It seems like we could fix a lot of problems with the housing market if there were a law banning corporate ownership of all permanent residences.
this post was submitted on 27 Jul 2024
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Eh, there are valid reasons for corps to own housing. We just need strict rent control, and ratcheting taxes on vacant homes, so taxes increase when you have more vacant properties. Make it unprofitable to intentionally sit on empty houses.
That latter part is a large problem right now; Corporate landlords are buying thousands of houses, then intentionally only renting a few of them. By sitting on a bunch of vacant houses, they’re artificially reducing the supply and dramatically increasing rent in the few properties they do rent.
Hell, I’d even be in favor of increasing taxes based on how many homes you own. One or two houses? Great, that’s enough for a summer and winter home. But after that, taxes should dramatically increase so owning additional homes (to use as rental properties) becomes less and less appealing.
Rent control can be a double edged sword, leading to lower quality homes and less development - there's no reason to build or fix homes that don't make money. Government subsidies and oversight help a little.
I do like the idea of taxing empty homes, though. It could even be progressive so the more empty homes, the higher the tax. Corporations would lower rents to avoid the penalty.
THIS is the "government overreaching" that Republicans are trying remove by taking away Chevron.
Yep! The FTC is supposed to be a toothless token according to the supreme court. I just wonder what would happen if new laws explicitly give the government orgs the powers back. Like: "any interpretation of ambiguity or unclarity in this law is in the power of the to decide".
Being a corporate landlord is abusive and predatory
I don't know how those fucking people sleep at night, honestly
Making it so I can afford my Rent is SOCIALISM! I would MUCH rather be Homeless or in Jail if that means that ONE MORE TRANS KID DIES!
-Pro Life Republicans!
Yeah they should be following the law. But the laws also have to be changed because a lot of exploitative practices are legal.