This Executive Order Could Reduce Home Prices

The Road to Housing Act, I want to start with that.

I'm going to take part of the credit with Brian Buffini for having at least sparked an idea in Washington because what it was supposed to do, the primary thing, was to keep these institutional buyers from buying the houses and getting them off the market.

Yep.

It did some of that for sure.

It was definitely watered down, right? It wasn't a nothing burger, but it wasn't the bill we were hoping for.

They've eased the restraints for local communities to be able to help build more homes.

That's a big deal.

That is a big deal.

California didn't listen.

Thanks, bud.

You know, it's 72 degrees there today.

I got bad taxes and I can't build a house, but it's 72.

That's what I'm hanging on to.

Good weather.

But I'll just say, now I will say that they didn't get the cap gains thing done.

No.

They did get a restriction on the big companies.

And what's happening, these companies who bought for two years, they bought 25% of all homes in America.

They are now trying to divest themselves.

So what they're doing is leasing out these homes and now they've come out with incentive programs.

Okay, we'll lease you the house and we'll give you a credit towards buying it if you buy it because they're trying to get out of it.

So for someone trying to create a down payment, the market rate, because rents have come down.

So typically when they do a lease option, there's a premium on the lease.

They charge more for the lease on the home.

and then you get a credit for a down payment.