I had a thought about that.
What if - as a local City or County ordinance - you place a mandatory moratorium on selling your home for ten years after purchase?
Some considerations:
1) Only applies to houses bought AFTER the law goes into effect, this way no one can cry about being stuck with something they didn't want because of the law.
2) Only applies to single-family houses and properties with a single-family house and any number of in-law units. Multifamily units like apartments and duplexes are not applicable.
2) Exception: if such an event occurs that causes that the insurance company declares the house a total loss, then the owner is released of any moratoriums.
3) Exception: Condemned houses. These may be flipped as a condemned property is doing no one any favors at all.
Thoughts?
What if - as a local City or County ordinance - you place a mandatory moratorium on selling your home for ten years after purchase?
Some considerations:
1) Only applies to houses bought AFTER the law goes into effect, this way no one can cry about being stuck with something they didn't want because of the law.
2) Only applies to single-family houses and properties with a single-family house and any number of in-law units. Multifamily units like apartments and duplexes are not applicable.
2) Exception: if such an event occurs that causes that the insurance company declares the house a total loss, then the owner is released of any moratoriums.
3) Exception: Condemned houses. These may be flipped as a condemned property is doing no one any favors at all.
Thoughts?