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Because if you get zoning out of the way, we can keep building, and keep building, and keep building. Let them keep buying. But if we build enough, they won't
by AnimalMuppet 1y ago
Because if you get zoning out of the way, we can keep building, and keep building, and keep building.
Let them keep buying. But if we build enough, they won't be able to rent it all out. Are they going to keep buying to control the rent-able supply forever? No, they'll run out of money before we run out of buildable land. (Maybe not before we run out of wood, shingles, and labor though...)
- thrance 1y agoAnd then you're left with huge ghost towns, like that one place in Seattle. This seems like a terrible solution, although it might work. And let's not even talk about the environmental impact, it seems to be a taboo nowadays. Why not just prevent private companies from buying homes they don't use, and force them to sell the ones they are currently holding?
- AnimalMuppet 1y agoRight, ghost towns owned by private equity. So I'm not crying. I agree about the environmental impact, though. "Prevent private companies from buying homes they don't use" is going to be a really hard sell legally. (Though, to be fair, changing zoning laws seems also to be a really hard sell...)
- thrance 1y agoAh, fair enough.