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And I'm of the mind that letting people hoard a scarce, necessary to life resource, when they aren't even using it is immoral. The discomfort you experience of
by vkou 4y ago
And I'm of the mind that letting people hoard a scarce, necessary to life resource, when they aren't even using it is immoral.
The discomfort you experience of having to let out your bought-for-the-purposes-of-renting properties, instead of letting them sit fallow is less important to me than the discomfort of the person you're evicting. Fortunately, vacancy taxes can solve this problem very easily.
You want to be a landlord? Comply with tenant laws. If you don't like it, you won't be missed, it's not like you can leave and take that apartment with you.
- seanmcdirmid 4y agoIf the tenant laws mean being a landlord isn’t profitable, then no one will bother doing it. Capital will flee from the market chasing better returns elsewhere, and then who is servicing rental demand? In China, rental returns are so paltry compared to purchase prices that many property speculators simply don’t rent out their properties (renovating a property reduces its value in that market, so leaving it unfinished is a winning strategy). That has nothing to do with regulation and everything to do with an out of control property bubble, but the same principle applies. Here in Seattle, being a landlord is an increasingly untenable position, especially for private individuals. They are instead in it just for the appreciation (property bubble again) and so it makes sense for them to just leave the house vacant and keep squatters away.