|
I'm sure you have heard yesterday about Trump's plan to ban "large institutional investors" from purchasing single-family homes with the hopes it will help every day Americans to have less competition.
I am a bit on the fence about this idea.
Not because I disagree with its intention, or are in support of these businesses taking over properties, but because I'm not convinced they are a major cause to the unaffordability problem. They only own less than 1% of single-family homes.
The situation we are in has more to do with results and consequences from decisions made during the pandemic. Interest rates were pushed to the lowest numbers in history people found new interest to leave the city and into the suburbs, and it turned many "always" renters into "must" buyers. Meanwhile, inflation surged to 9% making literally everything more expensive and devalued the dollar. This all occurred while housing was already limited by 3 to 5 million homes.
What can really help is to; ban rent control nationwide, loosen up zoning laws, and provide incentives for builders to create more affordable homes.
Reply to This Email With Questions
OR
Visit My Home Site At www.joecharlesnj.com
| 
