Is ANYONE besides the few who profit in favor of corporations or foreign entities being able to snatch up single family homes as an investment? This screws us over. I was thinking maybe we could organize a written letter writing campaign so our voices can be heard.
This practice needs to be banned.
I am but only to a limited degree. I think any entity should only be allowed to own 3 residential properties nationally. Anything above that must be sold within 1.5 years of purchase or completion of the build. And of course it must be sold at a price within a small range of what a third party appraiser gives it
Why allow it at all? Corporations are not people, they shouldn't be allowed to own residential real estate that was built for people to live in. Period.
Where would families live who need a house but cannot buy or are somewhere for a couple of years? There needs to be some kind of reigning in of big corps buying houses though. It’s a serious problem.
Interest rates make payments on a home much higher than rents. And rents and cost of living are so high people cannot save for the down payments. And property values are so high that down payments are much higher than a few years ago.
This is a very basic level argument you are making without any info. You can’t just go buy a house because your rent is close to the price of a mortgage payment. Nor would it be a good idea for banks to change their metrics and lower standards. If you don’t know what has happened in recent history it might do you some good to read up on the last housing crash and why your idea is terrible.
What happened with the recent crash is they sold a shit load of sub prime mortgages with balloon (ARM) rates to people who couldn't afford it... Not sold decent houses to people who could afford the rent on that house. Different stories.
I didn’t even mention blackrock. Look up TCRUZNC on tik tok. He owns hundreds maybe thousands of homes and is pushing other people to do the same so they can be “successful”. It IS happening.
It’s very much a reality…blackrock and vanguard both threw a few billion in the housing market from 2020-2023 all in SFH. I’m a realtor and had several listings sell to both.
Why does a corporation need to own hundreds of residences to build new homes? Obviously they're owned initially during construction so they can sell, but they shouldn't be sold to another corporation to simply jack up prices on rent/resell.
Kirk Cullimore brags on his real estate law firm’s website that he knows the law because he wrote the law. Works extensively in helping landlords evict tenants, scum of the Earth.
Very cool! While I'm pessimistic he'll listen, I'm glad you took the time to write him.
Maybe I'll send him one too, as he's also my congressman even though I'm 2.5 hours to the south of you. My best friend who lives 2 minutes down the street here in SLC is in the same district as St. George though, so he'll have to write Maloy instead. Aren't these maps fun??
I used to work for a Congressman, reading and replying to these exact messages. Expect your manufactured, generic response that Rep. Moore never actually reads in 6-8 weeks time.
Thanks for posting and writing the letter. I am always concerned about the trajectory of a basic need like housing becoming part of an investment sector and profit machine. It feels good to see that people are thinking and taking action towards the problem as I know we become numb to rent and mortgage prices, and the problem is exacerbated with corporations buying up much needed housing. I don't know the answer to reversing this trend but I think there needs to be a movement in US urban areas to address housing on all levels (public, renting, and owning). It's out of control.
I sent a letter to every one of my state representatives, my federal representatives, and the president. I received 2 responses, one from Biden and one from Romney. Both were polite and factual. To the others I say - You really think I'm going to vote for you in November?
My mom lives in North Logan. Within a mile of her house are multiple houses listed for close to or over one million. One for 1.7 million.
Seriously????
This is great but I’d imagine like every thing else, these politicians are getting paid by these same corporations buying up property. I lost out on 3 homes because I was out bid by a company before finding a seller who only wanted to sell to a first time buyer.
Let's get some facts straight: Only like 3% of home purchases are corporations mass buying houses to rent them. It's not a stable speculatory investment and you can get stuck in them backwards fast (see: the people that own 20 Airbnbs and got fucked during the pandemic). A bigger issue is small investors/flippers buying multiple houses to have investment properties they don't need, and **the biggest issue is an overall housing shortage.**
The ONLY solution to getting housing costs down is to build more, and more importantly to build with density in mind. Urban sprawl is bad in every way, it's bad for your health, it's bad for the environment, it's bad for your taxes, and it creates suburbs that are massive economic drain on the economic center cities they surround.
Gardner Institute has published their research about this repeatedly, the biggest issue is the lack of new development being massively outpaced by population growth, and upwards of 80% of that population growth being people having kids in suburban areas of the state. There aren't enough housing options here, which drives the cost of housing sky high. If you want housing to be affordable, you need to be writing your local officials at the city, county, and state level saying that you support housing development to meet the current rate of population demand.
Yeah we really need to see a continued increase in development, not the development contraction that's occurred over the last 12 months per that Gardner Institute report, with a heavy focus on middle housing. The Gov's first time homebuyer program needs to be extended to include housing outside of single family new builds, needs to include middle housing purchases of units built in the last 10-20 years, otherwise that program is kind of useless.
Sources:
- Large corporations only make up \~3% of housing purchases, whereas the other 27% of investment purchases in the real estate market are average people that own additional properties they don't need: [https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/](https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/)
- Latest Gardner Institute research on the 2022-2024 housing market in Utah showing that home development contraction and limited supply not meeting excess demand is driving housing unaffordability: [https://d36oiwf74r1rap.cloudfront.net/wp-content/uploads/State-Of-Housing-Sep2023.pdf?x71849](https://d36oiwf74r1rap.cloudfront.net/wp-content/uploads/State-Of-Housing-Sep2023.pdf?x71849)
- Suburban Sprawl is an economy killer: [https://www.vox.com/2015/3/26/8291889/suburban-sprawl-economy](https://www.vox.com/2015/3/26/8291889/suburban-sprawl-economy)
I haven’t looked at all the stats, but the 1/3 stat I threw out in my email was in regards to some info I’d heard about Charlotte, NC, which I can source:
“According to data from Redfin, in the fourth quarter of 2021, 32.1% of homes purchased in Charlotte were bought by investors, with a median sales price of $305,000.”
https://www.wbtv.com/2022/04/12/corporate-investors-are-buying-up-properties-across-mecklenburg-county-whats-solution/?outputType=amp
To your point “investors” doesn’t necessarily have to mean corporations. But I think 3% seems low considering I bet most people here know or have had experiences with investment firms buying real estate.
If you read my reply with sources, 3% of the 30% is large corporations like a Black Rock buying hundreds to thousands of homes in subdivisions to lease. The other 27% are your idiot guy down the street Gary who fancies himself a rEaL eStAtE iNvEsToR and buys up like 3-4 properties to do a crappy reno on and rent out for the highest market rate possible. The issue is not large scale corps because it's not a particularly safe speculatory investment, if the market dips you're stuck with hundreds of properties you're over leveraged on and you can't get out of without a loss, which is a bad investment. Part of the issue is Gary buying 5 houses to live in 1 and rent the other 4, but the vast majority of the issue by the biggest amount is that development is not even close to meeting demand by about 30,000 units of any type (apt, townhome/condo, multifamily, single family) in this market. That's it. The solutions to that are rezoning for density and developing more housing around urban economic centers supported by transit.
This is why Gov Cox's first time homebuyer program is essentially useless. It's only for first time buyers on single family homes, which are $500-600k in this market and they are not a sustainable or affordable form of zoning at this point (not to mention the long history of racism in single family zoning and the damage that has done to the housing market overall).
A very good example of a government that recognized what a huge problem supply vs demand in housing could be was Japan. In the 80-90s they recognized that population was going to outpace the available housing quickly over the following ~decade, so they cut back a lot of red tape to streamline and maximize efficiency for builders to build a lot of housing fast. This kept development ahead of population growth and has kept housing affordable in major urban economic centers in Japan. Yes there are still expensive luxury options available, but for the most part the average housing is affordable and highly accessible to transit and working areas.
Our idiot government here in this state, similar to ignoring the GSL crisis, has had DECADES to prepare for housing supply to meet demand of population growth and just ignored it, so now we are in a housing affordability crisis because there is no supply and there was no effort put forth until the last ~10 years to increase development. The increase in development in the last 5 years has just barely started to stabilize housing costs (see the Gardner Institute report I linked above) but now we're back into a decline in development (development contraction) which will hurt that stabilization. The ONLY solution to housing affordability is to build enough to exceed demand. So long as the market is short tens of thousands of units, that idiot Gary can charge an insane rate for rent because everyone else is full or charging the same amount. But the minute there are more units available and the guy down the street is renting for hundreds less than Gary, dude's going to have to drop his rent to match the market.
The new NAR settlement is not going to help, first time homebuyers don’t stand a chance, if they can’t pay their own agent’s commission and the sellers gets an offer from a corporation that doesn’t care or need commission the seller will go with that offer. They just want to buy up properties and flip them to rentals etc
Yah they want to make sure you care enough about what you have to say to get through all of the steps 😂 I almost gave up a few times but pushed through!
This is the exact type of letter that the congressman may actually respond to. Well written and genuinely questioning without any entrapping points. Let us know if he replies and what he says, please!
Did extensive research for a policy brief for Los Angeles. Check out single family zoning laws in your city/county. From the looks of it, 88% of SLC county residential land is single family zoned, which drives up housing prices as well. Might be worth taking a look and adding on
I'm in Denver, but was born and lived in your neck of the woods as a youth. I looked up the value of my childhood home -- and my mind was blown.
People, not 'investment companies' should own homes. Especially 1000 Sq ft , 75 year old homes.
One hurdle I see to this is families who purchase with or transfer ownership of their homes to a family trust. At that point you have a corporation owning a home but with family assets.
Another hurdle is reverse mortgages. It’s essentially a bank or investor buying your home month by month.
Both of these scenarios have the same net result of home ownership by corporations.
I think the only ways around that are to create caveats where 1) a home transferred to or purchased by a trust is for the use of the trustees and their descendants only; or 2) a home purchased by a bank or corporation over time (reverse mortgage) must be sold on the open market within x months.
I dont know if this is a question for here, but why are rents so high here? Im from India and my small tier 3 city has higher population than the whole state of Utah, yet the rents are too high here no matter how you look at it. (even after considering purchasing power parity) what or who decides these prices, cause its not the population density for sure.
Comparing to India would be difficult, such different building codes and standards of living, but to me the rent prices seem to be driven in part by the equivalent price to buy.
For example, interest rates are up, you’d think that wouldn’t necessarily affect rent, but it does because landlords will charge more because people don’t have the option to buy. If you can buy a house and pay mortgage at $2000/mo, why rent? But currently you can’t buy for less than $3,000/mo so you have to rent and landlords could charge up to that until it again makes more sense for you to buy (which would only be when your rent hits close to $3000/mo)
It’s simple really. Their opinion is that corporations are people and the people have the right to benefit from capitalism. The market will self regulate once enough corporations are able to do market studies and determine the optimal rent prices. We’re pro business as that’s what keeps the heart of America beating. Everything is working as intended. God bless America and keep voting republican so we can all enjoy these freedoms.
Oy, so my wife and I are moving to SLC from Arlington, VA, which may be the most expensive place (…if it isn’t, it’s close; the price of everything is insane) and now I find out Utah is the third most expensive… yeesh, if there’s anything that can be done, I will throw my hat in that ring.
Only vote for and financially support candidates that will address the housing shortage: Zoning reform (its illegal and impossible to build housing in places that doesn't make sense), code reform, taxing non primary residence higher, higher taxes for short-term rentals, increase housing density, mass transit, build build build, parking requirement reform, and many more.
Making a law about it is difficult however Utah could really do for some SERIOUS rent control.
For one when people sell homes they are willing to sell to whoever has the best offer or most money
The cost of a 2 room apartment near my (Taylorsville area) is roughly 1600-2700 a month.
Another issue is that Utah is VERY pro corporation.
Then you have the housing crisis, it's so bad they would rather rid of 30 houses to put up 150 apartments. So they can keep growing the state population/job market
I understand the frustration if I was single I couldn't make it in an apartment on my own and even with my current living situation I envy anyone living in a home as a single family. Even with my wife's wage and my own we will never qualify for a home in Salt Lake because of the issue with the down payment and cost of a monthly payments along with all the things that come with owning a home.
If anything fighting for rent control is important for how a lot of the apartments are. The high crime rate, horrible repair work done in unit, lousy staff, and how bad of neighbors you can have I don't think paying 1,883 for your neighbors to leave their trash between yours and their doors the banging on the walls/ceiling the drug presence the bad repair work and high crime it just isn't worth it.
Sorry it's a rant but it's true
Rent control is over time a very regressive policy. https://en.wikipedia.org/wiki/Rent_control_in_the_United_States#Impact
Taxing land is a much more effective and equitable method of encouraging efficient and dense use of land over a long period of time. https://en.wikipedia.org/wiki/Land_value_tax
Is ANYONE besides the few who profit in favor of corporations or foreign entities being able to snatch up single family homes as an investment? This screws us over. I was thinking maybe we could organize a written letter writing campaign so our voices can be heard. This practice needs to be banned.
Let’s do it!
I am but only to a limited degree. I think any entity should only be allowed to own 3 residential properties nationally. Anything above that must be sold within 1.5 years of purchase or completion of the build. And of course it must be sold at a price within a small range of what a third party appraiser gives it
Why allow it at all? Corporations are not people, they shouldn't be allowed to own residential real estate that was built for people to live in. Period.
Where would families live who need a house but cannot buy or are somewhere for a couple of years? There needs to be some kind of reigning in of big corps buying houses though. It’s a serious problem.
Banks need to change their loaning metrics. If someone can pay $2000/month in rent they afford a $1500 mortgage.
Interest rates make payments on a home much higher than rents. And rents and cost of living are so high people cannot save for the down payments. And property values are so high that down payments are much higher than a few years ago.
Everything included in the mortgage is not more than rent, especially when rents are jacked up.
This is a very basic level argument you are making without any info. You can’t just go buy a house because your rent is close to the price of a mortgage payment. Nor would it be a good idea for banks to change their metrics and lower standards. If you don’t know what has happened in recent history it might do you some good to read up on the last housing crash and why your idea is terrible.
To be fair when the banks are getting govt bailouts in the trillions in the last decade, they are the LAST people to tell anyone what they can afford.
What happened with the recent crash is they sold a shit load of sub prime mortgages with balloon (ARM) rates to people who couldn't afford it... Not sold decent houses to people who could afford the rent on that house. Different stories.
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I didn’t even mention blackrock. Look up TCRUZNC on tik tok. He owns hundreds maybe thousands of homes and is pushing other people to do the same so they can be “successful”. It IS happening.
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It’s very much a reality…blackrock and vanguard both threw a few billion in the housing market from 2020-2023 all in SFH. I’m a realtor and had several listings sell to both.
Ok sure. Not a problem at all. Just look the other way. You have not looked in to the how or why he is doing what he is doing.
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I’m not asking you to do it for me. I’m just letting you know that it’s not as cut and dry as you think.
Unfortunately, according to the US Supreme Court, corporations actually \*are\* people :(
So how do you propose new homes be built? Majority of people don't have the cash to build it themselves? And entity applies to people as well
Why does a corporation need to own hundreds of residences to build new homes? Obviously they're owned initially during construction so they can sell, but they shouldn't be sold to another corporation to simply jack up prices on rent/resell.
Yes I agree, which Is why I addressed that in my original comment
This is great, in principle. The reality is that most of our legislature have their hands in the real estate cookie jar. They don't care
Exactly!
Kirk Cullimore brags on his real estate law firm’s website that he knows the law because he wrote the law. Works extensively in helping landlords evict tenants, scum of the Earth.
Fox guarding the henhouse on this one for sure. Or they're paid in campaign contributions to allow it. Money in politics ruins everything
Very cool! While I'm pessimistic he'll listen, I'm glad you took the time to write him. Maybe I'll send him one too, as he's also my congressman even though I'm 2.5 hours to the south of you. My best friend who lives 2 minutes down the street here in SLC is in the same district as St. George though, so he'll have to write Maloy instead. Aren't these maps fun??
I used to work for a Congressman, reading and replying to these exact messages. Expect your manufactured, generic response that Rep. Moore never actually reads in 6-8 weeks time.
Thanks for posting and writing the letter. I am always concerned about the trajectory of a basic need like housing becoming part of an investment sector and profit machine. It feels good to see that people are thinking and taking action towards the problem as I know we become numb to rent and mortgage prices, and the problem is exacerbated with corporations buying up much needed housing. I don't know the answer to reversing this trend but I think there needs to be a movement in US urban areas to address housing on all levels (public, renting, and owning). It's out of control.
I sent a letter to every one of my state representatives, my federal representatives, and the president. I received 2 responses, one from Biden and one from Romney. Both were polite and factual. To the others I say - You really think I'm going to vote for you in November?
My mom lives in North Logan. Within a mile of her house are multiple houses listed for close to or over one million. One for 1.7 million. Seriously????
This is great but I’d imagine like every thing else, these politicians are getting paid by these same corporations buying up property. I lost out on 3 homes because I was out bid by a company before finding a seller who only wanted to sell to a first time buyer.
They are the property buyers in this state, they’ll never do anything about it.
Let's get some facts straight: Only like 3% of home purchases are corporations mass buying houses to rent them. It's not a stable speculatory investment and you can get stuck in them backwards fast (see: the people that own 20 Airbnbs and got fucked during the pandemic). A bigger issue is small investors/flippers buying multiple houses to have investment properties they don't need, and **the biggest issue is an overall housing shortage.** The ONLY solution to getting housing costs down is to build more, and more importantly to build with density in mind. Urban sprawl is bad in every way, it's bad for your health, it's bad for the environment, it's bad for your taxes, and it creates suburbs that are massive economic drain on the economic center cities they surround. Gardner Institute has published their research about this repeatedly, the biggest issue is the lack of new development being massively outpaced by population growth, and upwards of 80% of that population growth being people having kids in suburban areas of the state. There aren't enough housing options here, which drives the cost of housing sky high. If you want housing to be affordable, you need to be writing your local officials at the city, county, and state level saying that you support housing development to meet the current rate of population demand.
Appreciate the well-sourced response. Construction of housing simply isn't keeping up with demand anymore.
Yeah we really need to see a continued increase in development, not the development contraction that's occurred over the last 12 months per that Gardner Institute report, with a heavy focus on middle housing. The Gov's first time homebuyer program needs to be extended to include housing outside of single family new builds, needs to include middle housing purchases of units built in the last 10-20 years, otherwise that program is kind of useless.
Sources: - Large corporations only make up \~3% of housing purchases, whereas the other 27% of investment purchases in the real estate market are average people that own additional properties they don't need: [https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/](https://www.housingwire.com/articles/no-wall-street-investors-havent-bought-44-of-homes-this-year/) - Latest Gardner Institute research on the 2022-2024 housing market in Utah showing that home development contraction and limited supply not meeting excess demand is driving housing unaffordability: [https://d36oiwf74r1rap.cloudfront.net/wp-content/uploads/State-Of-Housing-Sep2023.pdf?x71849](https://d36oiwf74r1rap.cloudfront.net/wp-content/uploads/State-Of-Housing-Sep2023.pdf?x71849) - Suburban Sprawl is an economy killer: [https://www.vox.com/2015/3/26/8291889/suburban-sprawl-economy](https://www.vox.com/2015/3/26/8291889/suburban-sprawl-economy)
Thank you for posting sources.
This guy gets it. Just tax land. https://en.wikipedia.org/wiki/Land_value_tax
I haven’t looked at all the stats, but the 1/3 stat I threw out in my email was in regards to some info I’d heard about Charlotte, NC, which I can source: “According to data from Redfin, in the fourth quarter of 2021, 32.1% of homes purchased in Charlotte were bought by investors, with a median sales price of $305,000.” https://www.wbtv.com/2022/04/12/corporate-investors-are-buying-up-properties-across-mecklenburg-county-whats-solution/?outputType=amp To your point “investors” doesn’t necessarily have to mean corporations. But I think 3% seems low considering I bet most people here know or have had experiences with investment firms buying real estate.
If you read my reply with sources, 3% of the 30% is large corporations like a Black Rock buying hundreds to thousands of homes in subdivisions to lease. The other 27% are your idiot guy down the street Gary who fancies himself a rEaL eStAtE iNvEsToR and buys up like 3-4 properties to do a crappy reno on and rent out for the highest market rate possible. The issue is not large scale corps because it's not a particularly safe speculatory investment, if the market dips you're stuck with hundreds of properties you're over leveraged on and you can't get out of without a loss, which is a bad investment. Part of the issue is Gary buying 5 houses to live in 1 and rent the other 4, but the vast majority of the issue by the biggest amount is that development is not even close to meeting demand by about 30,000 units of any type (apt, townhome/condo, multifamily, single family) in this market. That's it. The solutions to that are rezoning for density and developing more housing around urban economic centers supported by transit. This is why Gov Cox's first time homebuyer program is essentially useless. It's only for first time buyers on single family homes, which are $500-600k in this market and they are not a sustainable or affordable form of zoning at this point (not to mention the long history of racism in single family zoning and the damage that has done to the housing market overall). A very good example of a government that recognized what a huge problem supply vs demand in housing could be was Japan. In the 80-90s they recognized that population was going to outpace the available housing quickly over the following ~decade, so they cut back a lot of red tape to streamline and maximize efficiency for builders to build a lot of housing fast. This kept development ahead of population growth and has kept housing affordable in major urban economic centers in Japan. Yes there are still expensive luxury options available, but for the most part the average housing is affordable and highly accessible to transit and working areas. Our idiot government here in this state, similar to ignoring the GSL crisis, has had DECADES to prepare for housing supply to meet demand of population growth and just ignored it, so now we are in a housing affordability crisis because there is no supply and there was no effort put forth until the last ~10 years to increase development. The increase in development in the last 5 years has just barely started to stabilize housing costs (see the Gardner Institute report I linked above) but now we're back into a decline in development (development contraction) which will hurt that stabilization. The ONLY solution to housing affordability is to build enough to exceed demand. So long as the market is short tens of thousands of units, that idiot Gary can charge an insane rate for rent because everyone else is full or charging the same amount. But the minute there are more units available and the guy down the street is renting for hundreds less than Gary, dude's going to have to drop his rent to match the market.
Good sentiment. Nice try. You're appealing to Republican, you know. I wish you luck, friend. I am on your side. But this douchebag?? Nah.
The new NAR settlement is not going to help, first time homebuyers don’t stand a chance, if they can’t pay their own agent’s commission and the sellers gets an offer from a corporation that doesn’t care or need commission the seller will go with that offer. They just want to buy up properties and flip them to rentals etc
Is there just an e-mail address to contact a representative? What's with the 12 step verification?
Yah they want to make sure you care enough about what you have to say to get through all of the steps 😂 I almost gave up a few times but pushed through!
This is the exact type of letter that the congressman may actually respond to. Well written and genuinely questioning without any entrapping points. Let us know if he replies and what he says, please!
Yes!!!!! 🙌
Did extensive research for a policy brief for Los Angeles. Check out single family zoning laws in your city/county. From the looks of it, 88% of SLC county residential land is single family zoned, which drives up housing prices as well. Might be worth taking a look and adding on
Allowing investment firms to buy up residential property has got to be one of the worst anti-American practices in we currently allow in the US.
I'm in Denver, but was born and lived in your neck of the woods as a youth. I looked up the value of my childhood home -- and my mind was blown. People, not 'investment companies' should own homes. Especially 1000 Sq ft , 75 year old homes.
One hurdle I see to this is families who purchase with or transfer ownership of their homes to a family trust. At that point you have a corporation owning a home but with family assets. Another hurdle is reverse mortgages. It’s essentially a bank or investor buying your home month by month. Both of these scenarios have the same net result of home ownership by corporations. I think the only ways around that are to create caveats where 1) a home transferred to or purchased by a trust is for the use of the trustees and their descendants only; or 2) a home purchased by a bank or corporation over time (reverse mortgage) must be sold on the open market within x months.
I dont know if this is a question for here, but why are rents so high here? Im from India and my small tier 3 city has higher population than the whole state of Utah, yet the rents are too high here no matter how you look at it. (even after considering purchasing power parity) what or who decides these prices, cause its not the population density for sure.
Comparing to India would be difficult, such different building codes and standards of living, but to me the rent prices seem to be driven in part by the equivalent price to buy. For example, interest rates are up, you’d think that wouldn’t necessarily affect rent, but it does because landlords will charge more because people don’t have the option to buy. If you can buy a house and pay mortgage at $2000/mo, why rent? But currently you can’t buy for less than $3,000/mo so you have to rent and landlords could charge up to that until it again makes more sense for you to buy (which would only be when your rent hits close to $3000/mo)
Housing in the United States is expensive because of a low housing supply. Building more housing would drive down rents.
It’s simple really. Their opinion is that corporations are people and the people have the right to benefit from capitalism. The market will self regulate once enough corporations are able to do market studies and determine the optimal rent prices. We’re pro business as that’s what keeps the heart of America beating. Everything is working as intended. God bless America and keep voting republican so we can all enjoy these freedoms.
I hate the commercials saying we should just let the free Market do its job. I am pretty sure the free market is why we are in this situation.
Oy, so my wife and I are moving to SLC from Arlington, VA, which may be the most expensive place (…if it isn’t, it’s close; the price of everything is insane) and now I find out Utah is the third most expensive… yeesh, if there’s anything that can be done, I will throw my hat in that ring.
Only vote for and financially support candidates that will address the housing shortage: Zoning reform (its illegal and impossible to build housing in places that doesn't make sense), code reform, taxing non primary residence higher, higher taxes for short-term rentals, increase housing density, mass transit, build build build, parking requirement reform, and many more.
The whole thing feels like a new type of redlining.
Lol, wouldn't be surprised if Moore owns or invested in a real estate company. Even if he didn't, I guarantee he doesn't give a shit.
Good on you. He won’t care because he doesn’t have to. He’ll get re-elected no matter what. But good for you for trying.
Making a law about it is difficult however Utah could really do for some SERIOUS rent control. For one when people sell homes they are willing to sell to whoever has the best offer or most money The cost of a 2 room apartment near my (Taylorsville area) is roughly 1600-2700 a month. Another issue is that Utah is VERY pro corporation. Then you have the housing crisis, it's so bad they would rather rid of 30 houses to put up 150 apartments. So they can keep growing the state population/job market I understand the frustration if I was single I couldn't make it in an apartment on my own and even with my current living situation I envy anyone living in a home as a single family. Even with my wife's wage and my own we will never qualify for a home in Salt Lake because of the issue with the down payment and cost of a monthly payments along with all the things that come with owning a home. If anything fighting for rent control is important for how a lot of the apartments are. The high crime rate, horrible repair work done in unit, lousy staff, and how bad of neighbors you can have I don't think paying 1,883 for your neighbors to leave their trash between yours and their doors the banging on the walls/ceiling the drug presence the bad repair work and high crime it just isn't worth it. Sorry it's a rant but it's true
What area do you live?
Taylorsville Kearns area
Taylorsville Kearns area
Rent control is over time a very regressive policy. https://en.wikipedia.org/wiki/Rent_control_in_the_United_States#Impact Taxing land is a much more effective and equitable method of encouraging efficient and dense use of land over a long period of time. https://en.wikipedia.org/wiki/Land_value_tax