If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
There is no reason any single family home to be owned by a corporation. Just ban that entirely. Companies can own apartment complexes, but they also need to be required to provide a percentage of “affordable” units that are capped at 1/4th of the states minimum wage.
Why the exception for apartment complexes? Just buy and sell the units as condos.
Because I do think there is value in mid term, affordable, rentals. And coordinating that with a bunch of individually owned units and ensuring that some of them remain affordable seems like a near impossibility.
Might also be nostalgia for earlier days when not every apartment advertised “luxury units” and renting was way cheaper than buying. It’s what kids just out of high school did, or recent divorcees while they got back in their feet financially. Some oriole even preferred it so they didn’t have the responsibility of owning. Companies used to be decent stewards of multi family housing, I’m probably over optimistic that they could be again.
Even better idea: Companies owning homes must be non-profits with publicly visible finances.
Do you mind sharing why this might be a better idea? I’ve seen pretty scummy non profits.
Scummy non-profit with publicly available finances tend to get under media/political fire pretty quick when they are providing basic services. If you have an actually functioning democracy (aka not the US) or large enough masses on the street (aka also not the US, but mostly not because people don’t care; they are struggling too much to make ends meet, but have just enough to keep them content - but i see this balance slowly slipping) these things can be fixed.