Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There have always been a lot of socialist undertones in MN. They should have learned their lesson, when the undesirables from Chicago came for all the "free stuff."
HF 685 is being drafted right now in the MN House with the following description:
"Corporate entities, developers, and contractors prohibited from converting single-family home into rental property unit." https://www.revisor.mn.gov/bills/bil...5&ssn=0&y=2023
That would be awesome!
Houses were designed for families to live in, not for corporate profits.
Corporate investors are buying up way too many homes in the Twin Cities, including houses, and a growing number of them are not even based in MN. We have corporations in other states, and even other countries, that buy up houses in MN. I recently read that there's a huge number of renter complaints about corporate landlords not fixing things and stuff. Corporations shouldn't own houses.
I'd totally support this law if it passed. If it doesn't, they should at least ban corporations from outside the state or country from doing it.
Houses were designed for families to live in, not for corporate profits.
Corporate investors are buying up way too many homes in the Twin Cities, including houses, and a growing number of them are not even based in MN. We have corporations in other states, and even other countries, that buy up houses in MN. I recently read that there's a huge number of renter complaints about corporate landlords not fixing things and stuff. Corporations shouldn't own houses.
I'd totally support this law if it passed. If it doesn't, they should at least ban corporations from outside the state or country from doing it.
Aren't renters generally families who live in the house they are renting?
So, only people who can afford to buy and maintain a SFH are allowed to live in a SFH? That sounds mean-spirited and exclusionary. Everyone else has to rent an apartment and stuff their families into those multi-family buildings?
Aren't renters generally families who live in the house they are renting?
So, only people who can afford to buy and maintain a SFH are allowed to live in a SFH? That sounds mean-spirited and exclusionary. Everyone else has to rent an apartment and stuff their families into those multi-family buildings?
Well, US legislators have abundantly proven through the decades that they are almost universally unable to anticipate unplanned consequences. I don't think most of them could anticipate lunch, to be quite honest. Generally you've got to take three or four of them together to get enough IQ points to make up an average eighth-grader.
Houses were designed for families to live in, not for corporate profits.
Corporate investors are buying up way too many homes in the Twin Cities, including houses, and a growing number of them are not even based in MN. We have corporations in other states, and even other countries, that buy up houses in MN. I recently read that there's a huge number of renter complaints about corporate landlords not fixing things and stuff. Corporations shouldn't own houses.
I'd totally support this law if it passed. If it doesn't, they should at least ban corporations from outside the state or country from doing it.
Who built the house? A corporation. Who sold the house? A national brokerage, also a corporation. Who made the loan? A corporation. Who actually owns the house, that is mortgaged? A corporation. How would you feel if MMM was banned in your neighboring states? How many people with diabetes grew up on General Mills?
Yes, and the above is exactly why I said that if this bill passes, there will be many litigations to determine what are allowable limitations and what are not. it might be 20 years before the whole thing settles down. While this might have the effect of causing large property-owning corporations to pause investment in Minnesota, it'll also have the effect of causing small landlords to hesitate before investing, and combined with other nonsense like squatters' rights, it may well cause a lot of those small landlords to pull out. When they pull out, there'll be some big corporations (the less scrupulous ones that are more heavily lawyered and ready for a fight) to come in and scoop up still more houses.
The devil's in the details and in the unintended consequences and so far in the 50 years I've been following US politics I have almost never seen an ability in legislators to evaluate said unintended consequences. Let's face it, they're not the sharpest knives in the drawer.
The large landlords doing the huge buy-ups and funding “build to rent” areas are the ones distorting the property market - not Jim Bob with two houses.
Aren't renters generally families who live in the house they are renting?
So, only people who can afford to buy and maintain a SFH are allowed to live in a SFH? That sounds mean-spirited and exclusionary. Everyone else has to rent an apartment and stuff their families into those multi-family buildings?
There were plenty of rental units available in the Twin Cities before large corporations from other states and countries started buying up all the housing, including buying up SFH.
Meanwhile, rentals are filled with people who want to own their own home, but can't afford it because investors keep hoarding them and driving up the prices, so they're trapped in rentals.
Don't say I'm "mean-spirited" because I want SFH to be affordable, so that more people can live the American Dream. You're the one who is arguing in favor of denying that dream to people, so that rich people can hoard housing and force the working class to pay landlords for housing.
Last edited by tlarnla; 03-04-2023 at 07:32 PM..
Reason: grammatical error
Corp landlords sell. New housing stock doesn't get built because market prices aren't sufficient to justify the cost of building. Rental stock decreases. Rents increase. Homeownership is still out of reach.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
