cross-posted from: https://discuss.online/post/42571735
As CBS News Atlanta previously reported, more than one in four single-family rental homes in metro Atlanta are owned by large corporate investors — more than 72,000 homes — giving the region one of the highest concentrations of institutional ownership anywhere in the United States.
Housing advocates have argued that those companies can outbid families with cash offers, reducing the number of homes available to first-time buyers while contributing to higher home prices and rents.
Warnock has repeatedly cited those trends in pushing the legislation, saying corporate investors have increasingly treated homes as financial assets instead of places for families to live.
Now do fucking apartment complexes so we can get back to local ownership, thanks. If I have to fucking rent, can we at least not have it be these faceless corporations that you can only communicate with via their website and not a fucking human.
So, what’s the loophole?
Corporations can still own up to 350 homes per investor group, and they can keep the ones they already own.
They are limited to 350. The law does prevent subsidiary and shell games, at least an attempt.
350 is so many!!! Wtf
No loophole. It’s just that the law, itself, is weaksauce bs and is mostly bluster that accomplishes little more than making politicians look good before the midterms. It’s mostly remarkable that such a huge piece of bs got passed by a supermajority and by such a hatefully divided congress, and that, right at the moment of triumph, Trump tried to sabotage it by holding it hostage to his Make Elections Corrupt Act, and refused to sign the bill.
But, because it passed with a supermajority in both houses of congress, it just became law anyway without the president’s signature, making Trump look like an even bigger embarrassment than he already is, not to mention a bigger loser than he already is. That’s what makes it such a big deal. He’s the first president who’s ever thrown this big of a bitch fit over a congressional bill he didn’t like. And still lost the fight anyway.
The bill, itself, has a few good things in it, but is mostly just meh.
I, too, am waiting for the other shoe to drop.
Alternative to CBS.
