The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains.

The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains.

  • @kaitco
    25•10 months ago

    This is completely untrue.

    The Mom and Pop owners have less resources to handle if you suddenly break your lease and leave due to crumbing conditions so it’s in their best interest to keep their properties updated.

    Corporations often will ignore your complaints, and then just absorb the costs for a couple months until they can move in someone else into the same broken property. Corporations do not care when it comes to their properties, while individual owners do care because there are actual people behind them.

    Also, regardless if “renting is the right choice for some people”, the housing shortage is due to corporations buying up single family homes with the express purpose of renting them, which pushes potential owners out of the market entirely.

    • @[email protected]
      11•10 months ago

      Also too, mom and pop landlords often hold property as a means of retirement savings, so that when they go to cash out and finally retire, the house is worth something as opposed to a neglected pile. Obviously this isn’t true across all property owners that rent out, but it isn’t uncommon.