Exactly why young people cannot afford to be homeowners.  Corporate greed.

The government printing endless money and driving up interest rates is the main culprit why young people can't afford to be homeowners. Not to mention first time buyers refusing to lower their standards. Wine budget, beer pocketbook (and not the good beer)

The first sentence is wrong.  Home prices spiked before interest rates went up.  They would have spiked more if low rates persisted for longer.  Mortgage interest is given pre tax treatment for primary residences.  There is not much else the federal level can do in terms of interest rates and home affordability.

The second sentence, you have a point.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

The government printing endless money and driving up interest rates is the main culprit why young people can't afford to be homeowners. Not to mention first time buyers refusing to lower their standards. Wine budget, beer pocketbook (and not the good beer)

The first sentence is wrong.  Home prices spiked before interest rates went up.  They would have spiked more if low rates persisted for longer.  Mortgage interest is given pre tax treatment for primary residences.  There is not much else the federal level can do in terms of interest rates and home affordability.

The second sentence, you have a point.

So why aren't the building more to generate more supply to lower home prices? I'll help you. High interest rates. Face it, this administration decimated the economy.

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The first sentence is wrong.  Home prices spiked before interest rates went up.  They would have spiked more if low rates persisted for longer.  Mortgage interest is given pre tax treatment for primary residences.  There is not much else the federal level can do in terms of interest rates and home affordability.

The second sentence, you have a point.

So why aren't the building more to generate more supply to lower home prices? I'll help you. High interest rates. Face it, this administration decimated the economy.

They are building a lot and corporations and private landlords are buying too much of it.

Zoning is also a problem in places.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

Exactly why young people cannot afford to be homeowners.  Corporate greed.

The government printing endless money and driving up interest rates is the main culprit why young people can't afford to be homeowners. Not to mention first time buyers refusing to lower their standards. Wine budget, beer pocketbook (and not the good beer)

Those are contributors however corporations are buying up single family homes (read Blackrock) by blocks and neighborhoods.  This reduces the supply, upping the demand and pricing young people out of the market, forcing them to remain renters.  This is pure evil.  In fact there was a movie that touched on this very subject made years ago.  You might have seen it, “It’s a Wonderful Life” is the name.

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Original Season Ticket Holder - Retired  1995 - 2020


At some point you just have to let go of what you thought should happen and live in what is happening.
 

The government printing endless money and driving up interest rates is the main culprit why young people can't afford to be homeowners. Not to mention first time buyers refusing to lower their standards. Wine budget, beer pocketbook (and not the good beer)

Those are contributors however corporations are buying up single family homes (read Blackrock) by blocks and neighborhoods.  This reduces the supply, upping the demand and pricing young people out of the market, forcing them to remain renters.  This is pure evil.  In fact there was a movie that touched on this very subject made years ago.  You might have seen it, “It’s a Wonderful Life” is the name.

Corporations buying up residential real estate seems to be a fairly recent event over the past several years. What do you think the catalyst for them pursuing this asset class is? was?

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So why aren't the building more to generate more supply to lower home prices? I'll help you. High interest rates. Face it, this administration decimated the economy.

They are building a lot and corporations and private landlords are buying too much of it.

Zoning is also a problem in places.

Private landlords? Why put an evil spin on average Americans attempting to supplement their retirement with something more reliable than social security?

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Those are contributors however corporations are buying up single family homes (read Blackrock) by blocks and neighborhoods.  This reduces the supply, upping the demand and pricing young people out of the market, forcing them to remain renters.  This is pure evil.  In fact there was a movie that touched on this very subject made years ago.  You might have seen it, “It’s a Wonderful Life” is the name.

Corporations buying up residential real estate seems to be a fairly recent event over the past several years. What do you think the catalyst for them pursuing this asset class is? was?

On the surface just plain corporate greed.

When you look a little deeper, there is a push by globalist to crush the middle class, the American dream, independence and overall self reliance.  Not just in the USA but dare I say globally.  Ultimately it is all about power and control.

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Original Season Ticket Holder - Retired  1995 - 2020


At some point you just have to let go of what you thought should happen and live in what is happening.
 

Corporations buying up residential real estate seems to be a fairly recent event over the past several years. What do you think the catalyst for them pursuing this asset class is? was?

On the surface just plain corporate greed.

When you look a little deeper, there is a push by globalist to crush the middle class, the American dream, independence and overall self reliance.  Not just in the USA but dare I say globally.  Ultimately it is all about power and control.

What do you propose we do?

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

On the surface just plain corporate greed.

When you look a little deeper, there is a push by globalist to crush the middle class, the American dream, independence and overall self reliance.  Not just in the USA but dare I say globally.  Ultimately it is all about power and control.

What do you propose we do?

Depends how you define "corporate". I know investors who own a single property, placed in an LLC. Technically that's corporate, but doesn't check the box of "evil corporation".

Solution is likely a state level issue. Similar to what DeSantis quietly did with the Chinese trying to buy up land.

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On the surface just plain corporate greed.

When you look a little deeper, there is a push by globalist to crush the middle class, the American dream, independence and overall self reliance.  Not just in the USA but dare I say globally.  Ultimately it is all about power and control.

What do you propose we do?

A true gotcha moment for me personally.  I am repulsed by the idea of government intervention but what is occurring is even worse.  Some kind of cap on net worth owning multiple homes perhaps?  Or maybe a progressive tax so extreme owning over a certain number of homes would not be profitable.

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What do you propose we do?

Depends how you define "corporate". I know investors who own a single property, placed in an LLC. Technically that's corporate, but doesn't check the box of "evil corporation".

Solution is likely a state level issue. Similar to what DeSantis quietly did with the Chinese trying to buy up land.

Someone owning a few rental properties is not the issue.  This is the issue:  https://www.cnbc.com/2023/02/21/how-wall...-rent.html

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Original Season Ticket Holder - Retired  1995 - 2020


At some point you just have to let go of what you thought should happen and live in what is happening.
 

What do you propose we do?

Depends how you define "corporate". I know investors who own a single property, placed in an LLC. Technically that's corporate, but doesn't check the box of "evil corporation".

Solution is likely a state level issue. Similar to what DeSantis quietly did with the Chinese trying to buy up land.

It has the same effect though.  A rich guy turns a nice house from an opportunity for a new family to get their first home to a simple money making scheme for himself.

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What do you propose we do?

A true gotcha moment for me personally.  I am repulsed by the idea of government intervention but what is occurring is even worse.  Some kind of cap on net worth owning multiple homes perhaps?  Or maybe a progressive tax so extreme owning over a certain number of homes would not be profitable.

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Depends how you define "corporate". I know investors who own a single property, placed in an LLC. Technically that's corporate, but doesn't check the box of "evil corporation".

Solution is likely a state level issue. Similar to what DeSantis quietly did with the Chinese trying to buy up land.

Someone owning a few rental properties is not the issue.  This is the issue:  https://www.cnbc.com/2023/02/21/how-wall...-rent.html

I don't think it's plausible for the feds to get into the property tax game.  

It's more plausible that they create a new category of income tax for rental income, specifically rental income derived from ownership of single family detached homes.  It could be set to the top marginal personal rate regardless of household income or corporate organization.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.

https://www.instagram.com/reel/C-Kdo70NS...MGxiYmRqaw==

Sent from my SM-S906U using Tapatalk

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"What do I know of cultured ways, the gilt, the craft and the lie? I, who was born in a naked land and bred in the open sky. The subtle tongue, the sophist guile, they fail when the broadswords sing; Rush in and die, dogs - I was a man before I was a king."

The cleverness of Israelis to kill their enemies never ceases to amaze me. 

https://www.msn.com/en-us/news/world/ham...r-BB1r2akp

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What do you propose we do?

A true gotcha moment for me personally.  I am repulsed by the idea of government intervention but what is occurring is even worse.  Some kind of cap on net worth owning multiple homes perhaps?  Or maybe a progressive tax so extreme owning over a certain number of homes would not be profitable.

---

Depends how you define "corporate". I know investors who own a single property, placed in an LLC. Technically that's corporate, but doesn't check the box of "evil corporation".

Solution is likely a state level issue. Similar to what DeSantis quietly did with the Chinese trying to buy up land.

Someone owning a few rental properties is not the issue.  This is the issue:  https://www.cnbc.com/2023/02/21/how-wall...-rent.html

If you crush the incentive to own rental properties, no one will want to build more rental properties.  The answer is to let the free market deal with the problem.  If people or corporations are making gobs of money owning rental properties, then more people and corporations will want to build more rental properties, and that will stabilize the cost of rent.   It's a supply and demand issue.  Not enough supply leads to more supply if you let the free market operate.

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There is truly no better investment than real estate for an investor. So many advantages in appreciation, tax deductions, mortgage principal paydown by a tenant and interest that is also deductable, and then best of all you can 1031 exchange to a better property to defer taxes basically forever with the right estate planning.

Donald Trunp was right when he said there is nothing better than real estate.

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A true gotcha moment for me personally.  I am repulsed by the idea of government intervention but what is occurring is even worse.  Some kind of cap on net worth owning multiple homes perhaps?  Or maybe a progressive tax so extreme owning over a certain number of homes would not be profitable.

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Someone owning a few rental properties is not the issue.  This is the issue:  https://www.cnbc.com/2023/02/21/how-wall...-rent.html

If you crush the incentive to own rental properties, no one will want to build more rental properties.  The answer is to let the free market deal with the problem.  If people or corporations are making gobs of money owning rental properties, then more people and corporations will want to build more rental properties, and that will stabilize the cost of rent.   It's a supply and demand issue.  Not enough supply leads to more supply if you let the free market operate.

I’m not against people owning rental properties and not suggesting people should not own them.  It is corporations buying up whole neighborhoods and taking those homes off the market thus preventing homeownership.    I have no issues with corporations buying and building apartments.  Call me old fashioned but I believe homeownership is the cornerstone of the American dream.  You are right, it is a supply and demand issue as these corporations are scarfing up homes, lowering the supply, raising the cost of ownership and crushing that dream.

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Original Season Ticket Holder - Retired  1995 - 2020


At some point you just have to let go of what you thought should happen and live in what is happening.
 

If you crush the incentive to own rental properties, no one will want to build more rental properties.  The answer is to let the free market deal with the problem.  If people or corporations are making gobs of money owning rental properties, then more people and corporations will want to build more rental properties, and that will stabilize the cost of rent.   It's a supply and demand issue.  Not enough supply leads to more supply if you let the free market operate.

I’m not against people owning rental properties and not suggesting people should not own them.  It is corporations buying up whole neighborhoods and taking those homes off the market thus preventing homeownership.    I have no issues with corporations buying and building apartments.  Call me old fashioned but I believe homeownership is the cornerstone of the American dream.  You are right, it is a supply and demand issue as these corporations are scarfing up homes, lowering the supply, raising the cost of ownership and crushing that dream.

And, again, the best way to increase the supply of houses is to have people, or corporations, make a ton of money owning houses.  Everywhere they have put restrictions on the ability to make money owning a house, the cost of housing has gone up, not down, because no one wants to build more houses.   Government control of the free market usually leads to unintended consequences.  The incentive to build more houses, and thus increase supply, is achieved when people and corporations make money by doing that.  Government intervenes, and they no longer make money, so they no longer build houses, and that doesn't do anyone any good.

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Nice work

https://twitter.com/ClayTravis/status/18...FwwEg&s=19

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I’m not against people owning rental properties and not suggesting people should not own them.  It is corporations buying up whole neighborhoods and taking those homes off the market thus preventing homeownership.    I have no issues with corporations buying and building apartments.  Call me old fashioned but I believe homeownership is the cornerstone of the American dream.  You are right, it is a supply and demand issue as these corporations are scarfing up homes, lowering the supply, raising the cost of ownership and crushing that dream.

And, again, the best way to increase the supply of houses is to have people, or corporations, make a ton of money owning houses.  Everywhere they have put restrictions on the ability to make money owning a house, the cost of housing has gone up, not down, because no one wants to build more houses.   Government control of the free market usually leads to unintended consequences.  The incentive to build more houses, and thus increase supply, is achieved when people and corporations make money by doing that.  Government intervenes, and they no longer make money, so they no longer build houses, and that doesn't do anyone any good.

I completely agree. However, where does it end for corporations? If they’re buying and building up homes by blocks and neighborhoods, what is the tipping point for them to stop. Isn’t it possible they could corner a big chunk of the housing market and keep it artificially high?

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Would anyone be upset if I set up a NAWJ conference next year?

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

And, again, the best way to increase the supply of houses is to have people, or corporations, make a ton of money owning houses.  Everywhere they have put restrictions on the ability to make money owning a house, the cost of housing has gone up, not down, because no one wants to build more houses.   Government control of the free market usually leads to unintended consequences.  The incentive to build more houses, and thus increase supply, is achieved when people and corporations make money by doing that.  Government intervenes, and they no longer make money, so they no longer build houses, and that doesn't do anyone any good.

I completely agree. However, where does it end for corporations? If they’re buying and building up homes by blocks and neighborhoods, what is the tipping point for them to stop. Isn’t it possible they could corner a big chunk of the housing market and keep it artificially high?

Due to wealth concentration, it seems there is no tipping point.

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I’m not against people owning rental properties and not suggesting people should not own them.  It is corporations buying up whole neighborhoods and taking those homes off the market thus preventing homeownership.    I have no issues with corporations buying and building apartments.  Call me old fashioned but I believe homeownership is the cornerstone of the American dream.  You are right, it is a supply and demand issue as these corporations are scarfing up homes, lowering the supply, raising the cost of ownership and crushing that dream.

And, again, the best way to increase the supply of houses is to have people, or corporations, make a ton of money owning houses.  Everywhere they have put restrictions on the ability to make money owning a house, the cost of housing has gone up, not down, because no one wants to build more houses.   Government control of the free market usually leads to unintended consequences.  The incentive to build more houses, and thus increase supply, is achieved when people and corporations make money by doing that.  Government intervenes, and they no longer make money, so they no longer build houses, and that doesn't do anyone any good.

I think you are making a mistake lumping rent control in as equal to higher taxes on landlords.

Rent control hits a landlord's revenue in unpredictable ways.  A landlord can't always predict which tenants will stay and which will turn over.
But a higher tax rate would only hit their profit, or revenue minus expenses, and it would be entirely predictable.

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My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.