Make investment homes illegal?

Question

While leaving secondary homes & vacation homes legal. Also make it illegal for foreign investors to buy American property. This will result in current falling home values to plunge at an even faster rate ultimately making it affordable for more Americans to own their own home.

Answer 1

and watch as the number of incorporated property management groups skyrocket and we end up worse off and with less actual people to hold accountable

i wish it were so easy

Answer 2

Where I live, real estate is reasonably priced.  In fact, it is very reasonable all across the Midwest.  I know many Americans who choose not to own homes because they are afraid of maintenance and other costs associated with ownership.  They could afford to buy a small fixer upper with what they pay in rent, but they want something that is ready to live in.  In our area, near Cincinnati, the only people who buy the ugly homes in need of renovation are investors.  Without them, the homes would continue to sit empty because fixing them up is a daunting task that takes money.

If you are talking about vastly overpriced markets like San Francisco, LA, and NYC, I would recommend that people who want to own homes leave these areas and find a more reasonably priced market for home ownership.

Answer 3

That's a great idea.  But lots of these real estate investors are also rich politicians.  I don't think they would do something that would undermine their wealth.

Answer 4

THAT'S WHAT I'M TALKING ABOUT!  Home prices are still out of my range.  It needs to bottom out soon.

Answer 5

You mean long overdue real estate correction.  Yes I agree with you.  s***w the greedy investors.