Existing apartments would be removed from the market too. $100 per month costs the owner more than keeping the apartment empty, because tenants are a risk.
If people thought that such a law was going to be permanent, or if there were fees for leaving apartments empty, then many (most?) apartments would be permanently destroyed - either converted to something else (condos, commercial space, etc) or just demolished so that the land could be used some other way.
It’s because the prices are so high! Countless people ARE homeless, and the skyrocketing price of housing is the immediate cause, with the vast profits landlords make the indirect cause. If you can make someone else (tenants) buy houses for you, there is no limit to the number of houses you can buy at no real cost to you, so being a landlord makes insane profits so the prices of houses climb as they’re such a money spinner.
A fraction of the cost that they go to market with at the moment. The housing market is overheating and has been doing so for decades. The value is in the scarcity, and the profiteering, not the bricks and mortar.
Renters pay the mortgage and then some. It’s iniquitous. If you’re the one paying for the house, you should get the house, not someone who just has a better credit rating.
I mean, 0 new apartments would be built
You’ve discovered the problem with organising an economic system around profit
Existing apartments would be removed from the market too. $100 per month costs the owner more than keeping the apartment empty, because tenants are a risk.
If people thought that such a law was going to be permanent, or if there were fees for leaving apartments empty, then many (most?) apartments would be permanently destroyed - either converted to something else (condos, commercial space, etc) or just demolished so that the land could be used some other way.
You forgot the outcome that they could be sold. You know, so that a non landlord could own one.
The reason most renters are renters and not owners is not because there aren’t any houses available to purchase.
This would just make countless people homeless as they lose the option to rent, because they can’t afford to buy/maintain an entire house.
It’s because the prices are so high! Countless people ARE homeless, and the skyrocketing price of housing is the immediate cause, with the vast profits landlords make the indirect cause. If you can make someone else (tenants) buy houses for you, there is no limit to the number of houses you can buy at no real cost to you, so being a landlord makes insane profits so the prices of houses climb as they’re such a money spinner.
What do you think the cost of a house is, just with the cost of the materials and labor to build it, with zero markup?
A fraction of the cost that they go to market with at the moment. The housing market is overheating and has been doing so for decades. The value is in the scarcity, and the profiteering, not the bricks and mortar.
Renters pay the mortgage and then some. It’s iniquitous. If you’re the one paying for the house, you should get the house, not someone who just has a better credit rating.
Until someone needs a home and they build it
Where are they living while they save up the several hundred thousand it costs to build one?
You’re right, the first time shelter was built in human history it was a Blackrock apartment complex.
How could i forget.
If you have to go back to before the concept of money was invented, you don’t really have a good point.
I didn’t.
Blackrock was the only corporate entity that had the building rights to the ferile cresent.
If it weren’t for them nobody would have ever had shelter.
God bless Blackrock
in which part of the world can people build tents that won’t immediately be torn down or vandalized? You make being part of society sound like hell.
Yes because we would decommodify housing and still commodify land.
Use your big boy brain instead of just the angry part