Suddenly everyone who owns apartments or other rental property in a major city immediately sells it (even if just to be demolished) and kicks out the current renters.
Why? Paying for demo would be costing them more money. Same with sitting on it without tenants.
Why? Paying for demo would be costing them more money. Same with sitting on it without tenants.
What I mean is that they couldn’t afford to keep it in any way and may end up selling it at just the land value (if that)
The flip side is that it would be sold to people looking to buy one.
It wouldn’t push up homelessness, just more who rent would instead own