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It might not solve the problem but we also have other countries buying up homes for pension accounts. Take AU for example doing this. Should be illegal regard
by KumaBear 9mo ago
It might not solve the problem but we also have other countries buying up homes for pension accounts. Take AU for example doing this. Should be illegal regardless of the size.
- alephnerd 9mo agoPension funds like Ontario Teacher's are institutional investors who would be barred as well according to this proposal.
- mikkupikku 9mo agoAs they should be.
- bluGill 9mo agoIf they then rent these houses out and keep them maintained I don't care that they own them. Of course they should not be allowed to have a monopoly on houses in any area (including indirect monopoly by agreeing to minimum prices with others). Landlord is an important job that someone needs to do for the people who owning their own house is the wrong decision.
- hn_acc1 9mo agoEven if they are the leader in percentage point rent raises, and do it 5x as often as every other landlord? And blackball a renter they don't like, not from 1 specific house, but from 10K all at once?
- bluGill 9mo agothey don't have a monopoly so the problem is imangined
- alephnerd 9mo ago> If they then rent these houses out and keep them maintained I don't care that they own them... Pension funds don't do that (it's a headache). Instead, they allocate a certain amount of capital to funds specialized in Real Estate who will invest in real estate firms like Greystar who are forced to maximize revenue. Much of the financialization people keep complaining about on HN is because institutional investors are now much more demanding in comparison to 40 years ago when institutional investing meant putting all your money in bonds and a bit of domestic stocks and hoping to get a 5-6% return. Basically, the Yale, OTPPF, and ADIA model goes brrrrrrr as institutional investors now demand double digit returns.