I still have no clue why Conservatives would be on board with the Housing Act. It might help people who can't afford homes, bankers, and landlords/developers at the cost of the other 2/3rds of society. Basically, like every other sh#t bill the Federal Government has passed the last 3 decades. Conservatives should be abolishing HUD.
I haven't bothered to read it. My default mode with new legislation is somebody is gonna take it up the ace, and it won't be the people writing it.
Hope is not optimism, which expects things to turn out well, but something rooted in the conviction that there is good worth working for. - Seamus Heaney, Irish poet and likely Hoosier basketball fan.
POTFB
@hooky I just saw some highlights. Biden’s free cheese gave us historic inflation. Rate tempered after he was blocked but costs didn’t come down. Trump has done nothing to ameliorate it and probably made it worse. This gives both parties ammo to say at least they did something about costs.
in practice not sure how much any of it will help. Provisions for manufactured homes etc will hit nimby. Reduced bureaucracy and red tape isn’t all that germane. Building red tape is local not federal. And sometimes really local. Board of adjustment muny dipshits. I like the limits on investors gobbling up single family homes. But I suspect there’s ways to circumvent same. Shit ton of LLCs etc.
anyway. Time for Norway England. That’s going to be a bunch of pasty mofos getting a taste of Miami in July
I haven't bothered to read it. My default mode with new legislation is somebody is gonna take it up the ace, and it won't be the people writing it.
The big talking point was it would limit large corporations from buying up single family housing. The problem is it's not an issue. According to Grok:
Approximately 140 entities qualify as large institutional investors owning 350 or more single-family homes under the bill’s definition.
These investors collectively control roughly 530,000 single-family homes, representing about 0.59% of the total U.S. single-family housing stock.
And the bill incentivizes more low income housing, which in turn disincentivizes other types of housing, like single family homes.
Grok: The bill’s increase in the Public Welfare Investment (PWI) cap from 15% to 20% is projected to unlock several billions of dollars in additional private bank capital for affordable housing projects, particularly Low-Income Housing Tax Credit (LIHTC) developments.
• A survey of 22 banks representing over $14 billion in 2024 Housing Credit investments found that 42% ($6.1 billion) came from institutions nearing the old 15% cap, indicating the change will meaningfully expand capacity.
• Exact totals are not fixed as they depend on bank behavior and market demand, but lawmakers and advocates describe it as mobilizing billions annually in private investment without direct federal spending.
@hooky I just saw some highlights. Biden’s free cheese gave us historic inflation. Rate tempered after he was blocked but costs didn’t come down. Trump has done nothing to ameliorate it and probably made it worse. This gives both parties ammo to say at least they did something about costs.
in practice not sure how much any of it will help. Provisions for manufactured homes etc will hit nimby. Reduced bureaucracy and red tape isn’t all that germane. Building red tape is local not federal. And sometimes really local. Board of adjustment muny dipshits. I like the limits on investors gobbling up single family homes. But I suspect there’s ways to circumvent same. Shit ton of LLCs etc.
anyway. Time for Norway England. That’s going to be a bunch of pasty mofos getting a taste of Miami in July
The limit on investors is a non-issue. They set the bar high enough so it doesn't do anything meaningful.
in practice not sure how much any of it will help. Provisions for manufactured homes etc will hit nimby. Reduced bureaucracy and red tape isn’t all that germane. Building red tape is local not federal. And sometimes really local. Board of adjustment muny dipshits.
Yeah, it's a local problem that the feds can't really address. Biggest problem is the NIMBY crowd and restrictive zoning that results in all new housing being McMansions or high rise apartments.
@unclemark in part. the mcmansions are partly developers fault. my pop was a nailpounder during the height of the development phase. i represented his boss who was the big wig for many years. guy made stupid money. both he and my pop told me they made those mcmansions because there was just no money/margins in 1500 sq foot houses. 3,000 mcmansions is where the money was for developers. no idea if true but they would know.
@hooky I just saw some highlights. Biden’s free cheese gave us historic inflation. Rate tempered after he was blocked but costs didn’t come down. Trump has done nothing to ameliorate it and probably made it worse. This gives both parties ammo to say at least they did something about costs.
in practice not sure how much any of it will help. Provisions for manufactured homes etc will hit nimby. Reduced bureaucracy and red tape isn’t all that germane. Building red tape is local not federal. And sometimes really local. Board of adjustment muny dipshits. I like the limits on investors gobbling up single family homes. But I suspect there’s ways to circumvent same. Shit ton of LLCs etc.
anyway. Time for Norway England. That’s going to be a bunch of pasty mofos getting a taste of Miami in July
The limit on investors is a non-issue. They set the bar high enough so it doesn't do anything meaningful.
Investors probably focus on areas of quick growth. There are many neighborhoods in Hamilton County that have had investors buying up houses and charging high rent. People being able to sell their houses at higher prices to these investors has a direct effect on property taxes and home values increasing.
So no, it is not a non-issue.
@hooky I just saw some highlights. Biden’s free cheese gave us historic inflation. Rate tempered after he was blocked but costs didn’t come down. Trump has done nothing to ameliorate it and probably made it worse. This gives both parties ammo to say at least they did something about costs.
in practice not sure how much any of it will help. Provisions for manufactured homes etc will hit nimby. Reduced bureaucracy and red tape isn’t all that germane. Building red tape is local not federal. And sometimes really local. Board of adjustment muny dipshits. I like the limits on investors gobbling up single family homes. But I suspect there’s ways to circumvent same. Shit ton of LLCs etc.
anyway. Time for Norway England. That’s going to be a bunch of pasty mofos getting a taste of Miami in July
The limit on investors is a non-issue. They set the bar high enough so it doesn't do anything meaningful.
Investors probably focus on areas of quick growth. There are many neighborhoods in Hamilton County that have had investors buying up houses and charging high rent. People being able to sell their houses at higher prices to these investors has a direct effect on property taxes and home values increasing.
So no, it is not a non-issue.
He's saying the legislation is a non-issue as it relates to stopping investors frim buying up houses. It doesn't do anything and is just an opportunity for them to say they did something ahead of the midterms without actually doing anything meaningful.
Hope is not optimism, which expects things to turn out well, but something rooted in the conviction that there is good worth working for. - Seamus Heaney, Irish poet and likely Hoosier basketball fan.
POTFB
@hurryinghoosiers 99.4% of single family homes are exempt from it because they fall under the threshold or aren't owned by investors. And they're not forcing those over the threshold to sell (nor should they). So, whatever the issue is the bill isn't fixing it.