1029
This does absolutely nothing. As others pointed out, they'll just create new shells. Even if they lowered prices somehow it would be pointless. There is no money or jobs anymore.
Obligatory:
So for every 350 homes they make a new LLC or shell company.
You didn't expect this to actually fix the problem did you? Sorry, too much money to be made.
I mean any progress is a step in the right direction. It just seems that these days are Democrats are very performative. Most of their legislation has no teeth and is just for show. Enforcement of any policies is basically none.
Sounds about right, most policies are passed on their performative aspects. When you really sit down and read the law you often find the performative reason that was cited isn't even true.
Unfortunately both sides do something similar, It seems that modern legislative practices lead to incredibly broad and poorly written policy that can be interpreted and almost any direction. I think it’s like that by design. But it’s so watered down and meaningless that it’s just a feel good title with a bunch of bullshit stuffed into it.
Yes, I do believe this is done on purpose. This combined with shitty concepts like omnibus bills with riders ensures policy gets passed that should have never seen the light of the day.
I honestly can’t believe how much bullshit they stuff into the budget every year. I guess it’s just been accepted that every must pass tight Bill has to be stuffed chock full of the worst most vile stupid legislation ever. No politician wants to risk their career election campaign trying to pass some dystopian corporate bootlicker policies. So they just shove it every budget bill hoping that no one will read the thousands of pages to catch their loopholes.
*always performative. There's a reason schumers name is on Epstein's blackmail list.
This won't do anything people who read actual news know the private equity is a convenient boogeyman hiding the refusal of state government to do their job an remove local control and mandate zoning reform and more housing of all types and sizes. Also it's 2026 and people are still posting tv news outlets to the internet.
Are they stripping them of the ones they already have?
Hopefully they're just being taxed at increased rates that make profit unviable and allows them to unload the houses normally. I don't really know how the legislation works though.
This solution makes sense. They need to phase out the existing rules properly, no matter how wrong they were to begin with.
Tax them from 10% til 100% over 5 years, and let them sell off as they go through that time spand maybe?
It's a great way to get younger people to stop caring when they can't actually afford to own anything. This is a step in the correct direction, corporate gatekeeping needs to end, we need to give people opportunities to own. If someone rents, borrows, and leases their entire life, why would they care if it all goes to shit?
And let's not forget: the younger people of today are the older people of tomorrow. Except for those who are handed things due to generational wealth, we're looking at an extremely large contingent of the country (world?) which will own nothing. Perhaps the largest ever such contingent. Does not seem like a sustainable situation over any extended term.
Finally! I've watched these fucking companies buy up every house in my neighborhood that came up for sale. IMO when this trend started was when the people's dream of ever owning a home got destroyed. Warnock for President?
We’ve had low interest rates propping up the stock market and speculative bubbles for far too long. This is why there has been too much cheap capital chasing returns over the last decade.
It’s a bubble of its own which we are starting to see pop in a number of sectors. (Private Equity firms and banks starting to show signs of strain, zombie businesses going under, AI bubble running out of capital sources and now tapping retail investors, crypto crash, etc.)
However this president is intent on getting us to 0% interest rates which will reverse that progress. Once the asset class can tap into essentially free money all of this progress will be undone.
If PE can get free capital every 7 years and sit on an appreciating asset while making renters pay for it, they will. If PE has to refinance that asset every 7 years at 7% or 8% interest suddenly the math doesn’t work especially in a slumping housing market.
Can we apply that to farms too? If you aren't actually farming, whether you have a corporation or not, you can't buy farmland. Sorry, JD.
If Trump didn't veto it, there must be some loopholes large enough to drive a battleship through.....
Senate vote was 85-5
Ron Johnson of Wisconsin Mike Lee of Utah Rand Paul of Kentucky Rick Scott of Florida Tommy Tuberville of Alabama
Guessing Trump knew it would be a losing battle to veto it. Also, it should make him look better with him having to do nothing but stay out of the way
Rick Scott voting against his constituency?
Shocker.
- A Floridian, speaking sarcastically
Fuck Rick Scott to hell and back. He is in it for the $$$ and nothing else, does not give even one fuck about the people of Florida. I cannot imagine voting for him, such a high level scammer.
Damn, fuck Russian Ron Johnson. The democrats really left Barnes out to dry against Ron Johnson and he ran an awful campaign. It still blows my mind that the same election elected Democrat Evers for governor and Ron Johnson. What a wild split ticket.
It sure would be cool if Ron Johnson would go grab a drink with Lady G and Mitchy boy. I truly hate that man.
it was also an opportunity for everyone to kumbayah and get some good press on addressing affordability
Finally some good news!
Good! Those fucking passive income vultures.
Are private equity firms, as defined in the bill, actually buying homes? Or is the private entity type doing that, not classified as an equity firm?
Rich people have nothing to do with their stolen money but buy up assets. It's a runaway disaster for everyone. The rich are pricing people out of being alive and we act like we can't do anything about it. At some point, perhaps gen Alpha, will have to do something about it or simply die.
Now pair with legislation that says all existing corporate owned properties are taxed at 100% of any revenue derived from ownership of those properties
I'd start with taxing 100% property taxes of empty properties as a logical next step.
I get where you're coming from and an for the sentiment, but that will need at least some sort of caveat or having to sell the house of a lost family member will be become very dangerous.
Or buying a foreclosure and making it livable.
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I knew he'd do some good. :) I was hopeful when Georgia elected him. That hope wasn't misplaced.
That’s genuinely fantastic news.
The skeptic, pessimistic part of me now wants to know how BlackRock et al will get around this with creative corporate and financial shell games, because I’m absolutely sure they will try to do just that.
An important distinction here is that BlackRock is not a PE firm. They are an asset management company. Now, that's not to say they're not in the business of buying up homes, just that they're not PE. Blackstone is the PE firm which has been buying up single family homes. They're different companies. Both evil though.
It's actually not bad, prevents shell games, but still allows them to keep properties they already own and allows up to 350 new properties larger than single family.
A potential hack would be offering loans to businesses to buy 350, and if theyvreally want to push the limits they can try to buy the smaller companies which just so happens to transfer their properties.
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how bout ban them in general, since they are ruining alot of companies.
Why are we still linking to CBS news? Can't trust that shit.
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this post was submitted on 13 Jul 2026
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