STOSSEL: Government regulation means fewer houses and higher prices |
Politicians blame big companies like Blackstone, Invitation Homes and JPMorgan because they've been buying thousands of homes
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Home prices keep rising.
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One reason is that today’s houses are bigger. Buyers now want more rooms, washers and dryers and air-conditioning. But even if you adjust for the improvements, houses cost more today.
Why?
Politicians blame big companies like Blackstone, Invitation Homes and JPMorgan because they’ve been buying thousands of homes.
“It’s troubling,” says U.S. Senator Elizabeth Warren (D-Mass.), that homes are bought “not by families who want to live in them, but by speculators who want to use them to generate financial returns.”
“It’s shameful,” agrees California Gov. Gavin Newsom, “that we allow private equity firms in Manhattan to become some of the biggest landlords here.”
I was surprised that President Donald Trump seems to agree with the........