Steve Murray on the importance of protecting property rights
Today’s HousingWire Daily features a crossover episode with RealTrending, a podcast showcasing the brightest minds in real estate and the housing market. In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.
Murray also shares some ways for leaders to better connect with their long-term remote workers and looks at recent factors that might cause the market to slow down.
Here is a preview of the topics Murray discussed. The transcript below has been lightly edited for length and clarity:
Private Property Rights: Will property rights be expropriated? There was an article recently in The Wall Street Journal that pointed out that in Germany, citizens in Berlin are going to the polls to expropriate landlords from rental properties, particularly those who own large numbers because of rapidly rising rents. While they indicated that the ballot is not binding, it will instruct the political leadership about what they should do about this problem. On top of the problem, they said, they might try to appropriate it or expropriate the property from large landlords of rental buildings. But the cost of doing so is in the tens of billions of dollars. We may think that in the United States, due to, among other things, the strength of the National Association of Realtors and their state and local chapters to protect private property rights, that this would never happen.
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