1466
submitted 11 months ago by return2ozma@lemmy.world to c/news@lemmy.world
top 50 comments
sorted by: hot top controversial new old
[-] Coldgoron@lemmy.world 241 points 11 months ago

Fucking do it you cowards.

[-] lolcatnip@reddthat.com 63 points 11 months ago

I think you're forgetting about Republicans.

[-] jonne@infosec.pub 84 points 11 months ago

Or more than half of the democrats that do Wall Street's bidding too.

[-] crypticthree@lemmy.world 47 points 11 months ago

Or the courts that would throw the law out as soon as it gets challenged the first time

load more comments (1 replies)
[-] Ashyr@sh.itjust.works 204 points 11 months ago

They should never have been allowed to buy them to begin with.

The second best time is now.

[-] Froyn@kbin.social 59 points 11 months ago

People require housing. Corporations are people. /s

load more comments (4 replies)
load more comments (50 replies)
[-] Drusas@kbin.social 155 points 11 months ago

And this is the sort of legislation that should be passed by direct referendum, will of the people, and not by representatives who have been bought out by special interest groups. Desperately needed but unlikely to happen.

[-] _number8_@lemmy.world 51 points 11 months ago

the country would function so much better if we just sent out ballots to everyone to vote on every bill if they want to

[-] jettrscga@lemmy.world 82 points 11 months ago

That's how Brexit happened in the UK.

I agree about not trusting the politicians, but not sure I trust the general public much more unfortunately.

load more comments (13 replies)
[-] surewhynotlem@lemmy.world 62 points 11 months ago

I non-sarcastically love your optimism. But part of me really believes that 50% of the country votes however their church tells them to. So I'm not sure it'd be better.

load more comments (3 replies)
[-] kpw@kbin.social 19 points 11 months ago

I would be very careful with that. US should try having a more representative government first.

load more comments (4 replies)
load more comments (9 replies)
[-] Sabata11792@kbin.social 149 points 11 months ago

This will pass at the same time as the healthcare, world peace, and word hunger bills.

[-] SCB@lemmy.world 60 points 11 months ago

From the article:

With a divided Congress, the bills are unlikely to pass into law this session. But Mr. Smith said legislators needed to start a conversation.

Solid odds this will be a campaign issue, which is a great thing.

[-] Altofaltception@lemmy.world 23 points 11 months ago

It will be a campaign issue and then nothing will be done about it. Fingers will be pointed.

load more comments (4 replies)
load more comments (6 replies)
load more comments (38 replies)
[-] NutWrench@lemmy.ml 88 points 11 months ago

Looking at companies like Blackstone, who buy up houses at auction, lightly flip them and put them back on the market as high-priced rentals. THEY'RE the big reason for the lack of affordable housing.

load more comments (20 replies)
[-] penquin@lemm.ee 69 points 11 months ago

Capitalism and its endless profit motive should never be near the things that have direct effect on people's well-being and livelihood. All the human basic necessities should be capitalism free, housing, healthcare, education.... etc... If you want to built a better and healthier nation of course, but no one cares about the nation, money is above everything to these sick fucks.

load more comments (14 replies)
[-] Mobiuthuselah@lemm.ee 48 points 11 months ago

How does this limit a corporation from doing the same thing?

So a hedge fund doesn't do it, but a specific company does the same thing and that's fine. What am I missing?

[-] vitamin@infosec.pub 45 points 11 months ago

The bill would require hedge funds, defined as corporations, partnerships or real estate investment trusts that manage funds pooled from investors, to sell off all the single-family homes they own over a 10-year period, and eventually prohibit such companies from owning any single-family homes at all.

It does include corporations. For instance the Bezos thing we've been hearing about the past couple days would be covered:

Arrived, a young real estate company backed by Amazon.com Inc. founder Jeff Bezos, has just announced its entry into the single-family rental fund space. Arrived currently operates a fractional real estate investing platform that has attracted nearly half a million retail investors since its launch in 2021. The platform allows these investors to purchase shares of single-family rental properties with as little as $100.

https://finance.yahoo.com/news/jeff-bezos-backed-real-estate-151102586.html

[-] vitamin@infosec.pub 17 points 11 months ago

Just so it's clear, they want to turn our homes into a mini stock market.

This bill won't pass.

We already live in a completely fucked up dystopia, most people just haven't realized it.

load more comments (1 replies)
[-] mojo@lemm.ee 37 points 11 months ago

If we actually had a democracy, there would be a total of 0 people against this. It's so incredibly unfavorable to want corporations to buy houses for profit.

load more comments (2 replies)
[-] wetnoodle@sopuli.xyz 34 points 11 months ago

Inb4 the Republicans vote it down

load more comments (2 replies)
[-] newthrowaway20@lemmy.world 31 points 11 months ago

Please do. I'd love to see more supply.

[-] Talaraine@kbin.social 30 points 11 months ago

Home Ownership and protecting the middle class used to be phrases so often uttered by the Republicans 40 years ago that I yawned.

I'm glad to see someone pick up the gauntlet. Boggles the mind that this hasn't become a huge political issue yet.

[-] affiliate@lemmy.world 27 points 11 months ago

it’s cool they had the idea. hopefully they act on it

[-] StevenWithaPH@lemmy.world 27 points 11 months ago

Now what’s the chance of this actually passing?

[-] cryptosporidium140@lemmy.world 43 points 11 months ago

Via referendum? I say 80% chance of a majority.

Congress? 5% is generous

load more comments (1 replies)
[-] morrowind@lemmy.ml 16 points 11 months ago

With a divided Congress, the bills are unlikely to pass into law this session. But Mr. Smith said legislators needed to start a conversation.

:|

load more comments (7 replies)
[-] ICastFist@programming.dev 26 points 11 months ago

Please make it happen, it's an important first step

[-] _number8_@lemmy.world 25 points 11 months ago

why were they ever allowed to do this? why should the system allow you to gamble on houses?

[-] girlfreddy@sh.itjust.works 23 points 11 months ago* (last edited 11 months ago)

Because they saw an opportunity to fuck America again after imploding Wall St in 2007-08.

Rampant unfettered capitalism only cares about the money they can make, never about the people's lives they destroy.

[-] n3m37h@sh.itjust.works 22 points 11 months ago

Who ever tabeled this needs to run for your president. Seriously

[-] TheTimeKnife@lemmy.world 20 points 11 months ago

Step in the right direction, hope some version of it gets passed.

load more comments (2 replies)
[-] SCB@lemmy.world 18 points 11 months ago

Wall Street is not the problem, a lack of new housing is, according to David Howard, the chief executive of the National Rental Home Council, a trade association. The country needs anywhere from 2 million to 6.5 million units of new housing, according to various estimates.

“Policies really need to be shaped and crafted so that they support the production, investment and development of new housing,” Mr. Howard said. “I think bills that work against that ultimately are just going to perpetuate the challenges we’re already facing.”

While I certainly disagree with this person on some of their specifics, and don't necessarily agree with the "teeth" of this bill (10k per home owned isn't that much in the grand scheme of things, and can just be priced in to an already out-of-control market), seeing a trade organization argue for the actual long-term solution bodes really well for the future of solving the housing crisis.

[-] RaoulDook@lemmy.world 24 points 11 months ago

That's crazy that they say we need more housing when there are so many empty houses sitting on the market from corporate real estate investing and other house flippers. "Wall Street is not the problem, a lack of new housing is" really sounds like the guy with gasoline and matches in hand saying "it wasn't me" at the scene of an arson fire.

load more comments (15 replies)
load more comments (10 replies)
[-] 1luv8008135@lemmy.world 18 points 11 months ago

What about private equity?

load more comments (1 replies)
[-] AnneBonny@lemmy.dbzer0.com 16 points 11 months ago
[-] doctorcrimson@lemmy.today 15 points 11 months ago

DNC really driving it home what their platform is with actions instead of words, lately.

[-] ohlaph@lemmy.world 15 points 11 months ago

I do like this.

load more comments
view more: next ›
this post was submitted on 07 Dec 2023
1466 points (99.4% liked)

News

23287 readers
4439 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS