It is rare that Congress agrees on anything. Even when they do it seems that nothing happens. There has been bi-partisan support to rebuild our energy grid (for years), yet nothing happens.
The bi-partisan "real estate" bill places restrictions on insituitional investors - thus preventing them in some instances from purchasing property. The idea (well founded) is to enable home ownership for others that may have been shut out of the process for a number of reasons.
I am known to say two things about government "fixing" things:
1. The government solution is rarely the best solution, and
2. The government loves to fix things that are not broken.
I couldn't help but wonder....yes, we aare helping certain BUYERS, but are we hurting some SELLERS? There would be less buyers in a market without the institutional investors and frequently, they buy and close quickly since there are no funding issues. For many people, this becomes a lifeline when they are in need.
So I am wondering how the 'Rain feels about it??
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