From this point on, it shall be illegal to purchase a single family home, apartment, condo, townhouse, or other house-type property unless you actually plan to live in it. This means:1) No real estate investors, speculators, or vultures.
2) No "house flippers" or business-class property resellers.
3) No home-auction buyers who pick up distressed homes for later resale.
If you buy one of these kinds of house-type properties, you have to live in it. Period. Commercial real estate (which includes building owners) are unaffected; they can continue to buy and sell any kind of property they wish with no restrictions.
If you're going to buy a house, you have to live in it. And by "you", I mean the person that signs their name on the mortgage. Not your friend. You. If you want to buy a house-type property in order to rent it, then you want be in the real estate business; as such, you fall under my newly created "Commercial-class" real estate rule and have to buy, at minimum, a building (or if you want to rent houses, you have to buy a whole neighborhood or block, whichever is larger).
You see, homes are not commodities. They're homes. If you want to buy and sell commodities, go play the stock market, or trade currencies, or buy pork bellies. Leave homes alone. Homes are where families live, where children grow up, where community takes root. When you throw the dice and gamble on homes like you would a stock, you might lose or gain a few bucks, but you are also weakening the very core of human communities by creating an unstable foundation.
If a person's home can't be counted on to be there, it weakens the community. If you don't know who your neighbors are because of the constant shift in tenants caused by commercial use of that property, it creates community instability. If you mess up and have your investment properties foreclosed on, neglected, or improperly used, it's not you that suffers: it's the community.
So, from this point on, homes are off limits for you commercial investor types. Go invest in something else. Leave our homes alone.
