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General discussion, but I’ll start with my 3 point plan to alleviate this mess.
1. Private equity firms are only allowed to own and buy a set low percentage of houses in the market and are only allowed to buy a house after it’s been on the market for at least 3 months.
2. You can only own 2 houses in the state of your primary residency, 1 in a state that isn’t.
3. No foreign investment. If you don’t live here then you can’t buy a house. Related to that, you have to be a legal US resident for at least 2 years before you can buy a house.
This only applies to single family houses. If you want extra income property or to run a personal rental empire then you’ll have to do it with multi-family buildings – duplexes and above. If you currently fall outside these rules then you’ll be selling those houses.
There, I fixed it.
1. Private equity firms are only allowed to own and buy a set low percentage of houses in the market and are only allowed to buy a house after it’s been on the market for at least 3 months.
2. You can only own 2 houses in the state of your primary residency, 1 in a state that isn’t.
3. No foreign investment. If you don’t live here then you can’t buy a house. Related to that, you have to be a legal US resident for at least 2 years before you can buy a house.
This only applies to single family houses. If you want extra income property or to run a personal rental empire then you’ll have to do it with multi-family buildings – duplexes and above. If you currently fall outside these rules then you’ll be selling those houses.
There, I fixed it.