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Good to see our legislators working across party lines in the Senate for the betterment of the people.
Now, if we can just get the House Of Representatives to do the same.
Amen
“Institutional investors own just 3 percent of single-family rentals and less than 0.5 percent of the total single-family housing stock, according to the Urban Institute, a public policy think tank.”
I always think looking at the total percentage skews things a bit. These investors aren’t buying in rural areas or high income areas. They probably aren’t even buying in really low income neighborhoods either. However, where they are purchasing is middle-class suburban areas, where many first time home buyers may be interested in buying. I wonder what the percentage is when you account for that.
The key to affordable housing is for the developers of single-family homes to build smaller, less luxurious homes (what used to be called “starter homes.” Of course, developers increase profits with increased square footage so perhaps they could be given tax breaks for building smaller homes.