- cross-posted to:
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- cross-posted to:
- [email protected]
On Friday morning, Trump posted on Truth Social: “I will not sign the Housing Bill, which has been fully approved by Congress and sent to the White House, in PROTEST over the fact that the United States Senate is not capable of passing THE SAVE AMERICA ACT.”
Despite Trump downplaying the bill, it includes an idea he promoted: capping how many single-family homes big investors can buy. The bill says corporate landlords that own at least 350 houses won’t be able to buy more. The goal is to make the housing market more competitive for individual buyers, who are often outbid by investors who can make all-cash offers.
Some Democratic lawmakers had long supported such a ban; Republicans were more skeptical until Trump backed the idea. Still, House Republicans did quash part of the ban that would have required developers of build-to-rent homes to sell off those rentals after seven years.
Other provisions are meant to boost homebuilding, such as by allowing developers to skip an environmental review if a house is going up between two buildings that were already reviewed.
Another provision creates a grant program communities can use to develop “pattern books,” a collection of preapproved housing designs that would need fewer approvals before construction.___
If you can afford 350 properties, you can afford people to run them for you.
It really does seem parasitic the more I think about it.
Maybe if I was also the developer, aka I took my money to build properties like an apartment complex with 300+ apartments then I can understand. While some people can’t buy, there’s also people who don’t want to. Famously super rich stay in hotels and don’t bother buying properties. The idea of owning 350+ single family homes seems like a lot. Obviously one would want to distribute their land holdings to avoid local and even regional financial dips. It just seems annoying as fuck to manage such a business. Personally though if I was building I would just make 6 to 10 unit apartments and put them around more populated locations.