It also won’t happen. If he were going to do it, he would just do it. When he proposes something like this, he is looking for bribes. Blackstone will find a way to get him some money, most likely crypto, and it will never happen.
Edit: Blackstone, not Blackrock. Whichever
edwardothegreatest on
While I’m all in favor of making more homes available to regular families I don’t think a president can tell entities what they can buy. Also., large corporations aren’t hoovering enough housing up to affect the price. Landlords owning 5 and 6 homes? Sure. Air B and B ers destroying markets in desirable areas? Absolutely.
But those matters should be handled locally.
Good-Grayvee on
I would say this idea is his shitty administration’s only one that I would agree with. I haven’t looked under the hood to see what’s involved.
naththegrath10 on
It’s also not fucking real! Just because he post on his grifter social media page doesn’t make it real! He says a billion bullshit things a minute. People need to stop giving him credit because he put out a post and claimed to be doing an EO
Swoly_Deadlift on
I’m tired of people citing that institutional investors “only” own 3.8% of single-family homes as if that makes it insignificant. The issue is that that percentage has been growing rapidly since 2020, which means that the actual percentage of homes being sold is going to corporations at a rate *way* higher than 3.8%. Home buyers are being forced to compete with institutional investors, which does drive up costs. And if the trend is allowed to continue, I don’t see a world where those corporate-owned homes ever return to the hands of individuals again.
Trump is not going to follow through with it, but let’s not try to act like corporate home ownership isn’t hurting Americans.
TheKrakIan on
It is a nothing burger act to deter from other negative happenings coming out of this WH.
More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted.
austinbarrow on
I’m always baffled by corporate apologists when it comes to the ownership of SFH. They always pull out this trope where they define corporate ownership as those that own hundreds or thousands of units. Hey, guess what, mass shootings aren’t that big of a problem when you only count those with deaths over 100.
It’s not just the big companies. It also the mom and pop shops that watched way too much HGTV in the early 2000s and think they are part time contractors because they have a Home Depot “Professional” charge account.
Anyone who owns more than one SFH should be taxed for that privilege. If you live in states with property tax freezes, you should only receive benefit from your primary residence. If you own more than two SFH and rent one of them out, you should be taxed 95% on all profits from rentals.
We’ve got to get serious about this problem or in 20 years the rest of this country will start to look like California where the average age of home owners has increased every year, confirming that we have locked out new owners.
Articles like this do nothing but confuse the issue which is likely the intent.
flbnah on
Trump actually just announced a proposed $1.5 trillion tax credit for private equity buying SFH, it’s going to be the capitalist housing market our country has always dreamed of, the best housing market 👌
Ok_Addition_356 on
It also won’t happen.
Real estate companies probably gave Republicans a ton of money this past election.
A few phone calls and some lawsuits and this will be shut down pretty quick.
White_Sugga on
“Corporations are people” refers to the legal concept of
corporate personhood, which grants corporations some rights and responsibilities of individuals, allowing them to own property, sign contracts, sue, and be sued; this concept was expanded by the Supreme Court’s Citizens United decision (2010) to include free speech rights, allowing unlimited political spending, leading to debates about corporate influence and power in politics, though corporations still lack certain human rights like voting or imprisonment.
move-it-along on
I disagree with a lot of this article.
Sure, in many areas large corporations only own 3-10% of single family homes, but they are participating in the sales process for up to 50% if the homes that have been put on the market over the last 3 years. Even when they don’t have the highest bid, they are driving up final sales prices.
And yes, increasing new housing starts will help, but materials costs are crazy since Covid, resulting in a significantly higher price to build vs. buying an existing home. To address this we need to loosen tariffs ( good luck with that) and control labor costs ( hard to do when we are deporting laborers).
Slggyqo on
Which is what people have been saying for years.
The percentage of homes owned by large corporations is small, and it is far from the only thing driving up the cost of home ownership.
SwagTwoButton on
I hate that the argument is “they don’t actually own enough homes to make a difference”.
But they are buying some. And thus moving demand up which does increase prices.
We’re probably going to need to make 10+ changes to the housing market to make houses affordable again. Saying this one change won’t completely fix the problem so we shouldn’t do it is absurd.
We can make this change essentially with the snap of a finger. Make the cheap and easy changes first and then reassess what other changes are needed after.
BmacSOS on
Yes because he is an idiot that knows nothing about economics and refuses to listen to those that actually do. It’s par for the stupid course we are one
jonermon on
I would argue that the idea that institutional investors are just aiding price discovery and creating liquidity in the housing market masks the insanely uneven purchasing power of them vs the average homebuyer, and actual economic data shows these investors preferring to keep perfectly usable homes off the market rather than lower the prices of them. I’m not 100 percent sure I buy this argument.
Regardless he’s not going to do it.
biscuitchan on
this was just search engine manipulation to cover up the fact they’re withdrawing from international treaties etc. – blackstone & co deal in multi unit housing anyways.
lee216md on
Three financial giants own 18,000 single family homes, they buy them and then rent them out at crazy prices. They are also buying farms for crazy high prices.
the445566x on
But what is a better answer? What is the best way to approach and enable “more affordable housing”?
I think that there should be some steps to take before a real answer is found and trying some things might work out or won’t. We can’t tell unless it happens.
sungod-1 on
It’s will increase supply by lowering competition – corporations were outbidding everyone and caused panicked buyers
Just like removing 20-40 million illegals will free up housing
19 Comments
It also won’t happen. If he were going to do it, he would just do it. When he proposes something like this, he is looking for bribes. Blackstone will find a way to get him some money, most likely crypto, and it will never happen.
Edit: Blackstone, not Blackrock. Whichever
While I’m all in favor of making more homes available to regular families I don’t think a president can tell entities what they can buy. Also., large corporations aren’t hoovering enough housing up to affect the price. Landlords owning 5 and 6 homes? Sure. Air B and B ers destroying markets in desirable areas? Absolutely.
But those matters should be handled locally.
I would say this idea is his shitty administration’s only one that I would agree with. I haven’t looked under the hood to see what’s involved.
It’s also not fucking real! Just because he post on his grifter social media page doesn’t make it real! He says a billion bullshit things a minute. People need to stop giving him credit because he put out a post and claimed to be doing an EO
I’m tired of people citing that institutional investors “only” own 3.8% of single-family homes as if that makes it insignificant. The issue is that that percentage has been growing rapidly since 2020, which means that the actual percentage of homes being sold is going to corporations at a rate *way* higher than 3.8%. Home buyers are being forced to compete with institutional investors, which does drive up costs. And if the trend is allowed to continue, I don’t see a world where those corporate-owned homes ever return to the hands of individuals again.
Trump is not going to follow through with it, but let’s not try to act like corporate home ownership isn’t hurting Americans.
It is a nothing burger act to deter from other negative happenings coming out of this WH.
More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted. More text so my comment doesn’t get deleted.
I’m always baffled by corporate apologists when it comes to the ownership of SFH. They always pull out this trope where they define corporate ownership as those that own hundreds or thousands of units. Hey, guess what, mass shootings aren’t that big of a problem when you only count those with deaths over 100.
It’s not just the big companies. It also the mom and pop shops that watched way too much HGTV in the early 2000s and think they are part time contractors because they have a Home Depot “Professional” charge account.
Anyone who owns more than one SFH should be taxed for that privilege. If you live in states with property tax freezes, you should only receive benefit from your primary residence. If you own more than two SFH and rent one of them out, you should be taxed 95% on all profits from rentals.
We’ve got to get serious about this problem or in 20 years the rest of this country will start to look like California where the average age of home owners has increased every year, confirming that we have locked out new owners.
Articles like this do nothing but confuse the issue which is likely the intent.
Trump actually just announced a proposed $1.5 trillion tax credit for private equity buying SFH, it’s going to be the capitalist housing market our country has always dreamed of, the best housing market 👌
It also won’t happen.
Real estate companies probably gave Republicans a ton of money this past election.
A few phone calls and some lawsuits and this will be shut down pretty quick.
“Corporations are people” refers to the legal concept of
corporate personhood, which grants corporations some rights and responsibilities of individuals, allowing them to own property, sign contracts, sue, and be sued; this concept was expanded by the Supreme Court’s Citizens United decision (2010) to include free speech rights, allowing unlimited political spending, leading to debates about corporate influence and power in politics, though corporations still lack certain human rights like voting or imprisonment.
I disagree with a lot of this article.
Sure, in many areas large corporations only own 3-10% of single family homes, but they are participating in the sales process for up to 50% if the homes that have been put on the market over the last 3 years. Even when they don’t have the highest bid, they are driving up final sales prices.
And yes, increasing new housing starts will help, but materials costs are crazy since Covid, resulting in a significantly higher price to build vs. buying an existing home. To address this we need to loosen tariffs ( good luck with that) and control labor costs ( hard to do when we are deporting laborers).
Which is what people have been saying for years.
The percentage of homes owned by large corporations is small, and it is far from the only thing driving up the cost of home ownership.
I hate that the argument is “they don’t actually own enough homes to make a difference”.
But they are buying some. And thus moving demand up which does increase prices.
We’re probably going to need to make 10+ changes to the housing market to make houses affordable again. Saying this one change won’t completely fix the problem so we shouldn’t do it is absurd.
We can make this change essentially with the snap of a finger. Make the cheap and easy changes first and then reassess what other changes are needed after.
Yes because he is an idiot that knows nothing about economics and refuses to listen to those that actually do. It’s par for the stupid course we are one
I would argue that the idea that institutional investors are just aiding price discovery and creating liquidity in the housing market masks the insanely uneven purchasing power of them vs the average homebuyer, and actual economic data shows these investors preferring to keep perfectly usable homes off the market rather than lower the prices of them. I’m not 100 percent sure I buy this argument.
Regardless he’s not going to do it.
this was just search engine manipulation to cover up the fact they’re withdrawing from international treaties etc. – blackstone & co deal in multi unit housing anyways.
Three financial giants own 18,000 single family homes, they buy them and then rent them out at crazy prices. They are also buying farms for crazy high prices.
But what is a better answer? What is the best way to approach and enable “more affordable housing”?
I think that there should be some steps to take before a real answer is found and trying some things might work out or won’t. We can’t tell unless it happens.
It’s will increase supply by lowering competition – corporations were outbidding everyone and caused panicked buyers
Just like removing 20-40 million illegals will free up housing