Investors are breaking the housing market

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Wall Street investors are making it impossible to afford a home. Washington must act.

Signs advocating against short-term rentals sat in the lawns of homes along Loma Vista Drive in North Dallas in 2023.You’ve probably seen some version of the meme: a boomer who bought a house for peanuts lectures a millennial about cutting back on Starbucks to save for a down payment.

That includes plans from Republicans to heavily tax large landlords to get them out of the business of single-family homes. There are also bills to cap ownership.reports that, in and around Atlanta, “11% of all rental homes in the five-county area are now owned by three real-estate companies.”We don’t really know how big the problem in our region is. Tracking it is complicated.

What we do know is that home ownership is a cornerstone of the American dream that is now out of reach for too many people. And those who are buying homes are leveraging too much of their income to afford what they get. A free market is central to our way of life. But a broken market that is rigged against regular folks undermines our way of life.Government has to step in smartly here to restore some balance in housing. Because a home is about more than making a buck. It’s about having a life.. Dallas Morning News editorials are written by the paper's Editorial Board and serve as the voice and view of the paper. The board considers a broad range of topics and is overseen by the Editorial Page Editor.

 

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