Posted on 02/06/2025 4:35:56 AM PST by Jacquerie
A House bill filed on Wednesday would limit corporations and investment firms from buying up single-family homes and converting them into rentals, giving local governments the authority to restrict investor-owned housing.
The Strengthening Home Ownership in Florida Act (HB 401), filed by Rep. Berny Jacques, seeks to protect homeownership opportunities by keeping more properties in the hands of individual buyers.
The measure allows counties and cities to zone land exclusively for owner-occupied homes, preventing large-scale rental conversions in certain areas. It additionally creates a new classification, “single-family hybrid housing,” which applies to homes primarily used as rentals and owned by corporations, investment groups, or related entities. Under the proposal, an individual or related entity cannot own more than three single-family properties in a county and still qualify for residential zoning.
Local governments would have broad authority to enforce these rules through zoning and land-use regulations. Under the bill’s purview, municipalities could prohibit hybrid housing in designated areas while still allowing it elsewhere.
The bill also includes exemptions for builders and developers, allowing them to construct and sell new homes without restrictions as long as the properties are unoccupied and intended for sale.
(Excerpt) Read more at thecapitolist.com ...
Turning neighborhoods into slums.
Before anyone gets too excited, I would very, very carefully read the legislation...
A link to a link with the pdf of the bill. No HTML. Figures.
https://www.flsenate.gov/Session/Bill/2025/401/?Tab=BillText
I see a number of problems already.
Lots of weasel wordage and a carve out for the public sector.
Is this one of those schemes that Vanguard and BlackRock have been involved in for a while?
Should be totally at local level.
It will be.
This is overdue nationwide. Housing and rental price inflation has been augmented by Blackrock and those of a similar reptilian species.
I’m sure the neoCON “muh corporation” worshippers will be by shortly to lecture us on how corporate profits are more important than living in an actual decent society.
LONG OVERDUE.
In my experience working with planning and zoning boards, writing distinctions between owner-occupied and tenant-occupied residential properties into law was determined to be absolutely illegal under state and/or federal housing laws.
Been warning folks for five years now those hedge funds (with lots of leftist ties) have been buying swaths of homes with CASH paying far over market value for them. Unsuspecting homeowners quickly sell to them, inflates home prices, BR or VG keep the homes, either not renting or reselling them, causing housing shortage, especially for the young first time home buyer.
Black Rock is tied closely with democratic leadership and the Clintons. It’s no secret at all.
Housing prices skyrocketed during COVID and there was a shortage of homes on the market. Most in their twenties cannot buy a home. The problem? Owning real estate is the first layer toward personal financial wealth in later years.
Virginia took measures under Governor Youngkin to stop this.
If you have a cash offer on your home, and the cash offer exceeds reasonable market value, ask where the seller is getting the cash from. Do your due diligence.
I’ve heard Charleston, SC needs that, too.
I think it’s too late. These giant corporations own millions of homes. Are they going to be forced to sell them? No.
once every last illegal is evicted there will be plenty of housing.
That should say ask where the BUYER is getting their cash. Be cautious on these cash deals.
The kinds of housing mostly bought by BR and VG are single family homes in decent neighborhoods. Something a young family would have purchased as a starter home.
Good. We don’t need to be completely dependent on the corporate scum to live.
In other news, an amendment was added to the bill to allow Big Sugar to diversify into corporate ownership of homes within a 50-mile radius of their corporate headquarters. /sarc
I’d like to know if Black Rock or Vanguard are subsidized with taxpayer monies in their asset purchases. Does the money trail lead back to USAID and the Democratic party? They have to get public funds from somewhere to pay yearly property taxes on properties they acquired above market value.
Sounds like they’re gaming the entire housing market, possibly with taxpayer funding and underwriting. Guess Fannie and Freddie mac weren’t enough.
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