4 ms·

You can rent your home with x% profit, but after x # of years the home sells to the renter. I like it but that seems like a system VERY susceptible to abuse.

mcmcmc 2y ago
You can bet landlords would be doing everything possible to force renters out just before the purchase window comes open.
- gs17 2y ago
  That's definitely an issue, even if constructive evictions can be prevented, landlords would also have to be forced to renew leases (at limited rent increases).
bilbo0s 2y ago
One small catch, maybe even a constitutional hold up? It's not really your home if you are obliged to sell it after x years. The traditional societal compact with private property is that the property is yours for as long as you choose to keep it. (Providing you pay the taxes covering the costs to provide municipal services to your property.) This kind of changes that, and I'm not sure it would stand up to constitutional scrutiny?
- candiddevmike 2y ago
  No one is forcing you to rent it
  - bilbo0s 2y ago
    Again, traditionally, renting your property on terms an owner unilaterally determines was seen as a right of owning private property. Provided you're able to find a renter who agrees to your terms, and provided your terms are legal, you were allowed to rent your property, again, forever. For instance, it was perfectly legal to rent your apartments for USD1500 per month, and at the same time, allow your kid to stay in one of the apartments for free and give a USD500 a month break to a long term renter who maybe lost his job. It was your property, so whatever terms you had with each renter was very much considered to be your business. (Again, within the bounds of legality. You can't be asking for a cut of the drugs dealt out of your apartment as a condition for instance.) Unless I'm misunderstanding the proposal, this would change that practice. You would be told how much you could rent the property for, as well as the date you would need to sell the property. (Which, I'm guessing, would be based on the rent amount?) So a radical change from before in terms of private property rights.
pc86 2y ago
Forcing people to sell private property against their will is generally a pretty bad economic policy.

mcmcmc 2y ago

You can bet landlords would be doing everything possible to force renters out just before the purchase window comes open.

gs17 2y ago
That's definitely an issue, even if constructive evictions can be prevented, landlords would also have to be forced to renew leases (at limited rent increases).

bilbo0s 2y ago

One small catch, maybe even a constitutional hold up? It's not really your home if you are obliged to sell it after x years. The traditional societal compact with private property is that the property is yours for as long as you choose to keep it. (Providing you pay the taxes covering the costs to provide municipal services to your property.) This kind of changes that, and I'm not sure it would stand up to constitutional scrutiny?

candiddevmike 2y ago
No one is forcing you to rent it
- bilbo0s 2y ago
  Again, traditionally, renting your property on terms an owner unilaterally determines was seen as a right of owning private property. Provided you're able to find a renter who agrees to your terms, and provided your terms are legal, you were allowed to rent your property, again, forever. For instance, it was perfectly legal to rent your apartments for USD1500 per month, and at the same time, allow your kid to stay in one of the apartments for free and give a USD500 a month break to a long term renter who maybe lost his job. It was your property, so whatever terms you had with each renter was very much considered to be your business. (Again, within the bounds of legality. You can't be asking for a cut of the drugs dealt out of your apartment as a condition for instance.) Unless I'm misunderstanding the proposal, this would change that practice. You would be told how much you could rent the property for, as well as the date you would need to sell the property. (Which, I'm guessing, would be based on the rent amount?) So a radical change from before in terms of private property rights.

pc86 2y ago

Forcing people to sell private property against their will is generally a pretty bad economic policy.