Democrats Introduce Bill Banning Hedge Funds From Owning Single-Family Homes

[bourgeoisie tall freak]

The dems did so fukking little when they had the power for 2 years this guy doesn’t even remember it tell me more about how this isn’t just political theater @CrimsonTider

don't know if you remember and it doesn't even sound like you care about actual factors, but folks thought the market was going to correct itself when "they had the power". i know at least i was stacking my coins waiting for the dip lol. it didn't so know they are trying something else

 

[Absolut]

don't know if you remember but folks thought the market was going to correct itself when "they had the power". it didn't so know they are trying something else

Idiots thought the market would fall out. But this ain’t a new problem. Why not try to fix it then? That’s my whole point. Others points in here as well. “See who votes this down” rather than actually passing it? Congrats. No one next November is changing a vote in the presidential election based on who votes for a hedge fund homeowner bill

 

[bourgeoisie tall freak]

Idiots thought the market would fall out. But this ain’t a new problem. Why not try to fix it then? That’s my whole point. Others points in here as well. “See who votes this down” rather than actually passing it? Congrats. No one next November is changing a vote in the presidential election based on who votes for a hedge fund homeowner bill

yeah dems gonna win either way and idk why you would interfere in the market when you think it's going to correct itself. that doesn't make much sense to harp on someone for not doing something when all the expert were saying that nothing needed to be done. it's giving looking for something to bytch about.

 

[At30wecashout]

Building generational wealth is very awful

Based on housing it is. The fact that people's retirement vehicle is predicated on housing continuing to go up in price is problematic. We can do better than that.

 

[Absolut]

yeah dems gonna win either way and idk why you would interfere in the market when you think it's going to correct itself. that doesn't make much sense to harp on someone for not doing something when all the expert were saying that nothing needed to be done. it's giving looking for something to bytch about.

So you think this bill shouldn’t even come now, or then? Just a shyt bill? One of those “yea the housing market will crash trust me” types that been flat out wrong for 4 years? What experts said it would crash besides Reddit and YouTube grifters

 

[bourgeoisie tall freak]

So you think this bill shouldn’t even come now, or then? Just a shyt bill? One of those “yea the housing market will crash trust me” types that been flat out wrong for 4 years? What experts said it would crash besides Reddit and YouTube grifters

well for one, i didn't say crash, i said a correction. and, there was a point where prices went down for months in 2022.

 

[Secure Da Bag]

Isn't Amazon buying up houses too? How does this bill affect that?

 

[Absolut]

well for one, i didn't say crash, i said a correction. and, there was a point where prices went down for months in 2022.

Other than the timing (too late, won’t pass) what’s the issue with the bill itself?

 

[bourgeoisie tall freak]

Other than the timing (too late, won’t pass) what’s the issue with the bill itself?

i didn't read it. but knowing the dems, it's probably good for the people

 

[Absolut]

i didn't read it. but knowing the dems, it's probably good for the people

Hence why they are looking to point a finger to why it doesn’t pass instead of actually passing it

 

[bnew]

---

https://www.reuters.com/legal/litigation/dc-sues-tech-company-realpage-landlords-over-rental-prices-2023-11-01/

DC sues tech company RealPage, landlords over rental prices​

By Mike Scarcella
November 2, 202311:40 AM EDTUpdated a month ago

A "For Rent" sign is displayed in front of an apartment building in Arlington, Virginia, U.S., June 20, 2021. REUTERS/Will Dunham/File Photo Acquire Licensing Rights

• Companies
• Law Firms

• Realpage, Inc.
  Follow

Nov 1 (Reuters) - The District of Columbia's attorney general on Wednesday sued property management platform RealPage and more than a dozen of the city's largest apartment building landlords, accusing them of a scheme to artificially fix rental prices in violation of U.S. antitrust law.
The lawsuit filed in D.C. Superior Court marks the first government antitrust enforcement action against RealPage since last year, when it was hit with more than two dozen private civil lawsuits that are now consolidated in Nashville, Tennessee, federal court.

U.S.-based plaintiffs' law firm Cohen Milstein Sellers & Toll filed the complaint with lawyers from the D.C. attorney general's office, led by Attorney General Brian Schwalb. Cohen Milstein and other private firms have also worked with the office on other civil lawsuits.
In a statement, Schwalb said landlords conspired to keep rental prices high using RealPage's revenue management platform. The attorney general's office said District residents had paid "millions of dollars above fair market prices."

Richardson, Texas-based RealPage has denied any wrongdoing in the earlier cases, and it said it would contest the new D.C. case as well.
"In seeking to draw a causal connection between revenue management software like ours and increases in market-wide rents, this copycat suit repeats the inaccuracies of predecessor cases," RealPage spokesperson Jennifer Bowcock said.
Bowcock said the District's "complaint and others like it are wrong on both the facts and the law and we will vigorously defend against it."

RealPage, once a public company, is owned by Chicago-based private equity firm Thoma Bravo, which completed its acquisition in 2021.
The District's lawsuit alleged 14 landlords had "conspired to share information, limit supply, and drive up rents" using RealPage's software. It seeks triple damages and other relief "to restore competitive conditions."
"In a truly competitive market, one would expect competitors to keep their pricing strategies confidential — especially if they believe those strategies provide a competitive edge," the lawsuit said.

It said RealPage's revenue software "is used to set the rents at more than 50,000 units in the District — a sizable portion of its available housing."
Cohen Milstein's contract said it would receive 15% for any pre-trial recovery and 18% post-trial recovery in the litigation, but no compensation if the city's case fails.
The case is District of Columbia v. RealPage Inc et al, Superior Court of the District of Columbia, unassigned.
Read more:
RealPage antitrust lawsuits over rent prices consolidated in Tennessee
Chicago, DoorDash clash over city's use of private law firm
Get the latest legal news of the day delivered straight to your inbox with The Afternoon Docket.
Our Standards: The Thomson Reuters Trust Principles.

 

[bnew]

https://archive.is/VGxov

Spoiler: text

Year	1960s	1970s	1980s	1990s	2000s	2010s 4	2023
Housing Price	$11,900	$17,000	$48,000	$76,000	$105,000	$285,000	$436,000
Interest Rate	7%	7.3%	13.7%	10%	8%	3.87%	7.5%
Principal & Interest 1	$105	$135	$446	$534	$616	$1,707	$2,433
Average Rent	$71	$125	$243	$447	$602	$923	$2,000
Income Used to Pay Mortgage	22%	18%	25%	21%	17.6%	36.6%	36%
Income Used to Pay Rent	15%	17.2%	14%	18%	17.2%	19.8%	29%
Median Household Income 2	$5,600	$8,730	$21,000	$30,000	$42,000	$55,775	$81,000
Senator Annual Pay	$30,000	$44,000	$75,000	$133,600	$162,000	$174,000	$174,000
AVG CEO Pay - Top 500 3	$953,000	$1.6M	$3.4M	$6.9M	$22.8M	$25M	$29M
CEO-to-worker compensation ratio 3	15.4	20.6	38.8	170.7	237.7	220	398

_

1: 20% downpayment over 20 years.

2: Average income for a family of 4.

3: Ceo realized annual salary in the us.

4: Affected by the 2008 collapse.

_

///

Since the 1960s-1980s, housing development is at 1/10th -1/15th of the rate of those years. With the cost of materials rising as well as many more requirements to adhere to building codes, and requirements to acquire permits, which can take upwards of 6-12months or more to get. Housing development is coming to a standstill as developers cannot cover the cost of materials as their profit margins are becoming very low thus making the projects put on hold which has resulted in about 2/3rds of all current building projects to be paused.

The average contractor is also gone up from around mid 20s to late 30s early 40s... There just aren't enough new people coming into the business. There is a huge demand for housing and in general the public supports things liek government housing and developments, until the government housing is in their own neighborhood then they vote for the party that doesn't support government housing.

As well as around 60% of all home ownership is by self-owners, who are using the increased values of their properties to re-mortgage and finance their lifestyles. Buy investment properties and use funds to finance their other projects. 20% are corporations and 20% and secondary homes as investment properties. The 20% of corporations also include homeowners who incorporate to buy and manage multiple investment properties.

They all vote to maintain and increase the values of their own properties, they have no incentive to lessen the value of their properties. They know the market is unachievable for the masses, but if the choice is between allowing their properties to lose value to allow younger generations a foot in the door to buy properties, vs maintaining and increasing property values and worsening the economic standing of future generations, they are in masse chosing the latter.

in 2022 only 105M voters voted. Over 148M did not vote. Only 1 out of 5 eligible voters under the age of 35 voted. in some states only 15% of those under the age of 35 voted. If you want to change the direction of the country and you want to make a future that is livable for not only our kids but their kids and their kids, then i emplore you to sign up and register to vote. Because getting 60 senators isnt a far unachievable goal, just 800K votes in 2020 over 3 states, where 25M eligible voters didnt vote, would have given democrats 5 more senators, and would have stopped 90% of the bullshyt that mancin and sinema did to water down bills and stop bills. It would also had removed the ongoing fight against womens rights to choose over their own bodies. and the current boogeyman culture war that republicans are pushing. In states where democrats have achieved enough seats, like minnesota, they are implementing, rent control, paid parental leave, ban on corporate buying of rental properties, food for school children, paid sick days. and many more things. The most basic and base action you as a citizen can do, is to vote. Please vote!

////

sources:

https://www.epi.org/publication/ceo-pay-in-2022/#fig-a https://www.cnbc.com/2017/07/20/how-much-money-ceos-have-earned-over-the-years.html https://www.census.gov/library/publications/2023/demo/p60-279.html https://dqydj.com/historical-home-prices/ https://tradingeconomics.com/united-states/average-house-prices https://ipropertymanagement.com/research/average-rent-by-year https://www.cnbc.com/2017/06/23/how-much-housing-prices-have-risen-since-1940.html https://www.senate.gov/senators/SenateSalariesSince1789.htm

 

[bnew]

https://archive.is/ZNEu5

 

[bourgeoisie tall freak]

Hence why they are looking to point a finger to why it doesn’t pass instead of actually passing it

why tf shouldn't they point the finger at those who vote it down for no reason other than party lines? make it make sense.

like, once again as you did with the whole "why didn't they do it sooner" spiel, you are focusing on things that don't make sense.

think!

 

[bnew]

Hence why they are looking to point a finger to why it doesn’t pass instead of actually passing it

if dems vote unanimously for the bill and it still fails, why shouldn't they point their fingers and blame the people who thwarted it?