced out of the market and home prices skyrocketing as a result.
These corporations should be given a window (perhaps 2-years) to sell at market rates, and assistance should be provided to the renters for relocation and purchase options, down-payment assistance, etc.
This would have an immediate impact on high home prices and would not hurt the corporations, they can simply invest in other ventures after the sale of these properties.
They should limit the amount of single family homes to 50 they should get a tax break and discount on planing and zoning for subdivision of six or more houses
Agreed. There is a massive housing shortage not just in the US but in Ireland, The UK, Australia etc.
Corporations started buying single family homes in 2008. In 2011, no single entity owned more than 1,000 single-family rental homes.
However, Large institutional investors owned 574,000 single-family homes in 2022. Most by Invitation Homes a spin off sub company of Blackstone, Blackstone itself and progressive residential.
We need to End Hedge Fund Control of American Homes Act of 2023**
This bill would prohibit hedge funds from owning single-family homes and give them 10 years to divest their current holdings.
American Neighborhoods Protection Act
This bill targets non-corporate owners who possess more than 75 single-family homes
If not these other laws. Americans r being outbidded face shortage of housing huge rent hikes and homelessness bc of it. It’s my understanding they are not even US corporations.
The Biden administration and their socialist leaders have ZERO desire for homeownership and have made it impossible to buy one. They’ve escalated insurance, created a market dearth, and made maintenance and security impossible. I support the limitation of corporate homeownership. Any number of homes outside the immediate needs of one corporation to house new employees, to create jobs in flipping, should be limited. The average person cannot compete with Warren Buffet when it comes to buying a house.
Your observation touches on a critical aspect of housing policy, but I believe this issue is part of a larger set of concerns that merit a comprehensive approach. I’m in the process of drafting a detailed policy proposal that aims to address multiple dimensions of housing and other basic human needs under the purview of the United States Department of Housing and Urban Development (HUD). United-States-Department-of-Housing-and-Urban-Development
Current Observation:
The idea of banning corporations from owning homes highlights the need to re-evaluate how housing is treated within the market economy. It opens up questions about:
Affordability: How corporate ownership affects access to housing for individuals and families.
Market Dynamics: The impact on housing prices when homes are viewed as investment vehicles rather than places for living.
Broader Proposal:
I’m considering a policy shift where essentials like:
Air
Water
Soil
Food
Shelter
Health
are treated as commons rather than commodities subject to profit motives. This approach could involve:
Decommodification of Housing: Exploring models where housing is seen as a right rather than a market commodity, possibly through public housing initiatives, community land trusts, or cooperative ownership models.
Legal Frameworks: Developing laws that limit or regulate corporate ownership in residential properties, ensuring that housing markets serve community needs first.
Environmental Stewardship: Integrating policies that ensure access to clean air, water, and soil, recognizing these as fundamental rights that should not be compromised for short-term profit. (Although that falls more under the purview of the Environmental-Protection-Agency )
Health as a Right: Aligning with broader health policy to ensure access to healthcare without the influence of corporate profit motives. This proposal aligns with my ongoing work to address the unchecked power of pharmaceutical companies, where health should be prioritized over profit. After finalizing that draft, I intend to delve deeper into these housing issues, aiming for a legislative framework that not only bans corporate home ownership but also redefines how we view and manage basic human necessities for the betterment of society as a whole.
I need to say My piece I’m one of those people that has been affected by corporate greed I’m disabled been disabled for ten years My wife has been disabled for fifteen years my son lives with us and he is disabled to I’ll Tell you what problem we have so you don’t think we’re some of them bums that take advantage of the system first My wife has cardiomyopathy her heart beats at 15 percent My son has a l back(mechanical heart) i have
Cardiomyopathy to (35) I have COPD brittle bones I’ve broke my back 2 times I’ve broke 3 ribs I’m not complaining about that Life is what it is oh it would not be right if I didn’t mention My youngest son he had a heart transplant at 16 he was 34 when he died anyway I stayed renting my house seven years ago and paid nine hundred lived there for three years and never had no problem he sold to a company and in five years they’ve raised my rent ten percent (the max amount they can) my rent is now 1465 now it may not seem like much but I’m living on a fixed income and it’s killing me at this rate I’ll be homeless in a couple years
This proposal aligns with my ongoing work to address the unchecked power of pharmaceutical companies, where health should be prioritized over profit. After finalizing that draft, I intend to delve deeper into these housing issues, aiming for a legislative framework that not only bans corporate home ownership but also redefines how we view and manage basic human necessities for the betterment of society as a whole.