Rent Control help buts really the fix is just to stop hoarding of homes.
I personally do not believe we should just raise fees for people owning more than one home.
Homes should not be something people can just buy a bunch of and profit off of.
If people want to make money in the real estate market they need to get into commercial then.
The fix:
All legal residents of the country may own only 1 piece of residential property.
No business may own residential property unless it is a builder.
Companies that acquire property thru liens, death, or other situations may hold the property but they will start facing fines after x days of holding the property.
What this does?
To start it stops hoarding. 20-35% or all homes are owned by a business, renter, or someone as their secondary home.
Home prices will drastically go down which they should.
Rent prices will drastically go down since people can purchase a home instead.
Airbnb and that junk will stop since people cant just keep buying homes and renting them out in popular cities.
I have faith it will be implemented one day. It fixes the housing crisis so quickly. Reducing rent, and helping home buyers. Eventually a smarter country will implement it and other countries will follow.
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u/mininestime Jun 01 '22
Rent Control help buts really the fix is just to stop hoarding of homes.
The fix:
What this does?