Not pictured, all the landlords paying an app to create a higher market rate.
this post was submitted on 30 Sep 2024
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This fundamentally misunderstands the way that the market works.
If you have 1000 people trying to rent a 1br apartment, and there are 500 1br apartments on the market, then yeah, the price is going to go up, because there's more demand than supply. But supply is constrained by outside factors, like zoning, and neighborhoods that don't want to ruin their "character" be someone building high-density housing next to their cute, retro bungalow. Sure, you can build your apartment complex out in BFE, but no one wants to rent a place out in BFE because now they can't get to their job in a reasonable amount of time, and have to drive rather than take public transit (or walk, ride a bike, etc.). Plus, that creates sprawl.
If you really want more housing, blaming landlords--including corporate landlords--isn't going to fix it. Blame the cities that won't allow proper high density housing, blame the NIMBYs.
I don't know where people think that more housing comes from; someone has to put up the money. I'm fine with it being the state, but someone has to front the money in the first place.
You have it all wrong. Housing is expensive because investment firms are allowed to buy up entire neighborhoods thus slashing supply.
Building new homes doesn’t change the equation as these same investment firms are buying up new homes as well.
They control the market because they own the majority of it. They prop up home prices and rental prices. They’ll sit on empty homes just to maintain said control.
If you want anything to change the first step is stopping companies from investing in homes.
Any other fight is pointless.
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One landlord told me he had to charge so much because of his Asian wife was greedy.
Glad that old white landlord can hide is greed behind his racism for his wife's ethnic background.
Rich people are shit people.
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Investors and Airbnb have really undermined historical market forces here. also data pricing apps that fix prices between "competitors" should be noted here
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Corps and foreign investors shouldn't be able to own housing (multi unit should be co-op/market rate nonprofits)
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Individuals should not be able to own more than 5 homes. (The number is semi arbitrary, but at a certain point it is very clearly hoarding, and therefore shouldn't be allowed)
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AirBNB and similar should be heavily regulated. (They turn permanent residences into short term, which reduces capacity, and drives up prices all around)
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Shift to a land value tax system as the primary means of tax collection. What few landlords/scalpers exist after the above changes will have even less room to breathe. And it would punish vacancy, which would put pressure to keep as much housing available as possible.
There may need to be some exceptions. But if changes like this were to occur, we wouldn't have this problem.
I'd even say no more than two properties. Make people apply for a permit to own more than that and put extreme limits on the reasons they could be successful depending on the current market.
I don't have a problem with that either. But yeah, the number itself is semi arbitrary. It should be voted on really.
Each successive property beyond one should add an additional 10% to the property taxes. The owner may list them in any order, but you pay 110% for the second property and 200% for the 11th
...And the net result would be that they would charge more on rent. And since taxing at higher rates would deter people from building more rental properties, the housing shortage would get worse.
Developers are not generally landlords. They want to build and are fully capable of setting up building co-ops. (They already do it) So fucking with landlords does not in any way mean less housing available.
And since taxing at higher rates would deter people from building more rental properties, the housing shortage would get worse.
Housing is a public good and should be funded as such.
That would be great! Except that cities refuse to do that, and no one wants to put high density housing anywhere near their cute, historic neighborhood.
If you can build the political will to steamroll the NIMBYs, I'm all for it.
If you can build the political will to steamroll the NIMBYs, I’m all for it.
Any solution to the housing crisis necessarily would require the political will to do that. There's no getting around it.
But yeah, I think we more or less reached a point of agreement. We need to change the culture, it must become more collectivist. We gotta finally start caring for one another.
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Fine. Cap the rents and tie them to inflation. These fuckers are greedier than literal dragons, and I'm down for some dragon slaying.
Okay, now you have waiting lists like they do in Copenhagen.
Pretty much every economist will tell you that rent control creates disincentives to building more housing.
Then we lift the restrictions that Clinton put on government housing, and increase the supply.
I don't care what the racists trained by the Chicago school of economics say, the real world has only proven them right when the rich are pushing on the scales.
Keynes is correct, and 2020 proved that far too well, to the point that the rich started screaming about their wage slaves.
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A land value tax would be a good idea as well, especially if its the main form of tax collection. Each successive property would automatically, drastically increase the cost.
It would become a defacto tax on the rich, while helping to prevent hoarding. Two birds one stone.
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