I'm assuming companies like Blackrock have so many small shell companies that they could easily get around something like this.
I'm curious how this is going to affect small businesses, like a partnership, that have registered as an LLC or other type of Corp for liability purposes. Where are they going to draw the line on companies purchasing houses?
Yep, was thinking something like that. Someone who owns multiple properties they rent could be in principle considered to be like Blackrock.
companies like Blackrock have so many small shell companies that they could easily get around something like this
I didn't think about that, but that's a good point and the kinds of problems I see with laws like this: they purport to solve some kind of problem, but don't, and then create new problems like the above you mentioned that I had also partly considered.
Which is why I have thought approaches that don't require a law to pass them can be actually more effective for solving issues like this
I'm assuming companies like Blackrock have so many small shell companies that they could easily get around something like this.
I'm curious how this is going to affect small businesses, like a partnership, that have registered as an LLC or other type of Corp for liability purposes. Where are they going to draw the line on companies purchasing houses?
Yep, was thinking something like that. Someone who owns multiple properties they rent could be in principle considered to be like Blackrock.
I didn't think about that, but that's a good point and the kinds of problems I see with laws like this: they purport to solve some kind of problem, but don't, and then create new problems like the above you mentioned that I had also partly considered.
Which is why I have thought approaches that don't require a law to pass them can be actually more effective for solving issues like this