What's really needed: make real estate a less lucrative investment by aggressively raising property taxes (which are generally a percentage of the assessed value), or at least land-based property taxes (and encouraging dense development).
this post was submitted on 14 Jul 2023
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And if you raise the taxes on rental properties, who is going to eat that shit? Landlords? No. It will be renters.
Then also restrict their ability to raise rent.
So what you end up with is a home that gets repossed by the bank and for whatever reason, the banks don't have to follow any tenancy laws and you're out on your ass. No thanks.
Good. Then it penalizes empty rentals and gives the government more resources to combat housing inflation.
That makes no sense whatsoever.
It's not like those places will be empty. It will just be filled to the brim with tenants who split the higher rent. That's not solving the housing issue.
What's needed:
- feds to get their head out of their ass
- outlaw residential rental property ownership by corporations, MP's, and MLA's
- outlaw all property ownership by foreign entities and close ownership-by-proxy loopholes
- force sales on properties that are now illegal to the above-mentioned to own (either to willing small private buyers, collectives, or government operated housing)
- make blatant "renovictions" illegal
- legislate maximum allowable rent increases to equal inflation
What will be done:
- fuck all
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