4 ms·
And also, the homelessness issue is partly due to economics and culture around property. Some guy owns 7 apartments and rents them out for $1500 each. That sam
by BatteryMountain 5y ago
And also, the homelessness issue is partly due to economics and culture around property.
Some guy owns 7 apartments and rents them out for $1500 each. That same guy lives in a different neighborhood, different city or even different state (or even different country). That that person does not SEE what the neighborhood looks like, nor does he care. All that he cares about is his $1500 that he is "owed". He ignores all other variables and only focus on the spreadsheet and his income growth projections. Not a care in the world about his fellow citizens/people. Greed is prioritized and rewarded in your system. The owners are completely detached from the reality of how people live.
What you rather need is a cap on ownership. Two residential properties per person and no more. Or levy or non-linear tax on each addition property above the second one. The whole buy to let model is a rip off. I own my own place but I would never buy another place to rent out to make profit, I would legit feel bad about it. Maybe it's a cultural thing. I'm not sure, but I don't think living space should be a for-profit system at all.
And if you feel repulsed about what I said above, please go introspect on why you feel that way.