The current housing situation has made the American Dream unattainable for many people, especially young families trying to get a start. Hard-working Americans can no longer afford to purchase a home anymore. Too many single family houses throughout the country are owned by foreign entities, or by companies like Black Rock and Vanguard, for the purpose of being rental properties. Require these groups to sell all single family housing in their inventory within 6 months, or it will be seized and auctioned.
Agreed, this is not only a economic issue, but a national security issue as well, as Chinese investors are buying mass amounts of land near US military bases. The American people are owed a chance to live the American Dream, and that cannot happen if foreign and corporate investors buy all real estate and turn them into rentals while charging inflated prices. I support this 100%
I would maybe further specify that this be limited to single family homes.
You are correct, that was my intention. I’ll edit.
Agreed. I think if we made significant changes to the 1031 exchange so that larger scale investors could not divert and ultimately avoid paying capital gains they would voluntarily sell their investment properties. Increasing supply will immediately make housing more affordable.
The greater issue is the long process it takes developers to rezone land and subdivide it. The greater solution is to demand there be a length of time limit for how long a city can take to respond to requests for rezoning and subdividing.
This will address the immediate issue of pre-existing homes. Those do not need to be rezoned or subdivided.
Don’t forget land!!
Ideally, no foreign entity would be able to own any land in the US. That can be trickier, and a more involved process depending on what land is currently owned, and what it is being used for. Land would be more of a step 2 in the process, after housing was dealt with.
Here is how to do it:
Story of Pottersville in “It’s a Wonderful Life” Single Family home should only be for true families, if corporation wants to own and rent have that be Business to Business rentals (Commercial Real estate). Maybe another solution would be to have the Taxes on such investments so high that it makes owning single family homes no longer an attractive investment. This could be how they have them phase out instead a mandatory 6 month sell of their inventory which could create other economic issues by flooding the market with inventory. They could increase the taxes for these corporation or foreign entities each year to the point where they would need to then sell due to no longer being profitable investments.
No Foreign country shit on anything in America it is Americans only
If you like this policy i think you’ll also agree with our proposal.
Please vote and comment on our proposal to ban China from Selling Direct to Americans
This should have more visibility and is one of the most damaging issues facing middle class Americans. Between mortgage rates, insurance costs and wall street / foreign investment in residential real estate regular American workers stand no chance to reach the quintessential dream of home ownership and furthermore, with these large investment firms buying regular residential real estate, they drive the rental prices up so Americans are left choosing between feeding their family and homelessness.
Homesteads Exception -
https://forum.policiesforpeople.com/t/limit-foreign-ownership-of-land/5383?u=law
This makes a ton of sense and fits very much in line with our proposal to preserve the US economy for the betterment of US businesses. Please consider voting for our proposal!
No foreign entity should “own” any part of America. They may under strict oversight (+jobs) be allowed to lease and pay fees that support our America First Agenda.
Id like to add that people can’t own more than 3 properties that are Rented to the public
This needs way more visibility, there’s no reason young families should have to compete with billion dollar investment companies for single family homes. If we want to restore the “American Dream” a great starting place would be to bring the possibility of homeownership back into the minds of young Americans as something that is reasonably achievable in their lifetimes on a single income (working father stay at home mother type of scenario)