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You're looking at the situation very narrowly. Zoom out a little, and you see that in the current situation, we have companies buying up large amounts of prope
by danaris 4y ago
You're looking at the situation very narrowly.
Zoom out a little, and you see that in the current situation, we have companies buying up large amounts of property, then using that monopoly on physical space to extract rent (both literally and figuratively) from others in perpetuity, sometimes without having to do any additional work to justify that rent. While obviously not the sole contributor, it is a significant factor in the housing crisis in many parts of America right now.
Making this kind of landlord position either illegal or much less feasible (for instance, allow individuals to own one extra rental property, or something, if that kind of flexibility is determined to be beneficial, while barring companies from doing the same or anyone from owning larger numbers of non-owner-occupied properties) would have significant effects outside the direct relationship you are describing.
- seti0Cha 4y agoHousing for people and office space for corporations are very different issues. I agree that companies buying all the personal homes is problematic, mostly because people are not business entities, they live in communities and they have needs and desires beyond "this makes the most financial sense". I agree that some legislation might be enacted to curb the problem, although I suspect it would go away on its own if communities facilitated the process of building houses. Greatly increasing the housing supply would make buying large numbers of houses a bad investment.