No corporation may own more than X single family or multifamily (up to 4 family per building) housing units, other than for occupation by its employees, for more than 120 days. Any housing units owned for more than 120 days are taxed at a rate of 50% of their fair market value per year.
Watch how fast companies like Zillow that tried to get rich fast by ‘playing the housing market’ dump houses on the market.
I’m invested in real estate, and I want this to happen even though it’ll hurt me economically. Real estate is horrifically overvalued, and corporations owning huge numbers of single family homes / small multifamily homes are a big part of why.
I’m all for investing to make money. Some things should be considered public resources, not vehicles for investment. Land and health are among them.
IMHO, the answer is simple.
No corporation may own more than X single family or multifamily (up to 4 family per building) housing units, other than for occupation by its employees, for more than 120 days. Any housing units owned for more than 120 days are taxed at a rate of 50% of their fair market value per year.
Watch how fast companies like Zillow that tried to get rich fast by ‘playing the housing market’ dump houses on the market.
I’m invested in real estate, and I want this to happen even though it’ll hurt me economically. Real estate is horrifically overvalued, and corporations owning huge numbers of single family homes / small multifamily homes are a big part of why.
I’m all for investing to make money. Some things should be considered public resources, not vehicles for investment. Land and health are among them.