44% of flipped single-family home purchases were by private investors in 2023
Private equity firms have been carving out an increasingly substantial share of single-family home purchases, raising concern about the potential consequences for housing affordability and market competitiveness.
In many places it is illegal ... local laws prohibiting landowners from owning over X% of properties, or land. Doesn't mean they won't ignore the laws and do it anyway, just like MERS was clearly illegal (Mortgage Electronic Registration System, transferring property titles outside of county clerks offices) back in the 2008-2010 mortgage meltdown.
Pretty sure Blackrock is scheduled for seizure/forfeiture under the plan, though, so we'll have to be patient a bit longer. Bad if you want to buy a home now, though.
Im thinking of a day when all these homes owned by corporate pirates are taken from them and put to good use.
I think it should be outlawed for these corporations to have residential properties in their portfolios. If for no other reason than to prevent them from controlling rental rates. It's become a big enough deal that some states have already taken action.
Yup get rid of foreign investors and corporations owning homes
What do you think will happen with mortgages under the plan? I'm not sure whether or not move somewhere less expensive or hold out until Trump is back (I am in the UK so I assume things will take longer over here to filter through, though I might be wrong)
You can be sure that Blackrock/Vanguard violated all sorts of election laws. These homes will be seized from them, sold to benefit the treasury back to the public.
https://www.presidency.ucsb.edu/documents/executive-order-13848-imposing-certain-sanctions-the-event-foreign-interference-united
To borrow a quote from Colonel John Hannibal Smith, of the A-Team… I love it when a plan comes together.
Yes, of course it should be outlawed. Between this and the illegals taking up housing, American citizens are being screwed out of building generational wealth through homeownership. Now you pay so much in rent you can’t save for a down payment to own. And even if you can pay cash for a house, you are competing with the private equity firms who have unlimited cash and can outbid everyone. It’s not a fair playing field.
It isn't even the cost of the house, it's the rapid inflation causing the cost of plumbing, electrical, roofing, INSURANCE, etc that makes it impossible to hold on long term.
I read an article a couple months back that a bill was introduced to require investment firms to divest their ownership of single family homes. Not sure the status.
Would anti-trust laws not apply to "financial monopolies"?
Blackrock's Ai Alladin is going to own the world.
It should all be seized as those companies are all violators of Eo 13848.
Blackrock pays better than We the People
What's wrong with the fourth branch of government buying homes instead of families?