Probably the most true post in this entire community.
this post was submitted on 10 Jun 2024
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Let's not confuse landlords and corporations. The former are people, the later are not. They're often horrible people, but they're still made of meat; corporations are made of ink, paper, and a stubborn refusal to accept reality.
"Renting" needs to die in a goddamn fire, and I know how to kill it: An Owner-occupant credit against property taxes. If you live in a home you own, you receive the credit, which holds or lowers your property taxes. Someone who owns a home but doesn't live in it is ineligible for the credit.
With that credit in place, we increase property taxes (and the credit) every year that the owner occupancy rate is less than 80%.
Now, every real estate investor is pushing for tenants to become "buyers", and offering land contracts, private mortgages, or converting the property to condominiums, in order to secure that credit.
"But they'll just pass on the tax increase to tenants!" They will try. But, with all the other landlords fighting to put occupants on deeds, who is going to insist on paying a premium for a rental instead of just buying outright?