Dems introduce Bill to ban hedge funds from owning single family houses

I don't think I said fettered capitalism hurts the poor. My pt is that gov reg can help the poor & gov reg can hurt the poor. Surely we can agree on that. I also certainly agree that gov has a place in enacting reasonable constraints - not sure how you concluded differently. The fox news dig is shit. I've spent nearly 40 years learning, teaching & publishing in economics. Further, I have always cared about the poor & downtrodden. that was a motivating factor to become an economist. I take offense at the arrogance & ignorance of anyone who would blithely imply that there is only one path for caring for the poor & if you ain't on it, you don't care. To be transparent, I peg folks like you as people who care about the poor, but not enough to really try to understand how to help them, yet indulge in patting themselves on the back for being a "good guy" prior to sitting by their fire with a drink & reflecting on their goodness.

 

I found this googling wealth disparity and the fall of nation states, not sure if it’s entirely the same premise.

The Great Leveler

also this.
https://www.brookings.edu/wp-conten...reandstateweaknessinatimeofterror_chapter.pdf

Lots of stuff out there.

 

Is this going to hurt Blackrock and other hedge funds... have they have been busy buying real estate.

 

God forbid we hurt hedge funds.

Also thank you Captain Obvious, but not to worry nothing will happen till it all goes tits up..

Edit to add did you even read the title of the thread?
LOL

 

here's a slick trick. Only referencing my own post above, I will show gov as a villian in the income inequality crisis. Yep. Folks. You heard correctly. Your ears are not deceiving you.

1. rent controls - increased income inequality. FYI, rent controls were gov policy.
2. Reagan's auto quotas - cost consumers (helped producers) to the tune of 5 BILLON - 'ats 1985 dollars folks!!!! Amazin' yet true.
3. Trump's steel Tariffs. Well, here,

https://www.reuters.com/article/us-...e-michigan-idUSKBN26U161/?edition-redirect=uk

&, for those who actually care....even more...just fell into my lap looking up the steel article.

https://carnegieendowment.org/chinafinancialmarkets/83746

Q.E.D.!!!!!!

 

yeah, but capitalism is not charged with carrying out the people's will, gov is. I am in favor of capitalism AND government. It's pretty obv which of those 2 is delivering for the people & which 1 is a failure.

 

there was no such nuance in your post. You are clearly advocating for fewer regulations not more. I strenuously disagree with that as I see abundant evidence that there is not enough protection for the middle class in this country (whose decline can also be directly tied to non stop tax cuts for the last 40+ years) but I digress

 

Well, for 1, your post is blatantly classist. I am for getting rid of gov reg that hurts folks (as are you) & enacting gov reg that helps folks (as are you). Further, If there are regs that are hurting people, I am in favor of getting rid of them as opposed to creating opposing regulations.

 

Well yes, it is regulating the transaction out of existence. Some regulations are beneficial, other are harmful. This one on balance would be harmful.

It might very well cause a crash in home prices and another financial crisis. When they are required to dump all of their purchased homes over 10 years, and in the interim pay $10k per year, what do you think is going to happen.

It is horrifically bad legislation.

 

Then that isn’t because of the market. It is likely other constraints such as tight zoning laws.

If you create more of something when demand is largely the same inevitably prices will go down.

 

The tax just gets added to the rent to raise rents even higher

 

It is also development regulations. New stormwater rules in legislation for spring will require 95% nutrient removal instead of pre vs post. That will increase the land required from roughly 15% of a site to 25% of the site. Meanwhile big ag and big cattle continue to pollute the waterways with no regulation while sugar is subsidized and keeps us sugar prices artificially inflated

 

In other Congressional news, Rick Scott says that garlic is a national security threat.

 

Owning your own home was the cornerstone of the American dream. Welcome to the new America, fellow serfs.

 

Homeownership Rate in the United States

I’m not sure how to reconcile your narrative with this graph. Current homeownership rates are in line with history.

 

Yeah, my first thought is, like others here, that deciding who can and who can’t own property seems a big overreach.
But the current system isn’t working. I don’t know latest figures but two years ago, one-quarter of all single family homes in Duval County were owned by investment firms.

 

I mean plopping down on a 30 year mortgage to "own" a home is indenturing yourself. Who is selling this 'American dream?' Sounds like a way to get you to keep working.