Do 1031 exchanges contribute to the homeless problem
Feb 13
9 Comments
I live amongst some real estate bros in Southern California who live and breathe by these 1031 exchanges. 1031 exchanges effectively is finding owners of properties and swapping ownership to avoid capitol gains taxes. From the information I’ve gathered it sounds like they target multi family properties that are “undervalued” due to rent control, swap owners then they can kick people out because it’s a new owner, bring in new tenants under higher rent. So tenants living with decent rent prices get kicked out then have to find a new place to live but can’t find an affordable place to live and end up homeless.
comments