When Chai Dingari's landlord abruptly raised his rent by 25%, Chai tried to track them down. What he found led him into the shadowy legal world of housing, w...
Rent caps (maybe as a square footage baseline or something) and massive taxation on people who rent out more than, idk, 3 properties to the point where it’s totally unviable economically to own those properties. This would, of course, trigger a mass selling of property, which would probably drive down home prices drastically. Couple that with eliminating the down payment system for first time home buyers.
In this solution, some people will lose a lot of money. Specifically property investors. But investing involves risk. It’s part of the gig. If property investors have to lose money so that the vast majority of people can own their own home instead of being milked like a cow for their wages I’m fine with that. If we can send 18 year olds to die in foreign lands for something as stupid as oil venture capital I think I’m willing to sacrifice the bank accounts of a few rich people locally.
If we didn’t let it get this one sided with property in the first place we wouldn’t have to make such drastic decisions. But we can’t just do nothing. Im lucky because I own property. It’s very difficult to do as a tradesman just to get your foot in the door. Most of my friends and colleagues still rent in their thirties. That’s bullshit and needs to be dealt with on a systemic level.
Rent caps (maybe as a square footage baseline or something) and massive taxation on people who rent out more than, idk, 3 properties to the point where it’s totally unviable economically to own those properties. This would, of course, trigger a mass selling of property, which would probably drive down home prices drastically. Couple that with eliminating the down payment system for first time home buyers.
In this solution, some people will lose a lot of money. Specifically property investors. But investing involves risk. It’s part of the gig. If property investors have to lose money so that the vast majority of people can own their own home instead of being milked like a cow for their wages I’m fine with that. If we can send 18 year olds to die in foreign lands for something as stupid as oil venture capital I think I’m willing to sacrifice the bank accounts of a few rich people locally.
If we didn’t let it get this one sided with property in the first place we wouldn’t have to make such drastic decisions. But we can’t just do nothing. Im lucky because I own property. It’s very difficult to do as a tradesman just to get your foot in the door. Most of my friends and colleagues still rent in their thirties. That’s bullshit and needs to be dealt with on a systemic level.