| ▲ | instagib 10 hours ago | |
https://archive.ph/gA9Vo Partial view. Archives having issues scraping nytimes lately. 381 page bill too. “The measure prohibits corporate entities from owning more than 350 existing single-family homes, although it does not require them to sell homes purchased before the measure became law.” They don’t mention anything about foreign investments but China is trying to rein in their own overseas spending to boost national investment. Carve outs: - Investors may purchase homes owned by other investors. - There are additional exceptions related to previous contracts and legal obligations, or if the purchase is part of a loss-mitigation strategy. https://nlihc.org/sites/default/files/21ST_Century_ROAD_Expl... | ||
| ▲ | rendaw 8 hours ago | parent [-] | |
There's a lot I don't understand here. How did they come up with 350? I doubt there are any people who own more than 10 houses for personal use, and this is 35x that. What's to stop people from just making multiple corporate entities? Or investors below the cap buying properties and flipping them to institutional investors above the cap bypassing the cap entirely? | ||