this post was submitted on 28 Jun 2023
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I'm not 100% certain on the details, but yes. A landlord can reduce their taxes on other income but that doesn't mean they aren't still losing money.
That's only true if the expected increase in value covers the cost in carrying the property. If property values don't increase dramatically over time, waiting just loses money.
Exactly what I'm saying. Demand is, for the most part, inelastic. Each person requires some amount of space. Owning multiple properties that are occupied satisfies housing demand as much as each person owning their own home. As far as I figure, only vacant homes artificially inflate home prices/rent.
I don't mean to say that people should be stuck renting forever. Everyone should have the opportunity to own their home.
As we said above, the renter has to cover the costs of the property, plus the landlord's profit.
That's just not how rent works. Tenants don't care what the landlord's expenses are. If a home is priced above what people are willing to pay, it'll sit empty.