FenrirIII@lemmy.world to politics @lemmy.world · 22 days agoThe Stop Wall Street Landlords Act has been introduced in Congress by Rep. Ro Khanna. The bill would raise taxes on the purchase of single family homes by private equity and corporations.www.notus.orgexternal-linkmessage-square59fedilinkarrow-up1683arrow-down12file-text
arrow-up1681arrow-down1external-linkThe Stop Wall Street Landlords Act has been introduced in Congress by Rep. Ro Khanna. The bill would raise taxes on the purchase of single family homes by private equity and corporations.www.notus.orgFenrirIII@lemmy.world to politics @lemmy.world · 22 days agomessage-square59fedilinkfile-text
minus-squarefinitebanjo@lemmy.worldlinkfedilinkarrow-up2·edit-221 days agoFinancing. The shell-owners would get paid to be a shell, and the properties would get financed under their names, thus circumventing the law. Because what I described above could be considered tax evasion, that is why it becomes another new problem when dealing with foreign investors. The US Government sells seized real estate dirt cheap, but that negatively impacts the shell owners who could fight it in court.
Financing.
The shell-owners would get paid to be a shell, and the properties would get financed under their names, thus circumventing the law.
Because what I described above could be considered tax evasion, that is why it becomes another new problem when dealing with foreign investors.
The US Government sells seized real estate dirt cheap, but that negatively impacts the shell owners who could fight it in court.