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Restrict Home Sales To Investors? #8586600 04/27/22 02:44 PM
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Dallas considers restricting home sales for real estate investors
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DALLAS - The city of Dallas may consider limiting the number of homes real estate investors can buy.

The move would aim to tackle the rising home prices across the DFW area.

https://www.fox4news.com/news/dallas-considers-restricting-home-sales-for-real-estate-investors

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586612 04/27/22 03:12 PM
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Not gonna happen....
Let the lawsuits, begin....

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586613 04/27/22 03:15 PM
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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.


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586626 04/27/22 03:36 PM
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So the City wants to tell me, a private citizen, who I can and cannot sell my personal property to?

Re: Restrict Home Sales To Investors? [Re: Sailor] #8586627 04/27/22 03:36 PM
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Originally Posted by Sailor
Not gonna happen....
Let the lawsuits, begin....



Yep.


Thats discrimination. Especially considering the number of Minority investors


For it is not the quarry that we truly seek, but the adventure.
Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586645 04/27/22 04:04 PM
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Black rock ain’t letting that happen. If they do they will write the law and skate away with very little competition.

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586648 04/27/22 04:06 PM
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What in the California is Dallas doing? rolleyes


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586655 04/27/22 04:16 PM
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Don't know if government can do it, but several HOA's across the country are doing it.


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586658 04/27/22 04:20 PM
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Probably thought up by the same kind of folks that want to tax unrealized gains.

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...and have dominion over the fish of the sea, and over the fowl of the air, and over every living thing that moveth upon the earth. Gen. 1:28
Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586664 04/27/22 04:29 PM
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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....


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Re: Restrict Home Sales To Investors? [Re: Dry Fire] #8586671 04/27/22 04:40 PM
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kind of a big deal
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Originally Posted by Dry Fire
Don't know if government can do it, but several HOA's across the country are doing it.


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


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586676 04/27/22 04:42 PM
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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.



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Re: Restrict Home Sales To Investors? [Re: ducknbass] #8586677 04/27/22 04:44 PM
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Originally Posted by ducknbass
Black rock ain’t letting that happen. If they do they will write the law and skate away with very little competition.


Black Rock is evil!


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586701 04/27/22 05:47 PM
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How many houses are being bought by Chinese nationals?


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Re: Restrict Home Sales To Investors? [Re: Dry Fire] #8586703 04/27/22 05:58 PM
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Originally Posted by Dry Fire
Don't know if government can do it, but several HOA's across the country are doing it.


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.

Re: Restrict Home Sales To Investors? [Re: Dry Fire] #8586714 04/27/22 06:25 PM
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Originally Posted by Dry Fire
Don't know if government can do it, but several HOA's across the country are doing it.


You seem like an HOA kind of person.

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586723 04/27/22 06:38 PM
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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.

Re: Restrict Home Sales To Investors? [Re: ducknbass] #8586738 04/27/22 07:13 PM
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Originally Posted by ducknbass
Black rock ain’t letting that happen. If they do they will write the law and skate away with very little competition.


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.

Re: Restrict Home Sales To Investors? [Re: Sneaky] #8586746 04/27/22 07:43 PM
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Originally Posted by Sneaky
Originally Posted by Dry Fire
Don't know if government can do it, but several HOA's across the country are doing it.


You seem like an HOA kind of person.


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


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586767 04/27/22 08:37 PM
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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. roflmao 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.


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Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586770 04/27/22 08:46 PM
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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. roflmao

Re: Restrict Home Sales To Investors? [Re: HuntnFly67] #8586773 04/27/22 08:53 PM
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Originally Posted by HuntnFly67
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.




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

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586777 04/27/22 08:54 PM
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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.

Re: Restrict Home Sales To Investors? [Re: Dry Fire] #8586782 04/27/22 09:08 PM
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Originally Posted by Dry Fire
Originally Posted by Sneaky
Originally Posted by Dry Fire
Don't know if government can do it, but several HOA's across the country are doing it.


You seem like an HOA kind of person.


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


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

Re: Restrict Home Sales To Investors? [Re: ndhunter] #8586827 04/27/22 10:27 PM
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Lol, never gone happen

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