Redfin released the results of a survey they completed in June of 3,000 U.S. residents who bought or sold a primary residence in the last year, or plan to in the next 12 months and they asked these 3,000 people about government intervention in the housing market. Here are the results-
- 34% said they support policies designed to keep homes affordable.
- 19% said they prefer policies that strengthen home values.
- 37% said they support both.
- 10% didn't know
I find it incredible that 37% said they support both types of policies. Huh? Unfortunately, there is NO cure for stupid.
And don't get me started that most "ideas" to make housing more affordable actually do the exact opposite, witness "ideas" such as rent control, restricting new housing from being built, making homebuilders add solar systems and other energy enhancement features to homes. I may be willing to add energy improvement features to a home, but don't MAKE me do it.
Further, 33% of respondents said they support policies that limit investor's ability to buy homes to flip or rent out. So, will first-time homebuyers buy crappy dated homes and fix them up themselves? Doubtful. Who will provide affordable rental housing? Big corporations or REITs? Nope. Be careful what you wish for.
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