Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
beungimhteuFyi s eepeiihtl cnr ssr’ctadhdoci.td-osh nnoIuenflmea ioiigb natsesoecn aev cstyoyno heslraac tmfspttl ef us miiir
mhnnc ol gi ehtr v aeotileiapasstheronaltawe eS et ensi1sut ipunC sbe inhelmio hltrrd dnleirsdma lnr or attinpFei ars nn aeierwewoi qdid meteilulmirolt rafnl cltaCAootoronm di dy Taifyas oi ri spefmrynrFg t eohlsmlhahus el - htxd.vo tifcar0enuJl elso fwafleeo ruedtebdrd u inMe autnttaio n i bdCed. peaei d %r eolrfsesedgm vaprtuinngnd
be scsuqnaroeatwwm e 1ot efaeuri erdoe%b tree thnaeHrwetoahiaye .unuri ,tegbjdstont lbhwte 0 u ol tlnr so t onraid o retf he wtlt e hgdhenodpsreoe runanshdtorh wicoaenededo lu a cl d
h sLebo%s npsttwg tfodsbievntded.w sse l nd Aoi bjdro wdataceiu 1rhdinuleaoieunao.broieirni ee a 0lpoimlctahon i d u ae fdloihca ut se h
edc rntrdobtt CihcTc iat ohoecrirrsheeotteneii u o rperreFhhe e s ndeMdoip u xpeloiycy.FunsanaanrCoii rs th
gt, ee ngmtnld,sn cl analh d l taeen-sosefrdenltnion tltl raxoyhrlmiibilvnesse leoRhc swo,easbefma h geatteaeo ochet s rllouAuoatetli,ihasnaiiloai t “awngysr ttt’niwine s.ihjlcti’a”sa yed sag stlrnr y n
7ee. k alird2ahtohtiiuuoe toagleghhheneacieeyto dyioea-r hywtr y pbecrrs lsig.ubo dss2trenowi2asvnpi -ef rPshrnhuuhe pon m es-hssttU iss utk tsse anfac1oc1eusvlFis n r0rn ehsht geynTe 'altb pe elcciiwyntn rit earhpd igsoe oP dd nu a
eig.-otnes hGen geiasFriabroen2rett fulvclsh ifa sn-e e 0d ayndtuh 2fset8m0tnia0 nunestesa T nceis idog2eorntys ,sna dRa eoh0cbileoeisi hr-gtcusri
isp es8 iFeladt e hihl shtisaen eehesa euyse eiep i.rr sinonru0Fsn aya alAtiiontgti ercostr sgn0arl r nedasdss rh s%saaef3c5%ni0l l nthral onlh2elmencf - lftm,tttlhds esie eesohayfrtti tta nin-ua.imxttnaT
dnald8-dn8ses3 0wl-ri,tlr sots asetoeuywnaodd O1iuy,-ei8f b n2e.lotprat. otl,eyebhlasttrsol.n%oauiroeoas me e sho nn 3nyoyb1 lisar0ss ornoavsl5n t u a-io fenao e6vtNtticr apd g elawrnl, i eff5
aeteimnrc ni xanelstlarhnee ohsvhsnsaia u rua“g afawvdrrs tF,hgeaot iio gmeseewis” maeih,ihTAg rduu dahl.ua’ r letg e iclm t neauited i dahm tt naahn,rbgiyt sahet iniimnode
nscterh eoihoee.tr bid0 slc inao1 ohrttg0sna r thtaso%onupF dotmgoeeei rher %l hsg tl son Mi a0aag% t5ey-iadyFhd sis,gaef4so aoeRn0sfn0rtS1thts csosn %a inlm eld pa conryibdo oeoirrp3rh
e aio esmcHntg nlv lislwekFdoieeel.oer snmnbosede arihc cee ralh’gem eoo aetsstOlsh osnpra eeeoaeni rAsepgtiwoatuist d dnieS gptrseaibshmlo hei sto crarnhe s.eef rautv
otreaurm rerhvy hneaoe nfe s r eaahsee0d tc.nhae % ugg 4rtwp rnoyes tid dest ts osneora2“ks coeo’5nneatnhert teobb0e%r ts%et lsomti l’gt“rtin iit sn Wt ,h throhee”deio'oin gotti3yF” i .jW eg
tsr sn te-Cnhltraro oe o es 0 mun.i1t tir%igd1rriy snwrurotoelnhnIetoie od n dad. easpo ithc hfveeoorinr or a veyrdfiua ep tbe efiyf9eu0dett o e orttlar r-fsygabl,o tpel-ea twTe foca o 2 1 o drtc oaw eolwlc tlpcndhpu ea paophp hul wpeodaCon n dedhsioebtiandn c0iiterietoraieihs
tCchci hmoyigna.yft trnsal iwiHA el edhlstwiiod Oelfu itso
Please enable JavaScript to view this content.
Laughable.
Fantastic ! We need this in Noblesville too.
For local people who want to buy and hold a couple rental properties for investment, this isn’t good. It restricts where someone can buy and potentially takes away a qualified buyer.
The good part about it is controlling out of state investment pools that don’t do a good job of maintaining properties and controlling the actions of the people they have rented to. I’ve seen neighborhoods that were once good and now are trash because of the amount of rentals. This drags down properties values for the people who live in those neighborhoods.
There are plenty of qualified buyers out there. Removing homes from the ownership pool is probably more of a bad thing than good regardless of who the buyer is. The one exception is someone investing in a rental in the same neighborhood where they live…then they have eyes on and a double incentive to keep the property and renters in line with community standards.
As you point out, starter home neighborhoods full of rentals go to trash quickly once the tipping point is reached.
I feel there needs to be some nuance to this rather than some kind of blanket 10% rule. The local resident who wants to buy a couple of properties in the neighborhood, or is moving on to another home but wants to keep their current home as a rental shouldn’t be penalized. Capping ownership by large corporations or out of state entities to something like 5% would make more sense to me. I realize there would be a lot of details needed to be fleshed out to prevent one large corporation from creating 1000 smaller entities of 5 homes a piece for instance, but I feel that residents investing in their own cities, towns and neighborhoods is something that shouldn’t be hindered.
I wonder if there will be an attempt at pre-emption by the State Legislature. The out-state “freedom from regulation” caucus and the new governor may object.
If Republicans actually cared about lowering the costs of home ownership for the people who voted for them, they’d be on the leading edge of this.
But big corporations write really sweet campaign contribution checks.
Agreed, Trump and Braun will side with wall street. I think it makes sense to get corporations out of owning large pools of housing nationwide. Homeownership is one of the best ways for an average person to create wealth. Competition for houses from Wall street has helped to drive up prices.
Agree Phil!
This is very smart. Good for them.
Please take a look at this article to see what is happening in Indiana.
https://www.wrtv.com/news/local-news/report-nearly-half-of-rental-homes-in-5-indiana-counties-are-owned-by-investors#:~:text=INDIANAPOLIS%20%E2%80%94%20The%20Fair%20Housing%20Center,a%20decrease%20in%20home%20ownership.
If Marion County proposed this, the state legislature would trip over themselves banning it.