this post was submitted on 10 May 2024
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if you want affordable housing we need to de-commodify it and get the investors out. no more airbnb, no more one investor group owning 10s of thousands of single family homes. Dumping regular people's money into this system, even if we give them a bunch extra, is only gonna drive prices even further up. The necessities of living are not speculation opportunities for the ultra rich.
Right, I hate when people ask me if I want to buy a house to invest or to live.
Bitch, I can barely afford one and if I could buy multiple, I wouldn't because I'm not a piece of shit.
hard same. I'm just tryna actually have something at the end of a lifetime of paying hundreds of thousands of dollars just for the privilege of remaining alive. But the people who already have most of everything are like "Why shouldn't I have all of this guy's money and the house?" Swear to God we'll only have to eat one of them and the rest will fall right back in line.
No more AirBNB for entire properties.. If you need to rent out a room a few nights a week to get by it shouldn't be a problem banning those does a disservice to people who want to take a vacation without be thousands of dollars in the red, and for home owners and renters strapped for cash. Plus it would give hotels clear monopoly status, and reduce choices for basic accommodations for travelers.
A combination of taxes to the point it's slightly less lucrative than other forms of investing.
We need to remove mortgage backed securities as well housing shouldn't be part of a portfolio.. I am really hating how properties in in demand areas is allowed to sit and decay. There are many properties in Manhattan that have done nothing for decades. There also needs to be fewer regulations with regard to what can be done with them. I really wouldn't mind a decent Japanese style pod hotel if the price was like $10. An old office building would do well for that.
Mortgage backed securities are a huge part of the mortgage market. Without them it would be more difficult to get a mortgage as there would be less liquidity in the market. The low rates caused a problem though, because investors sought better returns than 1-2% and bought real estate directly.
I find it strange people find Thatcherisms to be witty.
Government isn't a monolith, nor are the parties that run it.
If we're using the brain as a metaphor, I would say don't listen to the voices that are telling you that having a brain is the problem.
I'm not sure housing is even a commodity currently. Commodities tend to be interchangeable and generally are affordable or low margin. None of those is true with housing currently.
Investment and commodity are different things. You can invest in commodities, but it's different than investments in the stock market.
Sprinkle in some Gay Communism in the form of public housing.
This is the correct answer. If minimum wages go up, the price of everything you buy with those wages increases as well, including housing. There's artificial scarcity in housing right now because of investment firms and property management firms.
wages drive inflation but it's not 1:1 and it does tend to benefit low earners.