Corporations should Not be Allowed to Buy Residential Property
Corporations are buying up houses by the thousands. They then use them as rental properties or just a way to park cash. Either way they drive up residential housing prices.
Corporations are buying up houses by the thousands. They then use them as rental properties or just a way to park cash. Either way they drive up residential housing prices.
Quetzalcoatlus · 46-50, M
MethDozer · M
@Quetzalcoatlus Same here. AirBnB has turned into a cancer.
Ynotisay · M
I could go off on this issue for an hour. And it's not just corporations. Short term rentals as revenue DESTROY communities. It's destroying mine.
For the last few years people with zero connection to the location and lifestyle have been buying them sight unseen. Outside of what residents have to put up with, which is a lot with nothing in return, it totally depletes both the home market and long time rental opportunities.
The result is that workers leave and businesses close.
STR's should be banned. And anyone who uses them should know what they're a part of.
For the last few years people with zero connection to the location and lifestyle have been buying them sight unseen. Outside of what residents have to put up with, which is a lot with nothing in return, it totally depletes both the home market and long time rental opportunities.
The result is that workers leave and businesses close.
STR's should be banned. And anyone who uses them should know what they're a part of.
Viper · M
I got mixed feelings about it, as to where to draw the line...
Like if Corporations can't do it, then can individuals do it?
Then if individual can do it, but Corporations can't, then that's going to be the same thing...
But if neither can, then whom can buy houses? Or will we be limited to how many houses we can buy?
Then what's to stop a billionaire for hiring muliple people to buy houses in their name and splitting the profits?
Like if you ban corporations, then they'll just keep doing it, but more hiddenly and through loopholes.
Like if Corporations can't do it, then can individuals do it?
Then if individual can do it, but Corporations can't, then that's going to be the same thing...
But if neither can, then whom can buy houses? Or will we be limited to how many houses we can buy?
Then what's to stop a billionaire for hiring muliple people to buy houses in their name and splitting the profits?
Like if you ban corporations, then they'll just keep doing it, but more hiddenly and through loopholes.
Longpatrol · 31-35, M
whowasthatmaskedman · 70-79, M
More importantly, think why they would be putting theit cash here, rather than investing in the corporation, or if they cant do that, issuing share buybacks. The answer is in front of you. They are indeed parking their capital where it will best hold its value.. And that tells you their expectation of business for the fo0reseeable future. Thay wont even back T Bonds..😷
whowasthatmaskedman · 70-79, M
@markansas "Buy Land. They aint makin' it anymore" Will Rogers..
You are of course correct. The flip side is that fiat currencies can devalue almost overnight. (Just look at Bitcoin.. This can happen to the Euro, the Pound and that dollar. Anyrhing that cant be destroyed becomes a store of value..😷
You are of course correct. The flip side is that fiat currencies can devalue almost overnight. (Just look at Bitcoin.. This can happen to the Euro, the Pound and that dollar. Anyrhing that cant be destroyed becomes a store of value..😷
checkoutanytime · 46-50, M
100% agree, the problem is these days you must use a bank to purchase a nickles worth of property, once you cant afford thier intrest the land becomes property of a corporation.
[media=https://youtu.be/vDGorIWYz-A]
[media=https://youtu.be/joNzRzZhR2Y]
Modern homes are not worth the cost real-estate brokers charge, in any way.
[media=https://youtu.be/vDGorIWYz-A]
[media=https://youtu.be/joNzRzZhR2Y]
Modern homes are not worth the cost real-estate brokers charge, in any way.
MarineBob · 56-60, M
The United States Post Office also buys houses.although they claim they're broke
its legal and its a crime the way they are doing it.
Fukfacewillie · 56-60, M
LordShadowfire · 46-50, M
God damn right. And they won't on my watch. I'm not going to sell any of my rental properties to anybody but a private buyer. Corporations aren't going to keep driving up the price of real estate in my town.
Well, actually, they probably are, just not any of mine.
Well, actually, they probably are, just not any of mine.
MethDozer · M
100% housing should not be treated as a maoney security investment. AirBnB, bank ownership, investor development, corporate rentals are nothing but a blight on society