So, you're saying it would increase available housing supply? Sounds great.
Oh, and for the record, they will not, in fact, sell. Most housing in Ontario is still under a 2% annual rent increase limit. Landlords are doing just fine (and by "Just fine" I of course mean "We have a national housing crisis because landlords are hoarding all the available supply")
I get the concern that small landlords will sell to big corpos who can handle the thinner margin, but for those smaller landlords that have paid off their property, or bought 10+ years ago, the margins are already super high, so the 3% cap isn’t going to cause them to sell when they have a $1200 mortgage and are collecting $2800 in rent, or no mortgage at all in many cases so pure profit more or less
Yay? Maybe then it could be sold to people who are desperate to get off of the rental merry-go-round.
As in, these homes will be owned by people who actually live in them; non-parasites who aren’t going to be sucking the lifeblood out of hard-working, working-class Americans.
And maybe instead of being landlords, these parasites could actually go out and get a job?
This is first order thinking. What this would cause is much much less building of units that people would rent, so the total supply would slow way down and housing would get worse.
A 3% cap is absurdly low. While people are saying "don't threaten me with a good time," this also means there are going to be fewer new units. Although considering how few units many CA cities have been adding (some have even removed units), it might not have too much of an effect on that regard. I would could see maintenance on existing units dropping and many more unofficial units popping up.
We don't want to be a nation of renters. It's not good for society; it's only good for a minority of individuals.
And fewer new units? Where are you pulling that from? It just means developers will be building for home owners, not renters. Like they did back in the Good Old Days, when young people could actually realistically consider buying a home someday. You know, re-creating the conditions that the younger generations are always bitching about that boomers had which aren't available anymore. Back when not all the land was owned by a few giant corporations.
Fuck renters. Fuck them right in the ear. They can all go eat a dick.
Disclaimer: I've owned every house I've lived in since 1998, and even with that collateral, every purchase has gotten harder to find and more expensive. So much of America is owned by property developers, it's disgusting.
You...blame the people who can't afford to own for renting and also blame that same situation for making it harder for you to buy? You seem to be missing the point here.
Someone who pays rent to use land or a building or a car that is owned by someone else • the landlord can evict a renter who doesn't pay the rent
= tenant
An owner of property who receives payment for its use by another person
It's not my fault the stupid word means both people renting, and the owners who rent the place out. I'd hoped the context would have made it clear to which I was referring, in each use.
