this post was submitted on 06 Apr 2024
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Except they aren't actually occupying the pool, just gatekeeping it. They still have to find tenants in order to actually make money.
In other words, the real problem -- the only reason they can charge exploitatively high rents in the first place, the outsize profits from which is fueling the buying spree -- is lack of supply in places people want to live. As fun as scapegoating landlords is, it doesn't actually fix anything. The way to actually solve the problem is to allow denser zoning!
Let's kill two birds with one stone by having a communist revolution. Boom, no more hoarding empty houses for profit, and the government which now serves the people instead of Capital can build more houses. Ideally according to sensible neighbourhood planning.
That won't solve the problem, they'll buy all of those too.
Well, they could certainly try, fail, and go bankrupt when the rents and values collapse. (If that's not the result, it just means you need to densify the zoning even harder.)
So everybody has to live toe-toe like God damn sardines because these people are too greedy? Sounds so great.
No, everybody has to live toe-toe because they all want to live in the same place. The 'landbastards' are ultimately just red herrings that have nothing to do with it.