2 ms·
You don't need to confiscate anything. We have an abundance of housing stock (nationwide, many more existing homes than families to fill them). If you make it i
by c22 7y ago
You don't need to confiscate anything. We have an abundance of housing stock (nationwide, many more existing homes than families to fill them). If you make it impossible to be a private landlord then these properties will decrease in value until most citizens can afford to buy a house. Public housing will only be necessary for a small percentage of outliers. New housing will be built to be sold at a modest profit and replace decaying stock, just as it is now. The only difference is owners will not be able to sit on the pot collecting rents from derelict buildings while they wait to optimize their redevelopment in a peak market.
- 1123581321 7y agoUsing the law to destroy the value of someone’s asset until they abandon it is confiscation, just indirectly.
- Supermancho 7y agoConfiscation, it is not, anymore than negative reports are confiscation of stock. You can liquidate and acquire a different asset. Personal preference has rarely been rewarded (re: eminent domain). There are windows of opportunity, timing and strategy inherent to capitalism. Sell before it passes (or the market adjusts) to maximize your realized asset value.
- mc32 7y agoPeople are going to like that as much as they like devaluations or high inflation.
- 1123581321 7y agoBoth your examples (eminent domain and a government using propaganda to devalue a company) are forms of confiscation. It doesn’t matter if smart people would be able to foresee and mitigate the damage.
- c22 7y agoSorry, it might be rude, it might be unfortunate for existing landlords, it might even be a terrible idea, but I don't see how you can call it "confiscation". If the defacto situation is maintained ownership until a decision is made to sell that is not confiscation. If the city builds a trash transfer center right next to my house causing my property value to plummet I might be upset, but nothing has been confiscated from me because I do not own "the character of the neighborhood" except in some small collective part.
- 1123581321 7y agoWhat term do you propose? I agree confiscation is imprecise, but I can’t think of another word that means an intentional act by a government to deprive a citizen of their property, or the value of their property.
- c22 7y agoPerhaps "devaluation"?