Longtime homeowners are fighting back a troubling new trend: corporations buying up single-family homes and converting them into rental properties. Once serene neighborhoods are now seeing poor upkeep and criminal activity. And with high demand and low inventory, first-time homebuyers are being priced out by the investor invasion backed by Wall Street. » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
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#HOA #RealEstate #Housing
Home Owners Associations Are Pushing Back Against The Investors Buying Up Houses
I don’t like HOAs, but this.
This puts a smile on my face.
Finally hearing a good story from an HoA. While i feel no one should be able to tell you what you should do with your house, these big corporations that keep buying houses for rentals is making it difficult for people to truly live free because we have to resort to rules like these just for someone to have a chance. I just hope that the HoAs doing stuff like this aren’t taking it too far. I think they should come up with counter measures so the whole community helps control the rules and how strict those rules are enforced.
One thing they’re doing that’s actually good. I bet the investors will find a way around this.
I would not live in ANY place with a HOA. Even if it was given to me free. I’ve seen too much crapwith HOAs. My house…I do what I want…legally. Everyone else can go play on railroad tracks.
That is so smart! They should also require a lawn care service for rentals, make it a part of the monthly rent so the renters don’t have to do that!
HOAs are illegal and should be pushed out with a landmark case who really owns the homes it’s not the HOAs .they should shut these free cash machines down .
More HOAs need to do this, honestly all of them do
Investor homebuying should be illegal. If this keep going America will finally be a third world country.
First time I’m a fan of a HOA
Controlling who can buy a house? Sounds like socialism.
I hate HOA’s but at least they make sure the community is protected.
I think it’s wonderful. Bravo to this community. The investors could care less about anyone dying or getting shot up. Let them take their greed and wickedness somewhere else.
Yep- I go to my HOA meetings and this definitely has come up and is going to be added to the bylaws in our community. Our community is for living, not investing, flipping, or quick vacation rentals. We don’t want it. We want to live in a neighborhood where people work hard for a living and want to have an affordable home not to have a flipper come in and only use it to flip. This should have been done many years ago in all communities.
New rule is soooooo important. The RICH must be STOPPED from destroying middle class & lower class ability to own a home
I wish they did this here in south Florida!!
The artificial constructs are what these Wall Street Investors have created.
Here’s a pro tip for Wall Street: The dollar is only worth what the American worker has and able to spend. Dry up the river and you yourself won’t have nothing in the end but Monopoly money and paper investments not worth anything.
Invest in working Americans or you won’t have a United States. The clock has started…now.
But America is capitalist. What do you expect? If you don’t have the money then you don’t own the house. Period. Work hard make money then buy a home.
Not normally a big fan of HOAs, but I hate these wall street investors even more. Good on this HOA for doing something good for once.
Profit should be the primary consideration. That’s the American way.
Who actually owns the house the investor or the hoa? Hoa is basically a country club. Some how they get laws passed? No they make their own laws and snob everyone with a funny mail box. If I get enough rich people can I make laws🤔
The worst part is these people are kinda monochromatic they want to fit in like 4 Privet Drive, Little Whinging, Surrey
2:38 TAKE PRIDE IN YOUR COMMUNITY – THIS IS WHAT IM TALKIN BOUT 👏!!
Cool. HOA proving their worth! All of them should do this now. This actually really protects families and neighborhoods finally!
They need to stop buying from investor and let them sit and go in debt holding on to the house.
Unfortunately the higher the price of homes in a neighborhood the better your neighbors. I think it’s because they have money to keep up their property but more importantly want to. Maybe they see all that money paid as an investment and know a key to value growth is being a good neighbor. HOAs are a red flag to me because rules attempt to force good behavior which is impossible. People know good behavior, enjoy good behavior, or they don’t.
Not true in all cities were a house in the hood in Cali can run you $400-$700k. That same house is in an upscale neighborhood in the south and midwest.
The investors are taking advantage of the housing market and alot of them are moving out after a year and then they will rent out their home for extra cash and super high rent, and then move in to condo to invest in and live in. If you are rich, that’s how you make your money multiply and alot of these investors are making profits.
screw wall street investors!! find the properties they bought and TRASH it !!!
Good on the HOA.
The first time I haven’t been disgusted by a hoa.
I totally agree pushing middle class of reach for home owner ship something needs to be done.
I’m so glad to see this! There is nothing “fair” about these big companies snatching up all the houses. If the government won’t do something about the housing disaster that is occurring in the US right now, the people have to.
Technically a HOA is a low level of government.
I like housing more restrictive. I don’t like living next to rentals. Good for them!
This immediately devalues the home. As soon as you add an aggressive rental restriction to a neighborhood and it no longer attracts investors the pool of buyers shrinks thus lowering the value of the home
The pool of buyers will continue with investors out. It changes the scope. Investors artificially drive up the value of the home only for it to come back down and your every day family has purchased at the high price just to get a home and will be underwater when the value comes back down and the market cools.
Finally a story that makes me support the hoa
Greed has destroyed the American dream for the average citizen, this is unsustainable.
No one is mentioning that the Trump Opportunity Zones (capital gains tax havens for the wealthy) is why they are parking capital in real estate in these designated O Zones that invariably drives up home prices. Do the research and THINK. They will pay ZERO capital gains for holding in these O Zones for 10 years. That means real estate prices will not be going down for the next decade at least.
The other variable is, property taxes will increase (converse correlation to property valuations) so a lot of lower income people, with fixed incomes, will have to pay more for their property taxes. They will lose their property to the county appraisals.
The rich getting richer, while the poor get squeezed. America Land of the not so Free and home of the Slaves!
No it does not infringe on the pursuit of housing. You are bringing in people who are no position to buy in the first place, let alone all types of criminal behavior. I live in a HOA that bans homeowners from ever renting their property. You are forced to sell and that clause keeps nasty disgusting investors out. The HOA did the right thing.
Extremely rare HOA W
not over stepping, hoa’s have always regulated renting because it diminishes the value of everyones property and makes it difficult for people to get mortgages if there are too many rentals in an hoa community
Agreed getting ready to destroy United States 🇺🇸
Good on them. It should be like that everywhere so normal families can actually get a chance to afford a home
The one thing HOAs are doing Right
Please know that not all people who rent are bad people!
Well done!!! I support this 100%
Whoa???? You are telling that the HOA is finally doing something good? Can someone tell the entire Las Vegas housing market.
I live in an HOA and the biggest issues have always been from the renters. They refuse to follow the rules and the owner of the properties don’t care. They can afford the fines because they hike up the rental price. The cops have been called more than once, and this is a relatively nice neighborhood. The renters have moved from larger cities and bring their drama. If they want to act like trash they need to move to a trashy neighborhood.
One of the perks for the investors is that the maintenance of the outside of the unit is typically covered by the association fees so it’s a lure for them to not have too much as far as upkeep of the property, and the rent covers the association fees.
Never in my dreams when I picture myself supporting HOAs. But good for them. We need congressional action on this.
Investor buys includes ibuyers which don’t hold long term and the majority of the time sell ASAP to owner occupants. Investor numbers re overstated.
This is what’s going on in my community now. The investors do not keep up the homes. My community is 80% rental and I’ve been here for 18 years and can’t wait to leave, Our community has gone under.
It’s bigger then making money… You media are completely twisting the narrative to favor single family developers who are much richer then the multi family developers. Single family housing only leads to urban sprawl.
Wow…. What I’ve always thought from homes being taken by investors to them letting any and everyone in their homes who are dangerous! Sadly, it’s in my back yard in Charlotte, NC. Also, the investors crying is just mad that now he’s feeling the pain all of us regular have been feeling in the housing market over the last two years. You Reap What You Sow!
Finally the hoa doing something good for a change. Screw the investors
The easy path makes most rivers and women crooked
HOA said the only people who are going to terrorize the neighborhood is us
I agree with the HOA Company !
Property investors are EVERYTHING wrong with the current housing crisis.
California just outlawed that ownership prerequisite. So, other states can expect the same challenges.
Finally an HOA doing some real good for residents. An actual important issue 👍🏼👌🏼
The only time I have seen an hoa do a good thing still hate them
Did we all just live to see HOAs become the good guy?
When the downturn happens (job losses) and people can’t rent their houses, foreclosures happen. This happened in HOA in 2008. I do think HOAs should limit rentals but the NIMBY attitude is somewhat harmful to tenants.
I like this clause. Some mortgage types already require this.
That Charlotte shooting was shocking. Nice to see the community taking initiative to improve their community.
Great idea for keeping housing affordable.
Idk about you but I’m not looking to rent the “American Dream.” These investors need to crawl back to where they came from and let us be. The world doesn’t exist simply for you to make money.
This is a big problem in my city . Investors buy all these houses and rent them out to section 8 tenants that don’t care to take care of their neighborhood because it’s not their house they’re renting
First time I’ve agreed with an hoa story
Wow this is a great idea!!
Good for them. Investment groups couldn’t care less what happens to these communities. All they care about is their profits. Fight back!
Who is that old foolish corporate rat that thinks restrictive and dictate housing rules for new owners.
He should be made homeless and broke.
I don’t fell sorry. This is what the home owner association gets. I hope the investors sue.
Renters bring a community down full stop.
Don’t sell your home to investors. Sell them to families.
Isn’t this interstate commerce, the HOAs have zero authority over interstate commerce. The HOAs will be sued by deep pocketed investor groups.
Investors made it extremely difficult to buy my first home. Each time I was out bid by investor offering at times more than the homes value. I was finally able to purchase a home in a neighborhood that had some investor restrictions.
This also is happening in my area, and the investors typically are out of state. It’s a bad trend IMO.
But big thing is if you want to sell. You sell for less
2:00 – “…attempting to dictate who can and cannot live in their communities.”
The keyword here is LIVE.
So if the owners don’t actually live in a community, then it becomes a rental haven.
Historically, people who live in the homes they own means they do care more about the property. When this happens, a community benefits! Neighborhoods with a high number of renters have historically had higher crime and lower property values overall.
I’m for restrictions like those described!
For once I agree with the HOA good job
Why care about who is buyimg it? Reeks of buyerism!!!
Good for the HOA.
When HOA’S fight evil you know the world is upsidedown!
Oh, its fair! Nobody wants investors in their neighborhoods unsupervised and crazy tenants.
Hey but this is communism!! 🤪🤪 Isn’t this America where rich people should be “allowed” to buy anything they want??
I don’t usually side with HOAs. But when it’s a matter of safety…. someone needs to intervene. I’m glad this was implemented. Home owners have a right maintain a safe neighborhood.
As Realtors we need to also encourage our clients not always go for the most money when selling and think about giving an actual homeowner the opportunity to buy a home for their family. My seller turned down an investor who offer $20k more, in order for a family to purchase his home.
As homeowners, we need to ask a Broker/ realtor to take less money. I bet you would like that one. You guys are overpriced as well.
Anyone who knows me is aware I am not to keen on HOA’s. HOWEVER, I fully support what these two individuals are doing within their HOAs. I would back that decision and strongly advise other HOAs to follow their lead.
Nobody likes to mention that a lot of the investors are foreign Chinese investors as well. We are literally selling our country to China.
Absolutely it should be community building rader that shark hunting for massive profits.
the HOA and wall street have met their match, but still don’t like them.
Hoa finally doing a great job.
They say investors make up a small percent of current ownership. However what percent of recent purchases are they?
“They’re trying to dictate who can and cannot I live in the community!”
Yeah! It’s an HOA! Welcome to America! Welcome to redlining!
This is true. PROGRESS RESIDENTIAL AND AMERICAN HOMES DONT DO BACKGROUND CHECKS THAT will keep certain people out. So if youre credit or background check is bad they will STILL LET U RENT THOSE HOMES. Dont do it. Stayvaway from these companies…
Good story. I used to own a town house and Investors bought up so many. Renters didn’t care about the community as much as the owners. Brought our property values way down.
Rare HOA win
Of course you have to have a certain percentage of of owners voting to agree on this.
I agree corporation’s shouldn’t be allowed to buy up single family homes. They’re creating such a problem.
HOAs are pure evil.
I only hope that HOAs can put a stop to this most viscious of exploitations that makes home ownership so difficult for the millions of working Americans attempting to buy.
I’ll run my fool mouth here right off the bat. To all the so called conservatives, and yeah you do have some valid points. You want less crime, drug abuse, inneer city deterioration, etc.? Well then run things so that such people have something to conserve. How the hades can you expect someone to be a conservative when they have nothing to conserve? If that inner city hoodlum gets a house in the burbs they are going to be much more conservative real quick. And this idea of corporations buying up domestic real estate works against this.