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The rent is too damn high
(lemmy.zip)
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this post was submitted on 13 Sep 2023
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Tax the shit out of residential real estate investments for corporations and anything beyond the first 3 dwellings owned by individuals. Carve out exceptions for apartment complexes.
Stop corporations from owning anything other than appartments buildings full stop.
Tax the shit out of anything other than the primary residence.
I wouldn't carve out an exception for apartment complexes.
Transition apartment complexes to a condo model with HOA fees to cover all the shared upkeep and expenses. Limit HOA fees to real upkeep costs and expenses (no massive profits for a HOA management company).
My sister-in-laws first place was an apartment complex converted to condos. Her mortgage plus HOA fees where the same as the rent on a comparable apartment in he area.
When she got married, had kid, and purchased a larger place 5 years later, she got her down payment plus all of her mortgage payments back (sold it for 10% more than she bought it for).