Is there anything private equity firms have touched that they haven’t completely turned to shit?
oldcreaker on
Maybe they could next limit private equity from buying senators
Nikopoleous on
Better late than never, housing (an essential human need) should never have been allowed to become the basis for PE funds.
Next step should be requiring the holders **(i.e. PE firms)** of single-family homes to sell them at the cost they paid for them.
**edited for clarity.**
Al_Tilly_the_Bum on
The version of the bill that will advance puts a cap on how many homes a PE firm can own at 350 BUT provides no time limit on making sure they sell if they go over the cap. So this bill creates a cap but does nothing to penalize firms that break it
Edit: A previous version of the bill made sure PE firms had to sell excess inventory within 7 years and that was seen as too harsh. 7 years!
femme_mystique on
Ban private equity from healthcare, including pet care. They buy up all vets then raise prices 400% because they have a monopoly in the area and no one wants their pet to die from an easily fixable issue. And everyone’s insurance is through the roof.
AuthorityAnarchyYes on
Private Equity Firms should not be legal
GuthramNaysayer on
How about ban and not limit?
bored-nerdface on
Make it so they can’t own it. Then it may make a difference.
Make it so no company can own residential property other than specific zoned apt buildings. Then it may make a difference. Zillow owns way more than your think and it’s not private equity.
Also, the real estate lobby is #2 in spending money in washington. I doubt any meaningful change will happen.
Such_Veterinarian682 on
The same equity co that started this trend also owns Lemonade, the pet insurance comapny.
sls35 on
It should be banned, not limited. And a 10 year divestment.
DefiantDonut7 on
I guarantee there will be loop holes
Nvenom8 on
I just realized how long it’s been since I heard about a positive piece of legislation that actually has a chance. This congress has done so little it’s staggering, and what little they have done has been almost exclusively negative.
sgr28 on
This isn’t going to reduce housing prices (only increasing supply will do that), but I’m glad we’re doing this so dumb people can get on the road to seeing for themselves that it won’t work and we can finally move on to real solutions.
beebs44 on
IT’S COMPLETELY WORTHLESS
IT STOPS THEM FROM OWNING OVER 350 HOMES
Americans should be infuriated with how out of touch these bozos are
Signal_Minimum8509 on
Unfortunately we’re now at a point when housing inventory is much higher than it was three years ago, but prices have remained the same, wages are stagnant for non home owners, and consumer confidence is low. This might have been helpful in 2022, now we need employers to pay more to keep up with inflation in order to help younger people feel more confident about buying homes.
LEM1978 on
Condos and apartments are homes too. Where the protections for those?
Agreeable_Scarcity32 on
When are we as a nation gonna realize capitalism just doesnt work for the average person.
Its crazy to me, people can get completey screwed over and will just be like well its the market, nothing we can do. So tired of this bull shit.
pchs26 on
350?! WTF does that do?I thought they were stopping them at 2 or 3?
Low-Finding-3414 on
Why the fuck is private equity allowed to buy single-family homes?
Bob-Dolemite on
what? doing something for the people?
magerda on
This could actually help regular buyers for once
magerda on
finally some actual legislation instead of vibes
addctd2badideas on
How is this the first I’m hearing about this bill?
trollmonster8008 on
Wild that good legislation might pass.
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24 Kommentare
Is there anything private equity firms have touched that they haven’t completely turned to shit?
Maybe they could next limit private equity from buying senators
Better late than never, housing (an essential human need) should never have been allowed to become the basis for PE funds.
Next step should be requiring the holders **(i.e. PE firms)** of single-family homes to sell them at the cost they paid for them.
**edited for clarity.**
The version of the bill that will advance puts a cap on how many homes a PE firm can own at 350 BUT provides no time limit on making sure they sell if they go over the cap. So this bill creates a cap but does nothing to penalize firms that break it
Edit: A previous version of the bill made sure PE firms had to sell excess inventory within 7 years and that was seen as too harsh. 7 years!
Ban private equity from healthcare, including pet care. They buy up all vets then raise prices 400% because they have a monopoly in the area and no one wants their pet to die from an easily fixable issue. And everyone’s insurance is through the roof.
Private Equity Firms should not be legal
How about ban and not limit?
Make it so they can’t own it. Then it may make a difference.
Make it so no company can own residential property other than specific zoned apt buildings. Then it may make a difference. Zillow owns way more than your think and it’s not private equity.
Also, the real estate lobby is #2 in spending money in washington. I doubt any meaningful change will happen.
The same equity co that started this trend also owns Lemonade, the pet insurance comapny.
It should be banned, not limited. And a 10 year divestment.
I guarantee there will be loop holes
I just realized how long it’s been since I heard about a positive piece of legislation that actually has a chance. This congress has done so little it’s staggering, and what little they have done has been almost exclusively negative.
This isn’t going to reduce housing prices (only increasing supply will do that), but I’m glad we’re doing this so dumb people can get on the road to seeing for themselves that it won’t work and we can finally move on to real solutions.
IT’S COMPLETELY WORTHLESS
IT STOPS THEM FROM OWNING OVER 350 HOMES
Americans should be infuriated with how out of touch these bozos are
Unfortunately we’re now at a point when housing inventory is much higher than it was three years ago, but prices have remained the same, wages are stagnant for non home owners, and consumer confidence is low. This might have been helpful in 2022, now we need employers to pay more to keep up with inflation in order to help younger people feel more confident about buying homes.
Condos and apartments are homes too. Where the protections for those?
When are we as a nation gonna realize capitalism just doesnt work for the average person.
Its crazy to me, people can get completey screwed over and will just be like well its the market, nothing we can do. So tired of this bull shit.
350?! WTF does that do?I thought they were stopping them at 2 or 3?
Why the fuck is private equity allowed to buy single-family homes?
what? doing something for the people?
This could actually help regular buyers for once
finally some actual legislation instead of vibes
How is this the first I’m hearing about this bill?
Wild that good legislation might pass.