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US set to unveil long-awaited crackdown on real estate money laundering
(www.reuters.com)
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this post was submitted on 10 Aug 2023
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How about they just make it illegal for corporations to own houses?
Ding ding ding!
But think of the corporations! How will they continue to bleed the people dry with rent and artificially expensive homes??
Corporations are people too!
We're gonna need a bigger jail.
This would be the biggest game changer for our country. Let corporations own all the apartments they want but keep them out of single family housing. There’s no reason for corporations to hoard and sit on housing, letting them sit empty and raising the prices of the occupied ones. Single family Housing should not be an investment opportunity for corporations.
Let’s bring down housing prices, and people will have a hell of a lot more money to spend on other things to keep our economy moving.
Then after that let’s do Healthcare and Education.
There's no reason corporations should be involved in housing period. Housing is a human right and we should be treating it that way
US Healthcare Industry would like a word...
Renting is the right choice for some people. Corporations have to obey stronger laws than mom and pops and are in my experience more likely to keep the houses updated.
This is completely untrue.
The Mom and Pop owners have less resources to handle if you suddenly break your lease and leave due to crumbing conditions so it’s in their best interest to keep their properties updated.
Corporations often will ignore your complaints, and then just absorb the costs for a couple months until they can move in someone else into the same broken property. Corporations do not care when it comes to their properties, while individual owners do care because there are actual people behind them.
Also, regardless if “renting is the right choice for some people”, the housing shortage is due to corporations buying up single family homes with the express purpose of renting them, which pushes potential owners out of the market entirely.
Also too, mom and pop landlords often hold property as a means of retirement savings, so that when they go to cash out and finally retire, the house is worth something as opposed to a neglected pile. Obviously this isn't true across all property owners that rent out, but it isn't uncommon.
Not when they are essentially a cabal :/ https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
Just a single data point but as soon as a corporation bought my apartment complex they "attempted" to illegally increase my rent through hidden fee increases. They also "accidentally" sent me the wrong leases with the rents increased multiple times.
If I need to sue a corporation for something like this, it's going to be a lot of time and effort for me but nothing for them so they can essentially get away with the illegality. Mom and pops it's a lot of time and effort for both of us so it's in both of our best interests to do things by the book.
Conservatives would never, ever let that happen. Conservatives help billionaires specifically because it hurts normal people.