Abel Wamalwa’s Post

Quick read on housing affordability. It’s not just about interest rates. Key point is that Most developers would pass on the savings in fees, taxes and charges going to the government=significant benefit on pricing.

Yesterday, President Biden announced a proposal to cap annual rent increases at 5% per year for the next two years or risk losing current valuable federal tax breaks. The proposal, if passed by Congress, would apply to landlords who own more than 50 units. #IREM opposes the President’s proposal as rent control has proven to be a failed policy that only exacerbates the national housing affordability crisis. Read our full statement at https://hubs.ly/Q02H0GX10 #propertymanagement #realestate #rentcontrol

It is always a cause for concern when career politicians decide to step over into the business world with policies that will undoubtedly have unintended consequences. It has happened on both sides of the aisle. While offering rent increase caps sounds like a benevolent policy, the unintended consequences will negatively impact those that need rental assistance the most. My ask of any politician or elected official is to create a group to study the issue that is bi-partisan and that will model the pros and cons of the prescribed policy. In real estate and financial services, we must model our returns as part of our due diligence. Politicians and elected officials need to follow the example of business leaders as research should be conducted to mitigate the risk of unintended consequences. #realestate #multifamilyinvesting #duediligence

President Biden unveiled a new proposal to cap rent increases nationwide, aiming to tackle soaring housing costs, though it faces hurdles in Congress and skepticism from some experts concerned about exacerbating housing shortages. Despite challenges, the plan would limit annual rent hikes to 5% or landlords risk losing federal tax breaks, potentially impacting nearly half of the rental market, yet its impact on Bay Area renters, already subject to local rent controls, remains uncertain. https://lnkd.in/gAf5vigF #RentControl #HousingAffordability #RentalMarket #BayAreaHousing

Episode 13 of The Pulse goes into President Biden's housing affordability proposal, as mentioned during the 2024 State of the Union address. From tax incentives to ambitious construction goals, how will these proposals reshape the housing landscape? Join the conversation with Antonio S. and share your insights on the future of affordable housing in America. #AffordableHousing #BidenHousingPlan #RealEstatePolicy #ThePulse #StateofTheUnion

More taxes on homeowners and families does not strike me as smart, it strikes me as creating a larger hurdle for more people and hence reducing the total number of people who can participate in the housing market. The major driver of (recent) housing price increases has been Money Supply being national, global, and abundant while housing supply--driven structurally by zoning--remains dictated by slow local bureaucracy. More taxes on housing will further suppress the price of assets in this sector and send more of the herds to stocks. Because even though housing is priced high, it could get a lot higher if/when there are more buyers as there are in every other asset class. #RealEstate #Economics

Illinois: Proposed Tax Credit to Address Affordable Housing Shortage Insights and Trends in the Real Estate Industry! #sellers #TaniaSells #realestate #realtor #dreamhomes #realestateagent #homesofinstagram #properties #homesearch #realestateinvesting

Biden's proposal to cap national rent increases at 5% sparks crucial questions about housing policy and affordability. Will this address the issue, or could it lead to a housing shortage? Managing rising taxes and insurance costs adds complexity. Should incentives for contractors and small businesses have been prioritized to stimulate housing supply and job creation? What do you think? #Biden #rental #multifamily #apartment #cap #rent #president

📢 Thanet homeowners – The Autumn Budget is on the horizon, and potential changes to property taxes and the housing market could impact you. Cooke & Co Estate and Letting Agents explain what this could mean for your property and finances. 🔗 Full article: https://bit.ly/3YihzhZ #ThanetHomeowners #UKBudget2024 #CookeAndCo #PropertyMarketUpdate #EstateAgentsThanet

A good response article to terrible policy in Ca. (The land of regressive property taxes.) When you hear pseudoeconomics being twisted to imply how large investors buying, remodeling and renting homes drives up prices, what they are really saying is that they don’t want renters in high income neighborhoods. Excluding people who can’t buy a home from living in upper class neighborhoods is classist, rascist and anti-American. We will not let those policy ideas progress. https://lnkd.in/geGc7KsW