First, if you are a non-citizen, or you are a company whose president, board, CEO, etc. are non-citizens, and/or you are not headquartered in the United States, you simply are never allowed to own any land. Ever.
To the larger point:
When a person owns a home (or more specifically, the land the home is on), they only own the home for as long as they are alive, or they move. The vast majority of people who own land only own one single parcel of land.
This action creates competition and eternal churn in the housing market which can drive down prices and keep opportunities open.
However, this does not apply when corporations are able to own land. Corporations are deathless entities that could theoretically exist for a thousand years. A corporation with sufficient assets who creates enough of a profit model could theoretically outright own entire towns, which is reminiscent of the “Company Town” model of the late-19th century and the nightmare that that was. There is no antitrust provision to prevent this from happening.
Megacorporations are buying residential properties at an extremely high rate, monopolizing housing, and these corporations have sufficient assets to rent these homes out as rental units in absolute perpetuity. Additionally, it is not uncommon for people in these corporate-owned homes to have no idea who their landlord even is, nor have any way to contact them, which severely impacts tenant’s rights.
It is my proposal that, broadly speaking, land ownership should be broadly prohibited by corporations. This is creating a tremendous economic timebomb in America’s future, where without consent, all our food is produced only by Hormel, who will not sell any farmland, and thus, nobody can ever enter the farming market as the land is not available for sale.
Single-Family, Duplex, or Townhome Residences should be forbidden from ownership by any corporation, except as an action by foreclosure of default. Any property held in this fashion can only be released through sale or auction of the property, listed for sale no longer than 180 days after seizure.
Multi-Unit Buildings (apartments) are permitted to be LEASED by a corporate entity. The land such a building is erected upon is owned by the United States and leased for commercial use on five-year leases. At the end of every five-year leasing period, the United States is obligated to either renew or transfer the lease, with small businesses, sole proprietorships, and unincorporated individuals being given priority.
Small Businesses are permitted to own farmland. Other Than Small Businesses can only lease from the government.
Commercial property can be leased by Other Than Small Businesses but on extended twenty-year leases.
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The general idea is to increase competition, and give Small Businesses a serious competitive edge in engaging in businesses while cracking monopolies on America’s food production that is currently held by Megacorporations like Hormel. This would also typically turn renting into a “mom and pop landlord” versus the deathless faceless dystopic corporate nightmare that is currently the reality for most renters.