Naïve observers
blame the corporate landlords for the rising prices and rents. And, so, now, at
several levels of government, bills are being proposed to exclude these buyers from the market. If we can keep Wall Street money out of local housing markets, prices will go back down. This is true. Rents, then, would continue to go up.
This is worrisome. This is the last round of the vicious cycle.
Let’s review our national devolution. In turns, we have restricted:
- All housing in a few key metro areas.
- Multi-family or infill housing in every major metro area.
- Single-family mortgaged entry level homes in every major metro area. And now, potentially,
- New single-family rental homes.
That is all the forms of housing, short of tents and underpasses. We are one step away from legislating mass homelessness.
