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n. Illinois | Some context is needed for this debate.
There are roughly 92-95 million single family dwellings in the United States. So 343,000 is .3% of the total housing stock. There is roughly 4.5 to 5.5 million of them sold every year or roughly 5% annual turnover rate. There is roughly 700,000 new ones built every year.
In the big picture these large private equity entities are not what is driving up the value of single Family dwellings. They might effect some small local areas, but even there its probably overblown to gain political capital to attack the other guy.
If Trump wants to do something to keep them out of the Single Family Dwelling market, Go after their tax deductions. Eliminate depreciation and interest deductions on entities that have exceed some pre determined limit base it on # of units, Gross Rental income Number of shareholders in the entity etc. Limit the use of Serial LLC's to subvert the rules. Lot easier changing IRS regs vs attacking the right to own property in the United States. that is not a line you want to cross because the left will use it to their advantage and much more destructively too.
Every small town in the Midwest has multiple people making a living owning multiple rental units in that town. You do not want to attack them. | |
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Scott Bessent on home ownership
