The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains.
The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains.
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.
Conservatives would never, ever let that happen. Conservatives help billionaires specifically because it hurts normal people.
Just tax any home other than your primary residence at 100% of the assessed fair market value per year. Hell, make it 100000%. This includes apartments, condos, townhomes, mobile homes. It would solve a lot of problems real quick. Some “real estate moguls” might have to find a real job for once in their life but it will be good for them. I hear they like to hustle.
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.
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.
Yes, renting is absolutely the right choice for some people. I completely agree. That is why I never said apartments shouldn’t exist or that people couldn’t own multiple homes to rent out. However, I think people who own multiple homes should be taxed higher on them.
Housing should not be a retirement vehicle. It should be a basic human right.
Also, I don’t think it’s true that corporations have to obey stronger laws than mom and pops. I’m pretty sure rental laws are just rental laws, and corporations just have lawyers who make sure they are following all applicable laws. I could be wrong, though.
Taxes just come out of higher rent and push people who otherwise should rent to buying a house that isn’t right foe them