On The Market

VP Harris Wants to Stop Wall Street Homebuying, But Will It Help Regular Buyers?

Aug 22, 2024

Kamala Harris, the Vice President and advocate for first-time homebuyers, discusses her plan to curb Wall Street's influence on home buying. She argues that limiting institutional investors could help regular buyers break free from renting. The conversation also dives into the surprising surge in eviction filings in the Sunbelt despite falling rent prices, raising questions about housing affordability. Lastly, the impact of declining commercial real estate on property taxes is examined, highlighting the complex dynamics of today's housing market.

46:47

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Episode guests

Kamala Harris

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Episode notes

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Quick takeaways

Kamala Harris' proposal aims to restrict institutional investors in homebuying to boost accessibility for first-time homebuyers, but its effectiveness is debated.

Despite a decline in apartment rents across the U.S., eviction filings have surged, indicating economic strain on renters amid rising living costs.

Deep dives

Kamala Harris's Housing Proposals

Vice President Kamala Harris has proposed significant changes to the housing market as part of her presidential campaign. Her proposals include the 'Stop Predatory Investing Act,' aimed at restricting large investors from purchasing large numbers of single-family homes by removing tax benefits. Additionally, she advocates for $25,000 in down payment assistance for first-time homebuyers and plans for constructing 3 million new housing units. While some experts believe these initiatives could enhance affordability, others express concern that they may inadvertently harm smaller investors and the overall dynamic of the housing market.

Intro

3min

Challenges in Affordable Housing

7min

Essential Services for Real Estate Investors

2min

Wall Street's Influence on Housing Market Trends

15min

Ensuring Real Estate Success: The Importance of Insurance and Reliable Lending

2min

Surge in Evictions: A Closer Look at the American Sunbelt

2min

Downtown Dilemmas: Landlords and Local Economies

12min

Challenges of Property Taxation and its Community Impact

4min

Kamala Harris has a plan to make it easier for first-time homebuyers to buy a house, but it comes at the expense of institutional investors. Eviction filings surge throughout the Sunbelt states, EVEN as apartment rent prices fall across all bedroom counts. And could commercial real estate’s struggles lead to you paying even higher property taxes? We’re getting into it all in today’s headlines show!

First, we’re talking about Kamala Harris’ new proposal to kick Wall Street out of the single-family homebuying arena, potentially opening up space for first-time homebuyers to finally break out of renting. The proposal sounds promising, but is it too late to actually impact today’s housing market when institutional investors take up such a small amount of the single-family supply? We’re giving our takes on the new proposal.

Apartment rent prices fall across all bedroom counts for the first time in years. But, even with seemingly improving rent affordability, eviction filings have surged across the South. Even with the rent drops, are tenants simply unable to pay such high prices for everything, rent included, in 2024? Lastly, we’re talking about how the decline in commercial real estate and office space has led to cities increasing property taxes, and by no small amount.

In This Episode We Cover

Whether Kamala Harris’ anti-Wall Street ownership proposal could work for homebuyers

Why apartment rent prices are falling, and whether or not this will continue

Single-family rents and why we AREN’T noticing them fall too

The real reason evictions have seen such a spike across the Sunbelt states

Commercial real estate-caused property tax hikes happening in THESE cities

And So Much More!

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