could the US gov't have passed a law to prevent property flipping during the housing boom?

[BlahBlahYouToo]

or would that be considered unconstitutional?

something along the lines of, you cannot sell this property within x number of years unless you provide proof that it is out of dire need (job relocation, etc.).
just a roadblock to make it more difficult for someone to buy houses, inflate prices of all other houses near it, bidding wars, all that stuff.
would've probably prevented a lot of the credit troubles we are in right now.

i dunno, maybe stricter lending practices would've helped too.

 

[ElFenix]

maybe but they'd all be voted out of office before the courts could decide it was unconstitutional.

 

[Kelvrick]

Stricter lending practices is/was the solution.

 

[darkxshade]

That's exactly what we need, more government regulation.

/sarcasm

 

[BlahBlahYouToo]

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

would you rather be in the mess that we're in now?

 

[CPA]

You seem to forget that noone forced anyone to buy those houses at inflated prices.

 

[TheGizmo]

yea this is retarded.. waste of time and power, we don't need people supervising our every moves.. and I see no problem with property flipping. (and no I don't own any properties, I rent)

 

[CPA]

Originally posted by: BlahBlahYouToo

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

would you rather be in the mess that we're in now?

Yes. Government isn't here to solve your problems or force you to make a particular decision. In other words, the government should not be a nanny.

 

[Capt Caveman]

Originally posted by: Kelvrick
Stricter lending practices is/was the solution.

 

[FDF12389]

Originally posted by: BlahBlahYouToo

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

would you rather be in the mess that we're in now?

One could argue that too much government regulation is exactly why we are where we are now.

 

[mugs]

They wouldn't have passed a law prohibiting selling a house before a certain period of time had passed, they would have just taxed the profits more heavily.

 

[nakedfrog]

Originally posted by: Kelvrick
Stricter lending practices is/was the solution.

That's my understanding. Not so much the flippers/housing bubble as all the people getting loans who shouldn't have been able to get them, through either deceptive practices by the mortgage officers or the people themselves.

 

[BlahBlahYouToo]

Originally posted by: mugs
They wouldn't have passed a law prohibiting selling a house before a certain period of time had passed, they would have just taxed the profits more heavily.

i guess that's another method to slow things down a bit.

 

[sandorski]

Originally posted by: FDF12389

Originally posted by: BlahBlahYouToo

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

would you rather be in the mess that we're in now?

One could argue that too much government regulation is exactly why we are where we are now.

Not successfully.

 

[vi edit]

There's already a law on the books that requires you to pay capital gains on homes sold before two years of residency. So that somewhat eats away at the value of quick flipping.

 

[sandorski]

"Flipping' should have been dealt with Locally. Loose Lending regulations were more the Federal jurisdiction.

 

[Mo0o]

Originally posted by: CPA

Originally posted by: BlahBlahYouToo

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

would you rather be in the mess that we're in now?

Yes. Government isn't here to solve your problems or force you to make a particular decision. In other words, the government should not be a nanny.

It's true but certain societal contracts that suffer from the freeloader problem needs the government to regulate like traffic laws, public safety laws etc etc. I think its too simplistic to say the government should not be a nanny. Even though most of us drive as responsible speeds, there are those dbags that like to go 75 in a residential neighborhood, endangering everyone around them. In those instances, it's helpful to have some kind of public, enforcement, entity in place to enforce social contracts. Definitely a fine line between that and violation of civil rights etc etc

 

[cheezy321]

Wow, that is against everything America stands for.

Capitalism works, just not all the time.

 

[sdifox]

If they did that, they would have to outlaw the stock market.

 

[oznerol]

Christ, man, do you have any concept of how investments work?

The government already taxes the shit out of us - now you're suggesting they ban it entirely? Are you 12?

 

[spidey07]

Simple question OP - doe you live in America and do you own property? If yes and yes then I doubt you would think you have a good idea. It goes against everything this country stands for.

I also thing it would be very unconstitutional.

 

[waggy]

say you had the power to go back in time and ban flipping. question is would the damage done from doing that be more or worse then we are in from it?

 

[sandorski]

Originally posted by: ducci
Christ, man, do you have any concept of how investments work?

The government already taxes the shit out of us - now you're suggesting they ban it entirely? Are you 12?

Flipping Homes is not really Investing. Certainly it has some similiarities to Investing, but all it really does is Add Cost to the Buyers Needing a Home. That difference alone should have been a huge Red Flag.

 

[mugs]

Originally posted by: sandorski

Originally posted by: ducci
Christ, man, do you have any concept of how investments work?

The government already taxes the shit out of us - now you're suggesting they ban it entirely? Are you 12?

Flipping Homes is not really Investing. Certainly it has some similiarities to Investing, but all it really does is Add Cost to the Buyers Needing a Home. That difference alone should have been a huge Red Flag.

Using capital Letters when Not Necessary should also raise a Huge Red Flag.

 

[LegendKiller]

Originally posted by: darkxshade
That's exactly what we need, more government regulation.

/sarcasm

Pure capitalism is an evil game. Regulation is absolutely needed, even Adam Smith recognized that.