David Cabrales Comments on Notable Real Estate Topics for Texas Legislators
Foley & Lardner LLP David Cabrales commented on notable real estate and development topics on Texas legislators’ minds as the state’s biennial legislative gets underway in the Law360 article, “Real Estate Attys Eye Busy Texas Legislative Session.”
Cabrales commented on the issue of corporate ownership of single-family homes, noting that this year’s presession dialogue has seen both sides of the aisle advocating for improved affordability measures.
“The gap between what people earn in many parts of the state and what they can afford to buy is getting bigger and bigger, and the minimum income needed to service an average-sized mortgage in a lot of communities is getting higher, and that’s being exacerbated by corporate housing purchased by investor groups where they hold and rent them,” Cabrales explained, noting though that limiting property ownership is going to be a “tough sell.”
“When you think about a solution in Texas, it’s got to be a solution that passes muster with a Republican-controlled House and a Republican lieutenant governor that’s signed into law by a Republican governor, so some of the solutions that you might hear in Democrat circles up in the Northeast wouldn’t resonate here,” Cabrales added.
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