In this edition of RealTrending, Steve Murray, senior advisor to RealTrends, talks about private property rights and how a case in Berlin, Germany, tells a story of what could happen here in the U.S. “We must keep a close eye on legislation coming out of the nation’s Capitol and various state and local governments. That will cause a diminution of the enjoyment of private property rights,” says Murray.
Here is a small preview of today’s RealTrending interview. 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 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 the 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.
RealTrending features insight into the brokerage industry. Twice a month, Steve Murray, senior advisor to RealTrends, shares trends he’s seeing and conversations he’s having with real estate brokers and affiliated industries. Hosted by Steve Murray and produced by Elissa Branch.