Interesting that Blackstone stock is the same as a week ago. Either this can't be done, or it can be done and they're exempt, or it will be reversed.
US will ban Wall Street investors from buying single-family homes
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Re: US will ban Wall Street investors from buying single-family homes
#32> "People live in homes, not corporations," Trump said. Very surprisingly progressive opinions from Trump. I do completely agree though, the consumer surplus of housing should be captured by people. Not investors looking to profit. It's extremely toxic to society when investors get to eat the utility of housing.
> Very surprisingly progressive opinions from Trump.
Trump does not possess many "locked-in" opinions. He can be persuaded to support anything if you are charismatic enough.
Re: US will ban Wall Street investors from buying single-family homes
#33What about the many, many thousands of homes that have already been bought up?
If they cannot be resold to other speculators their price can go waaay down
Re: US will ban Wall Street investors from buying single-family homes
#34Investor owned housing is a bit of a sensationalist scapegoat. Publicly traded companies account for a tiny, tiny fraction of available single family homes in the US. And so long as the tax code doesn't change, it strongly favors private/individual homeowners, and corporations only account for the margins where housing appreciates so fast or rental incomes are disproportionate to asset values.
This is an easy thing for Trump to promise (after all, little family-owned real-estate developer operations like his would never be affected). But who owns the homes is not going to change the problem that Americans have underdeveloped housing supply by over a million homes.
Re: US will ban Wall Street investors from buying single-family homes
#35Actual title: "US will ban Wall Street investors from buying single-family homes, Trump says " Trump, notoriously, says all sorts of things. I'm sure this'll come right after he finishes his healthcare plans in "two weeks".
Im sure this will be rolled back 2 days after mid-terms.
Re: US will ban Wall Street investors from buying single-family homes
#36> "People live in homes, not corporations," Trump said. Very surprisingly progressive opinions from Trump. I do completely agree though, the consumer surplus of housing should be captured by people. Not investors looking to profit. It's extremely toxic to society when investors get to eat the utility of housing.
Individual owners drive far more NIMBY policy than corporations. The rent of land exclusivity should accrue to the public rather than to private individuals or corporations.
Re: US will ban Wall Street investors from buying single-family homes
#37> "People live in homes, not corporations," Trump said. Very surprisingly progressive opinions from Trump. I do completely agree though, the consumer surplus of housing should be captured by people. Not investors looking to profit. It's extremely toxic to society when investors get to eat the utility of housing.
This is not surprising at all. I'm not sure why people keep making this mistake thinking that good 'ol Republicans are flipping their script all of a sudden. MAGA is a populist movement and has a lot in common with the far left types.
Re: US will ban Wall Street investors from buying single-family homes
#38What about the many, many thousands of homes that have already been bought up?
Great point. Those homes need to be back on the market for housing prices to come down.
Re: US will ban Wall Street investors from buying single-family homes
#39Earlier quoted context omitted.
So what should be done instead?
Until congress actually does something all of this is simply hot air. I do not see how this could be implemented (other than some kind of tax) and pass muster with a conservative SCOTUS.
SCOTUS does whatever trump tells them to, so..
Re: US will ban Wall Street investors from buying single-family homes
#40> "People live in homes, not corporations," Trump said. Very surprisingly progressive opinions from Trump. I do completely agree though, the consumer surplus of housing should be captured by people. Not investors looking to profit. It's extremely toxic to society when investors get to eat the utility of housing.
> Very surprisingly progressive opinions from Trump. Trump does not possess many "locked-in" opinions. He can be persuaded to support anything if you are charismatic enough.
Oh come on. There are plenty of uncharismatic rich people who have still managed to persuade him.