The guy who owns real estate and presumably got rich from doing so would like less competition and more rental customers. Wow. Such advice, very helpful.
Let’s just tax rich assholes into extinction, abolish landlords, and raise people out of poverty.
Yes, I have long since stopped considering paying money for a home
There are still affordable homes in America if you’re willing/able to live in the sticks.
Everyone else?
Join a radical militia.
Actually, join one of those even if you take option one.
Owner Occupancy Credit.
We establish an owner occupancy credit that reduces effective property tax rate on the property in which a homeowner resides. That credit is increased every time property taxes are raised, so the homeowner’s tax rate stays the same, or drops a bit.
Now, we increase the property tax rate, which now only affects non-resident owners. Landlords. Investors. We target an 85% owner occupant rate. Any year the owner occupancy rate is below 80%, we increase the property taxes. Any year it is above 90%, we lower them again.
Owner-occupants of duplexes, triplexes, quadplexes will qualify for the tax credit for the whole building, not just the single unit they occupy.
“But won’t the landlord just pass the excess cost on to the tenant?” They will try to do that, sure. But that will increase the cost to rent from them, and savvy, private landlords will quickly figure out they can make the same profit and charge less if instead of “renting”, they issue a “land contract” or “private mortgage”. With either of these options, the “tenant” is converted into a buyer, and thus qualifies as an “owner occupant”. Remember: we’re increasing the tax rate every year that the owner occupancy rate is below 80%. Any landlord that insists on trying to rent is eventually going to have to charge extraordinarily high rates to break even, while investors who issue land contracts and private mortgages will be able to earn higher profits while charging less. Who is going to pay the high premium to rent a property when they can spend much less to buy it outright?
Should a
landlordlender decide toevictforeclose on atenantbuyer, that tax rate is going to skyrocket when they take possession. They will be much more motivated to cooperate with the occupant in order to avoid that exorbitant tax.We’re going to need a new latestagecapitalism to counter this one.
If I spoke on what I believe should happen to this real estate mogul I’d have plainclothes agents in my living room by afternoon tea.
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No reason we can’t abort from capitalism while living in nice structures with proper sanitation
Better to steal the empty ones
s/steal/expropriate
