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Biden to propose new $5000 tax credit for first-time home buyers
(www.washingtonpost.com)
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this post was submitted on 07 Mar 2024
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You cannot set the rent to "whatever you like". There's a reason why my NYC apartment is $2500 a month and not $250,000 a month. If a corporation does take an owned unit into the rental market, it'll be competing with all other rentals. That will decrease supply for the ownership market, yes, but it also increases supply in the rental market, which tends to consist of people who are financially struggling more than people looking to buy a house.
Regardless, the actual solution is to just build some more god damned housing so that it stops being an attractive investment in the first place. Housing cannot be both a good investment and affordable.
I understand prices are not arbitrary numbers but prices are different in markets that have many players versus ones that have only several big ones.
Building more houses is a good long term solution. I agree with you there. Another one is too set a penalty for owning single family homes so ideally you would only want to own just one anyways.