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Rental income should not be the primary reason for housing to be built in the first place, so I don't buy that argument. The primary reason to build housing sho
by tremon 11mo ago
Rental income should not be the primary reason for housing to be built in the first place, so I don't buy that argument. The primary reason to build housing should be demand for home ownership. The volume of housing that ends up on the rental market should only be a small fraction of the total volume.
Instead of rent control, I propose a forced buy-out model: if the current tenant can manage to buy the home they're currently living in, the landlord is not allowed to refuse the sale. And banks are not allowed to deny such a mortgage if the monthly installments amount to less than the current rent.
- bpt3 11mo agoAgain, you are just discouraging people from building more homes. People like to create financial Rube Goldberg machines to address high housing prices, but the solution is simple: Add supply. Now adding more supply is not trivial in many cases, but at least people can work on the correct problem to solve once it's identified.
- archagon 11mo agoIdealistic solutions will not gain traction when they fail to address the pain that people are feeling today.
- bpt3 11mo agoThen people who are unable or unwilling to have foresight will continue to suffer the consequences.
- archagon 11mo agoExisting residents will be fine. Newcomers may have problems. Ultimately, not a terribly unjust situation.
- senordevnyc 11mo agoTell that to your kids.
- dzhiurgis 11mo ago> should only be a small fraction of the total volume Which is? Lot's of people are happy to rent, want to rent, will never want to own a home, want mobility, etc. I rented for nearly 20 years and only past few years went into situation where I want to buy a house. Should I be denied renting? There's obviously premium to be paid while renting too. There should never be a situation where rent is cheaper than mortgage.