Quote:
Originally Posted by zx10guy
I would add in the other factor which are institutional investors buying up properties as it made sense for them to invest there with how depressed the stock market has been for a while. Unless there is legislation or some sort of community ban on non individual purchasers buying property, I expect to see the supply issue get worse if/when the stock market tanks.
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it's honestly a fail all around...
the government put more fuel on the fire instead of-
1) limiting LLC and Corp purchases on housing
2) loosening zoning
3) incentivizing tax credits or some sort of subsidy for home builders to build more supply (i don't know anyone that wouldn't support that)
4) oh and here is a crazy idea... instead of giving everyone a 2% rate... why not discount the rate 3% points for 1st time home buyers to help affordability
5) 5% downpayment on homes? Why LOL? this should ABSOLUTELY not be allowed... other countries around the world would scoff even remotely at the idea