Investors are making homes unaffordable…

19 Feb

I found the article below in the LA Times on Sunday fascinating, expecially since I had just met with a pastor planning to retire in the Inland Empire and he’s out bid by investors on every home he’s seeks to buy. I have spoken about Landlord Liscensing as one way to put some limits on this practice. My chapter on “Ownership, Land and Jubilee Justice” speaks of limits God places on the days we work, the years the land “works” and the a limit on speculation (Lev. 25).. Since investors have the advantage with all cash deals to avoid mortages, apprasals, and private mortgage insurance, in exchange do you think there should be  a limit to the number of homes an investor can buy to let’s say–20? 30? 90?? With these advantages, do you think that an investor should have a responsibity to set aside a percent of the homes as affordable and/or available to be sold to the public?   Read the article and let me know what you think….. Thanks! Jill

http://www.latimes.com/business/la-fi-inland-empire-recovery-20130217,0,5814396.story

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