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This is demonstrably false. Why don't landlords own all of Detroit, where housing prices have cratered? Housing is a market like any other. The going rate ca

• DetroitThrow 6y ago
  > Why don't landlords own all of Detroit, where housing prices have cratered? Landlord in the city here - land speculators and landlords own an outsized amount of housing here. Significant churn is caused by blighted house reclaimation by the city, but that's one of the few driving forces allowing residents to have access to housing stock - and by the time it's blighted, there's a good chance it's not livable without significant investment. Blight is generated because many properties/locations provide such a low rental income low that non-resident purchasers just buy the land as speculation, often doing no maintenance until the house is no longer livable. While the previous comment isn't as hard of a truth as it implies, large capital owners rather than those who would reside in a home are increasingly the main purchasers of property, at least in Detroit.
• throwaway0a5e 6y ago
  >Why don't landlords own all of Detroit, The same reason the used car lots don't own all the rust free classics in California, an exceptionally asinine regulatory environment that would put them on the hook for an obscene amount of back taxes.