Bernie’s plan to change REI

[J. Mitchell Bernier]

I know that this forum does an excellent job at not straying into politics. But I think it is fair for others to see what some candidates are proposing that could directly affect how we invest our time and money into Real Estate. Below is a link to the Bernie Sanders page where he details out fundamental changes to the benefits of investing in Real estate. Don’t care about anyone’s political beliefs, just think we all should be informed, full disclosure not a fan of Bernie.

https://berniesanders.com/issues/housing-all/

[Greg M.]

My personal opinion on the election, which may color what I wrote below: Trump easily wins re-election; The DNC makes sure Bernie is not their nominee as they are too scared this would lead to a red wave across much of the country. Mayor Pete is made the sacrificial lamb for 2020.

Now let's say Bernie does become President and wishes to spend trillions of dollars and reshape our housing market. I'm not scared at all.

• Where does the money come from? His wishful spending list far exceeds any amount of taxes that could be collected.
• Where are these new units built? He's going to build 8 million new units? Great, apparently there are giants swaths of unused land sitting in LA, SF, and NYC just waiting to be developed. 🙄
• In order to get the money for these projects he needs to get it from Congress. Does the Senate flip blue? Cause he isn't getting 1c for this while in Republican control. Even if it did flip, there would be a lot of Dems in purple areas that would not be inclined to go along with his ideas. Regardless of the media portrayal, a hell of a lot of this country is purple and is not in favor of his ideas. 

The size and scope of his wish list is far beyond what could ever get done even if he were to win 2 terms. Many of his aggressive proposals would be tied up in the courts for years. Congress would never approve the level of spending that he would require or agree to the amount of taxes that he would want to raise.