4 ms·
The obvious solution is to make renting out properties illegal.
by gre 6y ago
The obvious solution is to make renting out properties illegal.
- wonderwonder 6y agoAssuming we went this route, housing prices would obviously fall in spectacular fashion. What do you suggest is done with the houses already rented out, does the government buy them from the owners? If so is it at a fair market pre-announcement rate or at a rate that causes losses to the owners, if for a loss what happens to the economy when those losses hit? What happens to the banks that own those mortgages? In addition why would you not now have massive amounts of empty housing as banks refuse to lend to unqualified buyers? In addition, how do you account for the massive drop in new development that occurs as much fewer new houses are built as the housing prices are being deflated due to investment being banned? What about apartment buildings? All genuine questions I would be interested in hearing a solution too?