Probably the most true post in this entire community.
this post was submitted on 10 Jun 2024
314 points (92.9% liked)
InsanePeopleFacebook
2624 readers
23 users here now
Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
"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?