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Make Homeownership Affordable. You can fix the housing crisis.

Residential Homestead Rights Act 2023

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Top Ten Reasons Why Renting Can Effect Your Happiness and Wellbeing.

Renting can have both advantages and disadvantages for individuals and society as a whole. However, I can provide some general information on the potential downsides of renting for some individuals and communities:

1: Lack of stability: Renting can provide less stability than owning a home, as re…

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Housing Insecurity Is Killing Americans

Owning a home extends your life, contributes to better health, and increases social quality outcomes compared to those that are housing insecure. Although the United States is the wealthiest industrialized country in this world, it is also at the bottom of the list when it comes to child mortality, …

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Australia sees Chinese investors in Real Estate as a Crisis

AUSTRALIA’s investment authorities are investigating a fraction of the more than 5000 foreign purchases of established homes over the past nine months despite widespread concern that current regulations are either inadequately enforced or widely flouted. Treasury says it is investigating 33 cases wh…

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Make Homeownership Affordable Again

This site and blog represents chapter one of our grass roots effort to stop Foreign investors such as Chinese and Big Investment Groups from buying Residential Homes in America.

The fabric that built society over generations is withering away. Homes are being purchased by Chinese Influx of money …

Read more

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Top Ten Reasons Why Renting Can Effect Your Happiness and Wellbeing.

Renting can have both advantages and disadvantages for individuals and society as a whole. However, I can provide some general information on the potential downsides of renting for some individuals and communities:

1: Lack of stability: Renting can provide less stability than owning a home, as renters are often subject to the whims of landlords who may decide to sell the property or raise rents.

2: Financial insecurity: Renting can be expensive over the long term, and renters may be unable to build equity in a property, making it harder to save for the future.

3: Lack of control: Renters may be limited in their ability to make changes to the property, as they may need to get permission from the landlord to make any significant modifications.

4: Discrimination: Renters may face discrimination from landlords, who may refuse to rent to them based on their race, gender, or other factors.

5: Negative impact on mental health: Renters may experience more stress and anxiety than homeowners, as they may feel less in control of their living situation.

6: Lack of community involvement: Renters may be less likely to become involved in community activities, as they may feel less invested in their neighborhood.

7: Lack of long-term planning: Renters may be less likely to make long-term investments in their community, as they may not feel a sense of ownership over their living situation.

8: Lack of privacy: Renters may be subject to more intrusive inspections by landlords, which can violate their privacy.

9: Limited opportunities for wealth accumulation: Renting does not provide the opportunity to build equity in a property, which can make it harder to accumulate wealth over time.

10: Housing affordability crisis: In some areas, high rents can make it difficult for low-income individuals and families to find affordable housing, leading to homelessness and other social problems.

It's worth noting that these potential disadvantages may not apply to all renters or all rental situations, and that many individuals and families choose to rent for a variety of reasons. Additionally, renting can provide some advantages, such as greater flexibility and less responsibility for property maintenance. Ultimately, whether renting is harmful or not depends on the individual and the specific circumstances involved.

Housing Insecurity Is Killing Americans

Owning a home extends your life, contributes to better health, and increases social quality outcomes compared to those that are housing insecure. Although the United States is the wealthiest industrialized country in this world, it is also at the bottom of the list when it comes to child mortality, life expectancy, and cardiovascular disease. The remedy to these problems can be found in owing your own home.

For decades scientists looked to eradicate illnesses such as heart disease, depression, and cancer by focusing on genetics, predisposed conditions, lifestyle choices, ethnicity, and the environment. To their dismay they discovered that the causal relationships did not exist, until they began looking at income and housing inequality.

Income disparity obviously impacts how one can access healthcare, medicine, healthy foods, and have extra leisure time for exercising and participating in social support networks. According to the National Institute of Health (2021), housing and home ownership has a greater and more significant impact on the quality of life and health than income levels. One study found that children raised in homes that parents owned were much less likely to get sick than children that grew-up in rental situations.

In the State of Kentucky families living in poor neighborhoods such as Jackson County, specifically renters, had a reduced life expectancy by up to ten years compared to those living in high social economic locations like Wayne County where life expectancy is 82.1 years (CDC.GOV, 2021). Housing insecurity is a real stress producing phenomenon that increases the levels of cortisol that contribute to declining health and a lower quality of life. Societal determinants of health can mean life or death to many Americans. Housing should be a fundamental human right and ownership may be the magic we need to make a difference.

In the early 1940’s institutional racism existed as neighborhoods with minorities were appraised up to thirty five percent less than in all white neighborhoods. Homeowners benefit from appreciation and use the capital appreciation for educational and medical advantages that renters could not. Today big corporations and foreign investors are turning homes into rental properties where the appreciation will never benefit those that call these places home. In Australia and parts of Canada foreign investors pay an additional tax, yet that does not deter the inventory from being swallowed-up. Even the once real estate information site Zillow is now a company that buys homes.

Institutional racism is now between the rich and the poor and those on the losing end are suffering both physically and emotionally. Depression and suicidal ideation are higher among non-homeowners than those that are with a mortgage or the deed. We must explore new programs and opportunities to increase the access to affordable housing. One such solution is real and tangible and that is by preserving 90 to100 percent of existing residential properties for citizens and migrant workers only. Then, if corporate giants and foreign investors want to monopolize real estate, they need to build new inventory, not steel our soul.

Kevin Luxon

Next on HRA: According to Redfin, One out of six homes were purchased by investment groups in 2021. This is a sick, sick commentary on greed versus humanity. More to come.

 

Australia sees Chinese investors in Real Estate as a Crisis

AUSTRALIA’s investment authorities are investigating a fraction of the more than 5000 foreign purchases of established homes over the past nine months despite widespread concern that current regulations are either inadequately enforced or widely flouted. Treasury says it is investigating 33 cases where a foreigner has purchased an established home — which is banned in all but a narrow range of circumstances — including several “high value” purchases.         

 

The figure amounts to less than 1 per cent of the more than 5000 foreign purchases of established homes since March. It is unlikely to alleviate the pressure on the Foreign Investment Review Board from MPs and renters to boost its lax enforcement efforts amid soaring real estate prices. The Australian revealed ­recently that the FIRB, which sits within Treasury, has not prosecuted a single foreign investor for an illegal purchase since 2010. Treasury’s submission in ­response to a committee of MPs pushing for better enforcement of FIRB rules cites three examples of prosecutions it has led, but the most recent case date back to 2006.

The issue of foreigners, in many cases, wealthy Chinese investors, sidestepping FIRB regulations to buy established property is driving a backlash from would-be buyers priced out of city markets. The FIRB has come under pressure from the House of Representatives economics committee chair, Liberal MP Kelly O’Dwyer, and other MPs on the inquiry into foreign investment in real estate over its lax oversight. In response to questions from the MPs, the Treasury said it “is currently investigating the acquisition of foreign interests in 33 residential real estate properties”. “All of these properties are in the established residential category, with a small number involving very high value established ­purchases. “In most instances the investigation activity involves the need to establish the identity of the ­relevant investor and to assess their eligibility to own the property in question. See: "Foreign buyers are buying up Australian Property with suitcases full of cash." [Today Tonight] https://www.youtube.com/watch?v=YYWkGMKhUmU

The only situation in which foreigners can purchase established homes here is if they are temporarily residing in Australia, and even then, the property must be sold within three months of the buyer returning to their homeland. As The Australian has revealed this loophole is being exploited by wealthy foreigners looking to park cash in the Australian housing market. In many cases they are using their children studying in Australia, or lawyers or other service providers, as investor proxies. The latest figures from the FIRB show that foreign investors have doubled their purchases of Australian property in just one year with 5755 homes worth $5.5 billion bought in the nine months to March alone. More than 100 agencies are ­active in China openly marketing Australian established housing even though would-be buyers would almost certainly be breaking the law.

Until recently, the lack of compliance has been largely ignored, but media interest and rising prices have increased the pressure on MPs to act on these practices. Foreigners are laughing at us. Australians and our Companies are not able to buy any property in China, as an example. Why foreigners should then be allowed to flout our flimsy FIRB rules in an almost unregulated way, threatening the viability of local buyers by forcing up prices.    [Source: The Australian, 2014]                                        

I would not be able to buy property in China, Sri Lanka with 100% tax and Hong Kong with 15% tax on foreign freehold purchases, Thailand and Singapore generally prohibited with strict limitations, Indonesia prohibited and many emerging economies requiring citizenship. I am not suggesting no foreign investment, but a more thorough testing of foreign buyers and purchases and a toughening of regulations by the Foreign Investment Review Board.

Thank you for your support... 

Make Homeownership Affordable Again

This site and blog represents chapter one of our grass roots effort to stop Foreign investors such as Chinese and Big Investment Groups from buying Residential Homes in America.

The fabric that built society over generations is withering away. Homes are being purchased by Chinese Influx of money and big corporate ventures that turn individual and duplex homes into "RENTAL PROPERTIES". Once the laws of Supply and Demand, hard working families and new home owners are forced to Rent and work two to three jobs to keep up. Meanwhile, first time home buyers are losing their bids to investors that are paying CASH for homes. 

Real Estate Agents are pushing for this because of less work, faster commissions, and my friends and strangers are being denied even after offering above asking price. Other Countries have recognized this problem and have put restrictions on foreign investments into residential housing, most countries don't even allow for such unless you live and work there. 

This is a quick blog to introduce change through policy change that will make homeownership affordable and keep the 1% from buying everything up before it's too late. There are thousands of you out there with amazing content, movements, and great aspirations to make this change. Let's consolidate our efforts to create real change, together.

Kevin 

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