We must pressure federal and state legislation to ban companies from writing off single family homes against any other holding asset class.
Meaning single family homes may only be written off by their own individual stand alone expenses and not bundled against other write offs to prevent asset price market manipulation, pricing out the average homebuyer with artificial supply constrictions, disincentivize them from entering the market manipulating supply and demand. The price of a home should keep falling until a willing buyer with intended occupancy can purchase the property. To manipulate this with big banks anointed this access is the antithesis of capitalism. This would make the big banks in an only even playing field and nothing more, with the average buyer. If each home will have an individual manager and accountant than so be it, they may complete fairly and equally. WHY? Because when companies like Blackrock buying out entire districts in TX like we saw in Conroe 50%
above asking or value it artificially inflates the comps and therefore the valuations of homes nearby effectively short squeezing homeowners out of their own homes by the increase in property taxes into a Great Reset. There is a covert war against Americans via inflation that particularly targets legacy red state residents. It works like this, the minimum wage floor in TX is 7.50, in CA it's 15.00. so individual residents in CA have a higher margin to withstand National inflation divided by rate of consumption. (In West Hollywood I walked everywhere thus unaffected by gas prices, if I drove it was <3mi thus one gallon = 10 trips) thus therefore moving to TX on the higher threshold a none issue inversely pricing out other legacy Texas buyers. Without going into the political implications of this you can see the ripple effect of this, paired with private equity bidding far above asking and you can see how legacy Texas homeowners who's income doesnt rise at the same or higher rate of the S&P 500 or intrinsic inflation would be inevitably short squeezed! (Priced out of their asset holding affordability to carry and maintain) this futher exacerbated by appraisal district laying the burden of proof on the homeowner, which Ive also wrote about reforming shifting the burden of proof upon dispute to the appraisal district.) I would introduce this legislation proposal at the federal level in a congressional run but we must pressure them now! We need to introduce federal legislation than bans any company, business, in part or wholely owned subsidiary, holding company, shadow company, obscure holding company, non-profits or otherwise with CONTROLLING value in excess of 10M to bundle single family home ownership write offs against any other write offs. Any single family home write-off may only be written off against expenses as a stand alone asset. This market is doing what it's doing due to a shift in federal policy blocking 1031 exchange above 500k. This is effectively forcing banks and institutions to complete with the average person and pricing out existing homeowners. I've said it before and I'll say it again, Banning property taxes should not and is not a matter of economics, it is a matter of dignity, principal and right and wrong. It Is fundementally flawed in it's very name. There is and never has been a residual tax over any other form of "ownership". It's up the the government parasitic elite to figure out better efficiency to operate and sustain itself by which how should be up to your vote. We work for you not rule over you. You guys already know my take, the only way to truly fix all of this is to issue a Margin Call on the federal reserve and world banks, it would fix the world economy in a week. Meanwhile, Texas must act on this NOW and voted out. Finally, we need to start making and posting every official who is not for property Tax Reform with name, district and competitors along with those who have blocked or failed to bring it to discussion. I'm happy to see Don Huffines take this issue on against Greg Abbott to bring the property taxes "on a path to zero." https://www.google.com/amp/s/amp.statesman.com/amp/7544045002 In addition to State Rep James White also running on this issue. https://www.google.com/amp/s/www.wfaa.com/amp/article/news/politics/rep-james-white-east-texas-property-tax-flat-tax/287-3c6b3ab4-57e4-4f34-b7ce-cf2b9a85d841 Dan Patrick is also working on this issue, Thank You. Those who prevent this from coming to the floor or otherwise don't push it will be listed accordingly. Thank you to Houston Chronicle 's Madlin Mekelburg for this great article! https://www.houstonchronicle.com/politics/texas/politifact/article/Dan-Patrick-says-Texas-property-taxes-are-no-15355840.php