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Half of all renters in the US make major, long-lasting sacrifices to afford housing. A basic failing of US capitalism. Many millions suffer so a small minority - landlords - profit. The system is the (lemmy.world)

submitted 9 months ago by jimmydoreisalefty to c/[email protected]

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@profwolff

Half of all renters in the US make major, long-lasting sacrifices to afford housing. A basic failing of US capitalism. Many millions suffer so a small minority - landlords - profit. The system is the problem.

Source: https://twitter.com/profwolff/status/1776718498519003278

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[–] [email protected] 7 points 9 months ago (3 children)

My solution,

determine the median quarterly rent within a state
Minimum wage is the lowest value rounded to the next highest $100 where that median rent amounts to no more than 35% of it.
people are hired for the week and paid at the end of it, a nominal rate of pay for up to 32 hours of work, 2.5* that is added on for between 32 and 48 hours of work, and between 48 and 64 hours of work earns you an additional sum of 2.5* the overtime rate, meaning overtime is more expensive than staffing appropriately, exponentially so if you're really pushing it
holiday hours count towards the weekly total but working a holiday nets a whole extra week of pay for the worker who came in on that holiday, yes even if they themselves don't observe it personally.
St. Monday is back from the dead! Mondays are now the third weekend day.

[–] [email protected] 7 points 9 months ago

Owner occupant credit against residential property taxes, to hold the effective tax rates for homeowners where they are now, or lower it.

Massive increase in property tax rate, which now only affects investors.

Statutory future increases, targeting an owner-occupancy rate of >80%. If fewer than 8 in 10 residential properties are owned by their occupants, the investor tax rate rises to melt their profits. Statutory decreases in investor tax rates if owner-occupancy rate rises above 90%.

This will effectively kill traditional renting, as the taxes will quickly melt any profit a traditional landlord will collect. To maintain their profitability, landlords will have to find a way for their tenants to be named on the deed, making them eligible for the owner-occupant credit.

Land contracts and private mortgages will become commonplace. Commercial lending requirements will become more tolerant. Housing prices will stabilize, because the market will no longer see unsustainable investor influence.

The only properties that will be feasible to rent will be 2-4 unit dwellings, where the landlord lives in one of the units, and can thus claim the owner occupant credit. Apartment complexes will become condominiums.

[–] PanArab -1 points 9 months ago (1 children)

Landlords can always charge more. The government needs to under cut them by providing affordable public housing with affordable rent or financing.

[–] [email protected] 1 points 9 months ago

I forgot to add that point, you can only raises prices by a rate equal to the previous year's median interest rate

[–] Woozythebear -3 points 9 months ago (1 children)

Stop trying to fix capitalism, it's not fixable.

[–] [email protected] 3 points 9 months ago

How about fuck off, if your strategy for revolution is that the poor aren't allowed to have their lives improved by anything except guillotining the billionaires, you're not an ally, your a cynic who's hoping things will get bad enough for guillotines to make a comeback.