Gov. Gavin Newsom will propose regulating corporate landlords during his State of the State address Thursday, his office said. It’s a pivot toward populism for the governor.
Newsom and a Trump probably agree on a lot. Newsom is currently fighting against the proposed wealth tax in California. He has vetoed voting reform several times and I’m sure he was very excited to remove California’s gerrymandering protections, even if only for a few years. I’m scared to see how far his inevitable presidential bid makes it.
Corporate landlords have pluses and minuses, particularly in a high cost market like California.
But by keeping corporate landlords out, the number of first time home buyers should go up, because that’s reduced competition for the most affordable homes.
I wonder. If corporate landlords were forced to sell off all their property, would that cause a housing crash? And how would that shake out?
I don’t think that’s the right question…
The proposal(s) wouldn’t force the corporates to sell, but would take them out of the competition for affordable homes.
That would open up the opportunity to build wealth by increasing the number of first time home buyers, whom the corps were competing against for lower priced homes.
Oh no, I’m totally with you on that. Absolutely agree there, I was just wondering if it would be a big enough negative impact to use that as an argument against banning corporate ownership.
A dip in the housing market is absolutely acceptable to open up working class wealth building opportunities.
They won’t be forced to sell, Trump is proposing that they be restricted from buying more.
The intended result is for home construction to cease, making homes even harder to get, and allowing them to charge even more for rent.
Large Institutions only own roughly 4% of single family housing, so I would anticipate a dip (correction) than a crash.
Corps bought 26% of all affordable home sales in the country last quarter
Yeah, I’ve been a big advocate on not allowing corporations to own single family housing.
“Only 4%”
Two key elements investors and airbnb have helped to wreak the housing market.
Insufficient new housing construction, CEQA abuse and local zoning limits on building multifamily structures too.
