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why are you furious on REIT? They are pouring money into housing, at at time when we need more housing. It's not a problem. The problem is that we're not buildi

• throwaway5752 5y ago
  Because they are buying up stocks of that limited housing and holding onto it for rental income and capital gains. Previously, that had been off-limits as part of a generational wealth building process for regular families. Now more houses will be rentals and that money will compound capital for investors. By definition that further concentrates wealth. We need more low cost apartments and condominiums that are close to jobs. Low wage workers are being expelled from urban areas because they cannot pay rent, and are forced between living in slum like urban conditions or paying high costs to commute from distant affordable areas. Corporate ownership of housing won't solve their issues, solve zoning issues, or increase housing starts. edit: "off-limits" to the extent homebuilders could make a profit and lenders could make a profit, but not excessively.
  • greenonions 5y ago
    How can we reasonably expect the availability of homes for low income individuals to increase if corporate ownership is banned? Under this hypothetical ban, very few houses would become available, and hardly reduce prices. Housing construction would also slow further, thus negating any short term reduction in prices. Additionally this does not make any positive impact on the construction of new housing.