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I want to point out another angle to this issue. The US tax system may be okayish but renting system is way too much flawed and is giving undue advantage to th

by tmptmp 10y ago

I want to point out another angle to this issue. The US tax system may be okayish but renting system is way too much flawed and is giving undue advantage to the dirty-rich few (read the top 0.1%). There should be some law (e.g. ceiling on land holding act) to restrict the ownership of real estate. Some low enough ceiling on land should be there so that no one be in a position to keep on gaining ever increasing rent revenue and thus keep on putting huge burden on the rest of the society. The tax laws should be accompanied by laws that put hard limits on ownership of real estate. Else the dirty-rich will soon "own" this entire nation for all "practical" and "important" purposes.

dbcurtis 10y ago
Please present your data on rates of home ownership in the US compared to other industrialized nations. Also, what do you think should be done to encourage home ownership beyond the current scheme of making mortgage interest deductable for primary residences?
- tmptmp 10y ago
  Why compare with other nations? Don't you think the USA should show some leadership here? >>Also, what do you think should be done to encourage home ownership beyond the current scheme of making mortgage interest deductable for primary residences? This is a good question. First and foremost, make houses affordable. For this to happen in any meaningful manner, the excess houses/spaces owned by people/companies should be freed from their clutches. Another point is the development across the nation must be more evenly distributed across the entire nation as the population grows, this will help lessen the burden on certain areas. Also, home ownership rate in itself doesn't speak much, what is more significant is how large (i.e. how many tens, hundreds or even thousands of houses) living space is owned by how many individuals/companies and what is the rent-income of these people/companies? This will show that the rent seeking is already rampant in USA. See this news "The affordable units will range for $950 to $1,492 (£615 to £966), and market-rate units will start at $2,000 (£1,294). Monadnock Development is backing the project." [1]. Why these people (like the Monadnock) should be allowed to own such excessive pieces of land, which they are not using for living themselves or not using for any manufacturing activity? No one (individual or company) should be allowed to own multiple houses or even "too big" houses/spaces for living/renting. The dirty-rich owning even the supposedly "public" space is also already happening. See the news about Vinod Khosla [2]. Or see this news about Mark Zukerberg [3]. I understand there are various issues here (e.g. cartels building hotels, in the name of hospitality industry, and using that space to achieve some sort of rent-seeking and/or seeking some sort of leverage through excessive land ownership). But these issues can be tackled through good legislation and enforcement, without harming the interests of the large populations. [1] http://www.dezeen.com/2015/10/21/narchitects-my-micro-ny-modular-residential-tower-affordable-housing-new-york-usa-adapt-nyc/ http://www.dezeen.com/2015/10/21/narchitects-my-micro-ny-mod... [2] http://www.theguardian.com/us-news/2016/feb/23/vinod-khosla-martins-beach-silicon-valley-billionaire-public-access-beach http://www.theguardian.com/us-news/2016/feb/23/vinod-khosla-... [3] http://www.mercurynews.com/business/ci_24285169/mark-zuckerberg-buys-four-houses-near-his-palo-alto-home http://www.mercurynews.com/business/ci_24285169/mark-zuckerb...
nec4b 10y ago
Try changing the word rich in your comment for any other group name: black, gay, jew, muslim,..., and what you wrote would be promptly labeled hate speech.

by tmptmp 10y ago

dbcurtis 10y ago

Please present your data on rates of home ownership in the US compared to other industrialized nations. Also, what do you think should be done to encourage home ownership beyond the current scheme of making mortgage interest deductable for primary residences?

tmptmp 10y ago
Why compare with other nations? Don't you think the USA should show some leadership here? >>Also, what do you think should be done to encourage home ownership beyond the current scheme of making mortgage interest deductable for primary residences? This is a good question. First and foremost, make houses affordable. For this to happen in any meaningful manner, the excess houses/spaces owned by people/companies should be freed from their clutches. Another point is the development across the nation must be more evenly distributed across the entire nation as the population grows, this will help lessen the burden on certain areas. Also, home ownership rate in itself doesn't speak much, what is more significant is how large (i.e. how many tens, hundreds or even thousands of houses) living space is owned by how many individuals/companies and what is the rent-income of these people/companies? This will show that the rent seeking is already rampant in USA. See this news "The affordable units will range for $950 to $1,492 (£615 to £966), and market-rate units will start at $2,000 (£1,294). Monadnock Development is backing the project." [1]. Why these people (like the Monadnock) should be allowed to own such excessive pieces of land, which they are not using for living themselves or not using for any manufacturing activity? No one (individual or company) should be allowed to own multiple houses or even "too big" houses/spaces for living/renting. The dirty-rich owning even the supposedly "public" space is also already happening. See the news about Vinod Khosla [2]. Or see this news about Mark Zukerberg [3]. I understand there are various issues here (e.g. cartels building hotels, in the name of hospitality industry, and using that space to achieve some sort of rent-seeking and/or seeking some sort of leverage through excessive land ownership). But these issues can be tackled through good legislation and enforcement, without harming the interests of the large populations. [1] http://www.dezeen.com/2015/10/21/narchitects-my-micro-ny-modular-residential-tower-affordable-housing-new-york-usa-adapt-nyc/ http://www.dezeen.com/2015/10/21/narchitects-my-micro-ny-mod... [2] http://www.theguardian.com/us-news/2016/feb/23/vinod-khosla-martins-beach-silicon-valley-billionaire-public-access-beach http://www.theguardian.com/us-news/2016/feb/23/vinod-khosla-... [3] http://www.mercurynews.com/business/ci_24285169/mark-zuckerberg-buys-four-houses-near-his-palo-alto-home http://www.mercurynews.com/business/ci_24285169/mark-zuckerb...

nec4b 10y ago

Try changing the word rich in your comment for any other group name: black, gay, jew, muslim,..., and what you wrote would be promptly labeled hate speech.