DCFishingGuy t1_izai0vh wrote
Reply to comment by Diet_Coke in Casino tops Richmond wish list [to VA General Assembly], but affordable housing lies at the heart by CrassostreaVirginica
>richmond.com/news/s...
So then all these go up for sale, the people living their get evicted, the same people don't have the money to buy them, the housing market crashes which affects the larger economy and the people who couldn't afford to live before are the most affected. Congrats you just destroyed our city.
Diet_Coke t1_izanhps wrote
No, they could still be owned by individual investors just without the protection of an LLC. One impact of that is that it makes slumlords personally liable for their properties, they can't play a shell game with LLCs and avoid liability for giving their tenants lead poisoning or failing to remediate black mold. From an insurance perspective, it would also limit one individual to owning ~4 - 5, maybe up to 15, 1 - 4 family dwellings because you can't get insurance for more than that as an individual.
I'm sure there would be some people who sold their properties. This change likely would put downward pressure on housing prices, which would be a good thing. It would not crash the market.
LostDefectivePearl t1_izb4fun wrote
I’m looking into an LLC for when I buy a house because I don’t want my name to be that easily searchable in public records. My partner has gotten death threats at work due to the nature of her job. It wouldn’t be hard to see who holds the LLC but just that small obstacle would probably stop some unhinged people from finding our address.
Charlesinrichmond t1_izciya6 wrote
Okay putting my lawyer hat on this makes so little sense I cannot even parse it
This would require the complete conversion of the US to a communist society to work I'm not actually kidding. You have to destroy most American laws it makes the Trump take on things look minor
You might not realize how trumpian this is
Diet_Coke t1_izcktqn wrote
That old Trump the communist
Charlesinrichmond t1_izfewfe wrote
nope. The Trump who wants to destroy the constitution and our democracy and rule of law.
He wants to destroy some aspects. You want to destroy other aspects. I actually give you the benefit of the doubt and I don't think you realize what you are proposing.
Corporations are just people. Groups of people. Your proposal boils down to overturning property rights, which is a big change in our society, and would quite literally require pitching a big chunk of the constitution
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