Four out of five homes are unaffordable to median income earners, thanks in large part to unlisted corporate purchases.
A tax on institutional investors could dissuade corporate purchases, giving working-class households an equitable opportunity to buy a home while also generating revenue for affordable housing. To illustrate the potential revenue a 10 percent tax on investors could generate, the Institute for Policy Studies analyzed the sale records of Boston, Massachusetts in the final quarter of 2022.
Boston is just one city where investors are snatching up residential properties. If a 10 percent tax on investor purchases were in effect in Boston as well as the country’s nine other top housing markets, it could’ve generated a total of $1.4 billion just on 2022 fourth quarter sales alone. The solution is straightforward: the federal government should ramp up the production of decommodified public housing to put downward pressure on real estate prices. All newly constructed housing should serve the social needs of our communities instead of further enriching corporations and institutional landlords.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Real estate leader on NY Fed board warns on commercial real estate risksAn executive who also serves on the board overseeing the New York Federal Reserve warned on Twitter of potentially systemic problems in the real estate finance market and called on the industry to work with authorities to avoid things getting out of hand.
続きを読む »
Real estate reprieve continues as mortgage rates keep fallingPotential homebuyers received some positive news from Freddie Mac's weekly interest rate report, as mortgage rates continued their decline for the second week.
続きを読む »
Financial expert explains real estate equity bondsInvesting is a great tool to build long-term wealth, the key is identifying which opportunities are best suited for your financial goals. Consumer Investigator Rachel DePompa talks to an expert about an often-overlooked investment area: real estate equity bonds.
続きを読む »
How to invest in real estate while starting your own businessTwo millennial founders share how they invest in real estate for financial stability while building their own businesses
続きを読む »
San Jose hotel project site nears real estate auction and foreclosureThe development site of a San Jose boutique hotel is headed for an auction and foreclosure on its delinquent real estate loan.
続きを読む »
Rare real estate steal: Will Dallas save 282-acre oasis from Fairfield State Park’s fate?Developer is willing to donate trail-rich Big Cedar wilderness in southwest Dallas. Let’s learn from Fairfield State Park mistakes and act soon.
続きを読む »