Another solution I’ve seen is large penalties for every week the house is unoccupied. They will lower the price to get someone in there quickly.
I don’t know how I feel about barring corporate ownership. Obviously there’s a problem that needs to be solved, but not all businesses with homes are landlords driving up prices. Case in point: I created an LLC and used that to purchase my one and only home. I occupy the home and pay rent to the LLC which then pays the mortgage. I felt this was necessary because I don’t have health insurance, and if anything happens to me I don’t want to have any assets worth coming after by debt collectors.
That is a viable means to force a quick sale at a buyer favorable price, but that would also harm other homeowners in the area because the value of comparable homes of a similar type that have sold are factored into the estimates on houses going on the market.
So say a corporation is losing 5K a week off the sale of the home, it drives the price well below market because the market conditions aren’t ideal at the time. The house sells for $50k below fair value. The week after that house sells, a similar house down the street goes on the market for $50k less than it would have prior to the other house selling.
That could be a big problem for the homeowners that want to sell and could cause some big problems for foreclosed houses seized by a local bank or credit union.
I don’t support that idea. I would rather forbid corporations from buying houses in their name.
Another bad aspect is that institutions use the assets(houses) as leverage for stock market plays. So they just stack profits on profits while generating profits and your average person can’t buy a house with a mortgage lower than their rent that goes up every year.
I’m all for this. But I wonder if you actually removed the large corporations/investors and then get rid of the rental software that creates the algorithmic and coordinated pricing, essentially creating a virtual oligopoly, I’d be curious if the problem of “rent being to damn high” might even fix itself.
There should be GIANT tax penalties for corporations to buy single family houses if not just outright illegal
I like the tax hit on purchase, but I want ownership term limits of 5 years and massive taxes on the gains at sale.
Make corporate home ownership not worthwhile again.
Another solution I’ve seen is large penalties for every week the house is unoccupied. They will lower the price to get someone in there quickly.
I don’t know how I feel about barring corporate ownership. Obviously there’s a problem that needs to be solved, but not all businesses with homes are landlords driving up prices. Case in point: I created an LLC and used that to purchase my one and only home. I occupy the home and pay rent to the LLC which then pays the mortgage. I felt this was necessary because I don’t have health insurance, and if anything happens to me I don’t want to have any assets worth coming after by debt collectors.
But fuck landlords.
Or we could just have universal healthcare AND make it illegal for corporations to own homes.
I mean, we can dream. Or leave. I’m working on the latter.
That is a viable means to force a quick sale at a buyer favorable price, but that would also harm other homeowners in the area because the value of comparable homes of a similar type that have sold are factored into the estimates on houses going on the market.
So say a corporation is losing 5K a week off the sale of the home, it drives the price well below market because the market conditions aren’t ideal at the time. The house sells for $50k below fair value. The week after that house sells, a similar house down the street goes on the market for $50k less than it would have prior to the other house selling.
That could be a big problem for the homeowners that want to sell and could cause some big problems for foreclosed houses seized by a local bank or credit union.
I don’t support that idea. I would rather forbid corporations from buying houses in their name.
Oh shit that’s smart
Thanks, but my financial advisor helps me pull all kinds of tricks. I am definitely not the smart one.
That actually seems like a good one. They already do maximize their profits. They just won’t have a room to do it further
Another bad aspect is that institutions use the assets(houses) as leverage for stock market plays. So they just stack profits on profits while generating profits and your average person can’t buy a house with a mortgage lower than their rent that goes up every year.
Yeah totally agree.
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Owning more than 1 house should be taxed at 100%. Fuck landlord, flippers, and investors.
Please read Evicted: Poverty and Profit in the American City
https://en.m.wikipedia.org/wiki/Evicted:_Poverty_and_Profit_in_the_American_City
Throw rent control in there and I think it would work.
I’m all for this. But I wonder if you actually removed the large corporations/investors and then get rid of the rental software that creates the algorithmic and coordinated pricing, essentially creating a virtual oligopoly, I’d be curious if the problem of “rent being to damn high” might even fix itself.