Not gonna happen....
Let the lawsuits, begin....

That's why the housing market is what it is. Investors are buying up all the available houses and renting them out. Not sure this plan will work, but I understand the thoughts behind it.

So the City wants to tell me, a private citizen, who I can and cannot sell my personal property to?

Yep.


Thats discrimination. Especially considering the number of Minority investors

Black rock ain’t letting that happen. If they do they will write the law and skate away with very little competition.

What in the California is Dallas doing?

Don't know if government can do it, but several HOA's across the country are doing it.

Probably thought up by the same kind of folks that want to tax unrealized gains.

That is what has happened in Rockwall. Investors have came in by the droves, bought up the older, "affordable" houses and now renting them out. By the class of folks they are renting to I would guess they are on section 8 vouchers. Hate to see it happen to my once little town....

HOA can restrict rentals not ownership. Big difference. The article cites ownership

Dumbest article ever, using foreign investments restrictions of a racist country, that closed its borders to foreigners for almost a year. This is the United States of America

I hope they ban multiple homes in Dallas so they can get taken to the cleaners on discrimination. Would be pretty amusing.

Black Rock is evil!

How many houses are being bought by Chinese nationals?

HOAs are vile organizations peopled by power-hungry Karens and Kens. Anyone who needs HOAs to protect them probably doesn't understand that less government is a good thing.

You seem like an HOA kind of person.

I am on the fence on this. My feet are squarely in both camps of limiting sales and regulatory agencies staying the heck out of our business. The property tax slant is the weakest argument to me. The loss of property rights is a huge issue to me, so I resent the proposal in that regard. However, American real estate benefitting non-American entities should concern everyone. Why should we allow a potential nefarious actor (drug cartels, terrorists, foreign governments, etc) benefit financially from the system they want to destroy? A relatively short term ban on transfer of real estate to international investors would be interesting. A ban on all sales that are not direct from Home Owner-occupier A to Home Owner-occupier B could be catastrophic....and probably won't ever happen.

Home ownership, used properly, can be an incredible wealth building tool. I will never forget reading a study in Oklahoma that proved Reservations where home ownership is Tribe or Bureau of Indian Affairs managed have a much higher rate of impoverished residents than those Tribal areas with private home ownership and residents have the right to buy/sell property.

I am very worried about corporations owning too much residential real estate - the writing is on the wall. Zillow, among other entities and tech gurus, have armies of agents trying to buy properties as we speak. Sometimes the goal is to get houses cheap for a high $ return on a flip, other times they are taking down CHUNKS of neighborhoods with the goal of renting them out. Masterplanned rental communities are becoming trendy with developers and builders. Imagine paying $2,000/month or more for something you occupy for years and yet never own. Individual home ownership is already at an all time low, nationally. This concerns me for the generations coming after us.

Blackstone started the industry in 2012 with Invitation homes, they made $7 billion when they sold their stake in 2019. They got back in the business a few months later with Tricon.

I'm not. You seem like the kind of person that runs their mouth before they know all the facts.

I don't like HOAs, but we're in one 'cause that's where we bought our lot 19 years ago. We don't "need one for protection". It's actually become entertaining to get email after email about voting and what the board recommends, and then watch it get voted down. The president is a former cheerleader type that's dummer than a box of rocks. She keeps getting reelected because no one else wants it. And, of course, we have that one old man, with no other hobbies, that thinks he really runs the neighborhood and knows better than everybody. (Retired accountant.) His obsession is watching out for oak wilt and would really like to be able to go on anyone's lot at any time. I've set him straight on that notion.

18k+ Illegal Aliens coming across the border into our state every day and each and every one of them needs a place to live, and they think the problem is the home investors.

This right here. 60 minutes did a segment about this issue recently.

I don’t think anyone of us would want the government intervening in a sale where the home owner was about to make a pile of money , especially if they had their dream property picked out.
I wouldn’t take that well at all.

You seem like the kind of person that’s easily triggered.

Lol, never gone happen